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3200.0
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2022-10-04 00:00:00 UTC
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U.S. airlines reject lawmakers' request to refrain from share buybacks
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-reject-lawmakers-request-to-refrain-from-share-buybacks
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nan
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nan
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By David Shepardson
WASHINGTON, Oct 4 (Reuters) - A trade group representing major U.S. airlines rebuffed a request by 70 U.S. lawmakers to voluntarily extend a expired prohibition on stock buybacks that was a condition of U.S. government COVID-19 payroll assistance.
Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, led a group of 70 lawmakers last week urging airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community."
Congress approved $54 billion in three rounds covering much of U.S. airline payroll costs for 18 months through the end of September 2021. The ban on stock buybacks expired on Friday.
DeFazio's letter, which was first reported by Reuters, was also signed by Democratic representatives including aviation subcommittee chair Rick Larsen, Alexandria Ocasio-Cortez, David Cicilline, Eleanor Holmes Norton, Jerrold Nadler, Carolyn Maloney, Rosa DeLauro and Debbie Dingell.
Aviation unions launched a campaign in August to pressure airlines against stock buybacks. It came as major carriers are negotiating new contracts with pilots, who are seeking higher pay and improvements in schedules.
Airlines for America, a group representing major U.S. airlines including American Airlines AAL.O , Delta Air Lines DAL.N, United Airlines UAL.O , Southwest Airlines LUV.N and others, told lawmakers in a previously unreported letter dated Friday seen by Reuters that "airlines willingly agreed to the intentionally temporary restrictions of the (payroll support program) to protect jobs and preserve their workforces amid the unprecedented global health crisis."
The letter did not endorse the lawmakers call to refrain from share buybacks but said " U.S. airlines are focused on prioritizing aviation safety and investing in people – the employees who are the backbone of this industry and our customers who we serve every day."
American Airlines received $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion and Southwest Airlines $7.2 billion.
Out of $54 billion, airlines must repay $14 billion, or 26.2% of the funding.
Delta said in a statement its "top financial priority is restoring its financial foundation by generating sustained and meaningful profitability and cash flow to support debt reduction and reinvestment in the business."
Last month, the chairs of two other congressional committees sought a federal probe into whether airlines used payroll funds to fund pilot buyouts and early retirements.
(Reporting by David Shepardson; Editing by David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a group representing major U.S. airlines including American Airlines AAL.O , Delta Air Lines DAL.N, United Airlines UAL.O , Southwest Airlines LUV.N and others, told lawmakers in a previously unreported letter dated Friday seen by Reuters that "airlines willingly agreed to the intentionally temporary restrictions of the (payroll support program) to protect jobs and preserve their workforces amid the unprecedented global health crisis." By David Shepardson WASHINGTON, Oct 4 (Reuters) - A trade group representing major U.S. airlines rebuffed a request by 70 U.S. lawmakers to voluntarily extend a expired prohibition on stock buybacks that was a condition of U.S. government COVID-19 payroll assistance. Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, led a group of 70 lawmakers last week urging airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community."
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Airlines for America, a group representing major U.S. airlines including American Airlines AAL.O , Delta Air Lines DAL.N, United Airlines UAL.O , Southwest Airlines LUV.N and others, told lawmakers in a previously unreported letter dated Friday seen by Reuters that "airlines willingly agreed to the intentionally temporary restrictions of the (payroll support program) to protect jobs and preserve their workforces amid the unprecedented global health crisis." By David Shepardson WASHINGTON, Oct 4 (Reuters) - A trade group representing major U.S. airlines rebuffed a request by 70 U.S. lawmakers to voluntarily extend a expired prohibition on stock buybacks that was a condition of U.S. government COVID-19 payroll assistance. American Airlines received $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion and Southwest Airlines $7.2 billion.
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Airlines for America, a group representing major U.S. airlines including American Airlines AAL.O , Delta Air Lines DAL.N, United Airlines UAL.O , Southwest Airlines LUV.N and others, told lawmakers in a previously unreported letter dated Friday seen by Reuters that "airlines willingly agreed to the intentionally temporary restrictions of the (payroll support program) to protect jobs and preserve their workforces amid the unprecedented global health crisis." Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, led a group of 70 lawmakers last week urging airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community." American Airlines received $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion and Southwest Airlines $7.2 billion.
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Airlines for America, a group representing major U.S. airlines including American Airlines AAL.O , Delta Air Lines DAL.N, United Airlines UAL.O , Southwest Airlines LUV.N and others, told lawmakers in a previously unreported letter dated Friday seen by Reuters that "airlines willingly agreed to the intentionally temporary restrictions of the (payroll support program) to protect jobs and preserve their workforces amid the unprecedented global health crisis." The ban on stock buybacks expired on Friday. American Airlines received $12.6 billion, Delta Air Lines $11.9 billion, United Airlines $10.9 billion and Southwest Airlines $7.2 billion.
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3201.0
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2022-10-04 00:00:00 UTC
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U.S. FAA mandates new flight attendant rest time rules
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AAL
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https://www.nasdaq.com/articles/u.s.-faa-mandates-new-flight-attendant-rest-time-rules
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nan
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nan
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By David Shepardson
ARLINGTON, Va., Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018.
The FAA first proposed the rule in October 2021. Under existing rules, flight attendants get at least nine hours of rest time but it can be as little as eight hours in certain circumstances.
Acting FAA Administrator Billy Nolen, who has been on the job since April 1, said during a news conference at Washington National Airport that the rule took " way too long" to finalize. "They need just as must rest" as pilots, Nolen added.
Sara Nelson, president of the Association of Flight Attendants representing 50,000 workers at 17 airlines, said the rest rule was a "safety loophole we had to close." Under the administration of President Donald Trump the rule "was put on a regulatory path to kill this."
Under Trump, the FAA issued an advanced notice of proposed rulemaking but never proposed new rules despite the 2018 directive from Congress.
Airlines will have 90 days to comply once the rule takes effect. The FAA estimates airlines will need to hire 565 additional flight attendants at a cost of about $117 million annually.
Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.N, said "having rested and alert flight attendants" is critical to aviation safety, adding airlines back "scientifically validated and data-driven countermeasures to prevent fatigue."
Senate Commerce Committee chair Maria Cantwell said "flight attendants perform critical safety roles on behalf of the flying public and have long deserved the same rest periods afforded to pilots."
The majority of U.S. flight attendants typically do receive 10 hours of rest from airlines, but current rules allow for less.
After the FAA published an advance notice of the planned rules in 2019, Delta announced it would mandate the 10-hour rest requirement by February 2020.
"We are happy to hear that the new rule will apply across the industry and ensure flight crews at other airlines receive the rest they need to keep our skies safe," Delta said in a statement.
(Reporting by David Shepardson Editing by Bill Berkrot)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.N, said "having rested and alert flight attendants" is critical to aviation safety, adding airlines back "scientifically validated and data-driven countermeasures to prevent fatigue." By David Shepardson ARLINGTON, Va., Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. Senate Commerce Committee chair Maria Cantwell said "flight attendants perform critical safety roles on behalf of the flying public and have long deserved the same rest periods afforded to pilots."
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.N, said "having rested and alert flight attendants" is critical to aviation safety, adding airlines back "scientifically validated and data-driven countermeasures to prevent fatigue." By David Shepardson ARLINGTON, Va., Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. The majority of U.S. flight attendants typically do receive 10 hours of rest from airlines, but current rules allow for less.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.N, said "having rested and alert flight attendants" is critical to aviation safety, adding airlines back "scientifically validated and data-driven countermeasures to prevent fatigue." By David Shepardson ARLINGTON, Va., Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. The majority of U.S. flight attendants typically do receive 10 hours of rest from airlines, but current rules allow for less.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.N, said "having rested and alert flight attendants" is critical to aviation safety, adding airlines back "scientifically validated and data-driven countermeasures to prevent fatigue." "They need just as must rest" as pilots, Nolen added. Under Trump, the FAA issued an advanced notice of proposed rulemaking but never proposed new rules despite the 2018 directive from Congress.
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3202.0
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2022-10-04 00:00:00 UTC
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Why Airline Stocks Are Soaring Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-soaring-today-3
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nan
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nan
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What happened
On Tuesday, stocks enjoyed their second straight day of gains as investors appear to see glimmers of hope that the worst of the rate hikes are now behind us and a so-called hard landing can be avoided. Airline stocks, which tend to perform poorly during a recession, are taking off on the thought that a downturn can be avoided.
Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are leading the way, each up more than 8% as of 11 a.m. ET on Tuesday, with shares of United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), and JetBlue Airways (NASDAQ: JBLU) all up more than 5% apiece.
So what
The recently concluded third quarter was a tough one for airline stocks, with the entire group listed above down between 31% and 38% due to growing fears about the potential for a recession. The Federal Reserve has made it clear it will not stop raising rates until it is confident that inflation is under control. By definition, the Fed's actions are trying to cool the economy. The fear among investors was that the cooling would go too far, causing the economy to stall.
Businesses and consumers tend to cut spending during a downturn, and airfares are an obvious place to target when trying to cut spending. Air travel is for the most part a discretionary purchase, or at least one that can be deferred when trying to deal with other costs or declining income.
In years past, once-storied names like TWA, Braniff, and Eastern disappeared from the skies during recessions.
We're not out of the woods yet, but markets have rallied in recent days on a couple of data points that could suggest the Fed will be cautious from here. A report out Monday showed U.S. manufacturing activity declined to its lowest level since May 2020, and overnight Australia's central bank slowed the pace of its rate hikes.
With growing pressure on central banks to avoid going too far, including a new report from the U.N. warning that hikes could result in a global recession and a period of prolonged stagnation, investors are hoping the Fed will take its foot off the gas in the quarters to come.
For airlines already trying to dig out from the damage done to their businesses from the pandemic and facing higher-than-expected labor costs, anything that reduces the risk of a recession would be welcome news.
JetBlue and American are also likely rallying based on the two airlines' passionate defense of their alliance in the face of regulatory criticism. The Justice Department has asked a federal judge to roll back the alliance, which it calls a "de facto merger" that hinders competition, but executives from American and JetBlue in testimony this week have made it clear they have no intention to back away from the partnership.
Now what
Sentiment is moving in the right direction, but investors need to be careful not to get ahead of themselves. For one, it is dangerous to try to predict what the Federal Reserve does from here. Secondly, even if a recession is avoided the airlines still face a lot of other headwinds on the horizon.
The industry took on massive amounts of debt during the pandemic, and have still not yet fully restored operations post-COVID. International and business travel, two of the more lucrative parts of the business prior to the pandemic, have been slow to recover, and by some estimates could take until late 2023 to normalize even if there is no recession.
For those willing to ride out the turbulence, Delta and Southwest have best-in-class management teams and should be able to recover well ahead of the pack. But be advised there is likely no reason for buyers to chase this week's rally: With so much uncertainty about the economy and the prospects of a slow recovery, expect the airline sector to remain volatile for the foreseeable future.
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Lou Whiteman has positions in Delta Air Lines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are leading the way, each up more than 8% as of 11 a.m. What happened On Tuesday, stocks enjoyed their second straight day of gains as investors appear to see glimmers of hope that the worst of the rate hikes are now behind us and a so-called hard landing can be avoided. With growing pressure on central banks to avoid going too far, including a new report from the U.N. warning that hikes could result in a global recession and a period of prolonged stagnation, investors are hoping the Fed will take its foot off the gas in the quarters to come.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are leading the way, each up more than 8% as of 11 a.m. ET on Tuesday, with shares of United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), and JetBlue Airways (NASDAQ: JBLU) all up more than 5% apiece. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are leading the way, each up more than 8% as of 11 a.m. ET on Tuesday, with shares of United Airlines Holdings (NASDAQ: UAL), Southwest Airlines (NYSE: LUV), Alaska Air Group (NYSE: ALK), and JetBlue Airways (NASDAQ: JBLU) all up more than 5% apiece. So what The recently concluded third quarter was a tough one for airline stocks, with the entire group listed above down between 31% and 38% due to growing fears about the potential for a recession.
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Shares of American Airlines Group (NASDAQ: AAL) and Delta Air Lines (NYSE: DAL) are leading the way, each up more than 8% as of 11 a.m. With growing pressure on central banks to avoid going too far, including a new report from the U.N. warning that hikes could result in a global recession and a period of prolonged stagnation, investors are hoping the Fed will take its foot off the gas in the quarters to come. Secondly, even if a recession is avoided the airlines still face a lot of other headwinds on the horizon.
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3203.0
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2022-10-04 00:00:00 UTC
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U.S. FAA mandates new flight attendant rest time rules
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AAL
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https://www.nasdaq.com/articles/u.s.-faa-mandates-new-flight-attendant-rest-time-rules-0
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nan
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nan
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ARLINGTON, Virginia Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018.
The FAA first proposed the rule in October 2021. Under existing rules, flight attendants get at least nine hours of rest time but it can be as little as eight hours in certain circumstances. Acting FAA Administrator Billy Nolen, who has been on the job since April 1 said at a press conference at Washington National Airport the rule took " way too long" to finalize.
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
ARLINGTON, Virginia Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. Acting FAA Administrator Billy Nolen, who has been on the job since April 1 said at a press conference at Washington National Airport the rule took " way too long" to finalize. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
ARLINGTON, Virginia Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. Under existing rules, flight attendants get at least nine hours of rest time but it can be as little as eight hours in certain circumstances. Acting FAA Administrator Billy Nolen, who has been on the job since April 1 said at a press conference at Washington National Airport the rule took " way too long" to finalize.
|
ARLINGTON, Virginia Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. Acting FAA Administrator Billy Nolen, who has been on the job since April 1 said at a press conference at Washington National Airport the rule took " way too long" to finalize. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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ARLINGTON, Virginia Oct 4 (Reuters) - The U.S. Federal Aviation Administration (FAA) on Tuesday finalized new rules requiring airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018. The FAA first proposed the rule in October 2021. Under existing rules, flight attendants get at least nine hours of rest time but it can be as little as eight hours in certain circumstances.
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3204.0
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2022-10-04 00:00:00 UTC
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Boeing, Airbus Struggle with Timely Deliveries
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AAL
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https://www.nasdaq.com/articles/boeing-airbus-struggle-with-timely-deliveries
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nan
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nan
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Challenges don’t seem to end for the airline industry. Major airlines globally are struggling to meet the upsurged travel demand as aerospace companies like Boeing (NYSE:BA) and Airbus Group SE (OTC:EADSF) are lagging behind in their deliveries. Single-aisle jets, mostly utilized for U.S. domestic flights or other short-distance travel, have waiting periods of several months, according to the Wall Street Journal.
Consequentially, carriers like United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL) are forced to cut their flight frequencies and even withdraw from certain markets due to the shortage of aircraft. As of August, UAL received only seven out of the expected deliveries of 53 new Boeing single-aisle jets.
Though both Boeing and Airbus Group are trying hard to pace up their deliveries, supply constraints continue to be a huge bottleneck. Airlines have also been facing trouble in getting spare parts for their existing planes.
While Airbus stated that it might not meet its delivery targets for this year, Boeing is faced with bigger regulatory hurdles. The company is awaiting approval for its latest two variants of the 737 MAX.
Is BA Stock a Good Buy?
The Wall Street community is clearly optimistic about Boeing stock, with a Strong Buy consensus rating based on 11 Buys and two Holds. Boeing’s average price target of $218.64 implies 73.45% upside potential from current levels.
The stock has a Very Positive signal from hedge fund managers, who added 1.1 million shares during the last quarter. Further, BA stock boasts a top-notch Smart Score of a 'Perfect 10' on TipRanks.
Is Airbus Stock a Buy or Sell?
The Street is highly bullish about Airbus stock. Overall, the stock commands a Strong Buy consensus rating based on 12 Buys and one Hold. EADSF stock's average price target of $141.14 implies 57.08% upside potential from current levels.
Concluding Thoughts
With the huge uproar in travel demand, aircraft makers have gigantic backlog orders to fulfill. If supply constraints subside and deliveries are back on track, it could boost the stocks of aircraft makers in the coming months.
Meanwhile, Wall Street analysts feel that the current price levels for both Boeing and Airbus Group offer attractive investment opportunities.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Consequentially, carriers like United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL) are forced to cut their flight frequencies and even withdraw from certain markets due to the shortage of aircraft. Major airlines globally are struggling to meet the upsurged travel demand as aerospace companies like Boeing (NYSE:BA) and Airbus Group SE (OTC:EADSF) are lagging behind in their deliveries. Single-aisle jets, mostly utilized for U.S. domestic flights or other short-distance travel, have waiting periods of several months, according to the Wall Street Journal.
|
Consequentially, carriers like United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL) are forced to cut their flight frequencies and even withdraw from certain markets due to the shortage of aircraft. The Wall Street community is clearly optimistic about Boeing stock, with a Strong Buy consensus rating based on 11 Buys and two Holds. Boeing’s average price target of $218.64 implies 73.45% upside potential from current levels.
|
Consequentially, carriers like United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL) are forced to cut their flight frequencies and even withdraw from certain markets due to the shortage of aircraft. Major airlines globally are struggling to meet the upsurged travel demand as aerospace companies like Boeing (NYSE:BA) and Airbus Group SE (OTC:EADSF) are lagging behind in their deliveries. The Wall Street community is clearly optimistic about Boeing stock, with a Strong Buy consensus rating based on 11 Buys and two Holds.
|
Consequentially, carriers like United Airlines (NASDAQ:UAL) and American Airlines (NASDAQ:AAL) are forced to cut their flight frequencies and even withdraw from certain markets due to the shortage of aircraft. While Airbus stated that it might not meet its delivery targets for this year, Boeing is faced with bigger regulatory hurdles. Is BA Stock a Good Buy?
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3205.0
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2022-10-04 00:00:00 UTC
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Delta (DAL) to Add Flights to Europe in the Summer of 2023
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AAL
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https://www.nasdaq.com/articles/delta-dal-to-add-flights-to-europe-in-the-summer-of-2023
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nan
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nan
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With the surge in air-travel demand, Delta Air Lines DAL decided to add flights to European cities next summer. As part of its efforts to expand operations across the trans-Atlantic, DAL will have 8% more available seats in the coming summer than in the same season of 2022.
In the summer of 2023, Delta will operate flights (either new or resumed after the pandemic) to destinations like London-Heathrow, Paris, Geneva, Stuttgart and Berlin. Expressing delight on the impending expansion, Joe Esposito, Delta’s senior vice president of Network Planning, said, “With nearly 620 weekly flights and connectivity to 32 destinations in Europe and beyond, customers will have a wealth of iconic destinations to explore and an unmatched journey to enjoy across the pond.”
Delta’s trans-Atlantic schedule from New York JFK next summer will be the largest ever, including more than 220 weekly departures to 26 destinations. As part of this schedule, DAL will operate daily flights between Gatwick and New York JFK from Apr 10, 2023. The carrier has not operated flights on the route since 2008.
DAL will resume daily service to Berlin from JFK on May 25. Also, for the first time since 1993, the airline will fly to Geneva from New York JFK. Also, the airline will boost its operations to Rome by adding a third seasonal flight from May 25. The flight to Rome will operate daily.
From Atlanta, Delta will add 11 flights a week to three trans-Atlantic destinations. As part of the expansion from Atlanta, DAL will operate seasonal flights (five times a week) to Edinburgh from May 25. It also aims to bolster its trans-Atlantic operations from Los Angeles. The services include flights to Paris from May 8, marking the resumption of the route post-pandemic. It will also fly to London-Heathrow from Mar 25, 2023, for the first time since 2015.
The move to expand trans-Atlantic capacity seems prudent, given that passenger revenues are rising with the rebound in air-travel demand. Delta’s revenues in second-quarter 2022 came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million but also soared 94% from the year-ago quarter’s figure.
To highlight the buoyancy in air-travel demand, let’s recap the top-line performance of two other U.S. carriers.
At American Airlines AAL, operating revenues were $13,422 million in the second quarter, increasing 79.5% year over year. Revenues also surpassed the Zacks Consensus Estimate of $13,409.8 million. This massive year-over-year jump reflects upbeat air-travel demand. Buoyant air-travel demand is also reflected in the 12.2% increase in total operating revenues from the second-quarter 2019 actuals despite operating at an 8% lower capacity.
In the June quarter, passenger revenues, accounting for the bulk of the top line (91.1%), increased to $12,223 million from $6,545 million a year ago, driven by strong summer-travel demand, mainly on the domestic front.
At United Airlines UAL, operating revenues of $12,112 million beat the Zacks Consensus Estimate of $12,033.7 million in the second quarter. Revenues increased more than 100% year over year owing to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the total operating revenue increase of 6.2% from the second-quarter 2019 levels.
The massive year-over-year increase in United Airlines’ top line was driven by more than a 100% rise in its passenger revenues (accounting for 89.4% of the top line) to $10,829 million. Moreover, passenger revenues at UAL inched up 3.3% from the second-quarter 2019 reading.
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Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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At American Airlines AAL, operating revenues were $13,422 million in the second quarter, increasing 79.5% year over year. American Airlines Group Inc. (AAL): Free Stock Analysis Report With the surge in air-travel demand, Delta Air Lines DAL decided to add flights to European cities next summer.
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At American Airlines AAL, operating revenues were $13,422 million in the second quarter, increasing 79.5% year over year. American Airlines Group Inc. (AAL): Free Stock Analysis Report At United Airlines UAL, operating revenues of $12,112 million beat the Zacks Consensus Estimate of $12,033.7 million in the second quarter.
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At American Airlines AAL, operating revenues were $13,422 million in the second quarter, increasing 79.5% year over year. American Airlines Group Inc. (AAL): Free Stock Analysis Report Buoyant air-travel demand is also reflected in the 12.2% increase in total operating revenues from the second-quarter 2019 actuals despite operating at an 8% lower capacity.
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At American Airlines AAL, operating revenues were $13,422 million in the second quarter, increasing 79.5% year over year. American Airlines Group Inc. (AAL): Free Stock Analysis Report In the summer of 2023, Delta will operate flights (either new or resumed after the pandemic) to destinations like London-Heathrow, Paris, Geneva, Stuttgart and Berlin.
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3206.0
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2022-10-03 00:00:00 UTC
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JBLU vs. AAL: Economic Turbulence Pits Airline Stocks Against Each Other
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AAL
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https://www.nasdaq.com/articles/jblu-vs.-aal%3A-economic-turbulence-pits-airline-stocks-against-each-other
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nan
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nan
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Following the disastrous imposition of the COVID-19 outbreak, few equity subsectors suffered as much as airline stocks. Seemingly overnight, major airports turned into veritable ghost towns as few passengers desired to sit in close quarters with complete strangers. Even with pandemic-related fears and restrictions fading, new headwinds associated with economic undercurrents weighed heavily on the travel industry. With the airliners, two tickers, JBLU and AAL, may encounter discrepant results, moving forward.
To say that the pandemic represented a massive paradigm shift for airline stocks would be a gross understatement. Between February to April of 2020, the U.S. Bureau of Transportation Statistics reported that revenue passenger miles for U.S. carriers (for both domestic and international flights) fell a staggering 96.7%. At the time, little was known about COVID-19. Therefore, people kept their distance as a matter of caution.
Despite the obvious negative implications for airline stocks, a few bold contrarians bid up the market segment. Although many sector players reported poor bookings throughout 2020, the fundamental assumption was that eventually, circumstances would return to normal. Since biopharmaceutical companies were hard at work developing both therapeutics and vaccines, this narrative featured a logical trajectory.
Sure enough, government agencies gradually loosened COVID-related restrictions, initially boding very well for airline stocks. In addition, the phenomenon known as revenge travel or the pent-up demand among consumers to make up for lost time escalated dramatically.
However, the various catalysts for the airline stocks appear to have been short-lived. Earlier in the new normal, health-related concerns dominated wider consumer thought processes. Today, economic anxieties – particularly the possibility of a recession materializing from higher interest rates – pose headwinds for the airliners.
Nevertheless, if investors had to choose among various airline stocks, certain names could stand out over others.
JetBlue Airways (NASDAQ:JBLU)
One of the most popular discount airliners, JetBlue Airways fundamentally appears to have an edge against “premium” offerings. With consumers suffering from skyrocketing inflation throughout this year, JBLU seems a natural choice for airline stocks to buy. At some point, most folks find that they need to travel. So, why not do it at a lower price?
Unfortunately, this sentiment has not helped JetBlue financially. True, the company posted revenue of $2.45 billion in the second quarter of 2022, representing 63% growth against the year-ago period. However, the company posted a net loss of $188 million. In Q2 2021, JetBlue generated a net income of $64 million.
Currently, the discount airliner features retained earnings of $2.34 billion. At the end of 2019, this metric stood at $4.32 billion. Therefore, management needs to start bringing the business back to profitability.
However, economic circumstances might not allow for that. For instance, JetBlue theoretically could benefit from increased business travel. Sadly, though, major companies are starting to look into layoffs as they face recessionary pressures. Additionally, with the lower-income consumer segment likely to tighten its belt, JetBlue’s largely domestically-focused business incurs significant risks.
Is JBLU a Good Stock to Buy, According to Analysts?
Turning to Wall Street, JBLU stock has a Hold consensus rating based on one Buy, six Holds, and no Sell ratings. The average JBLU price target is $9.21, implying 38.4% upside potential.
American Airlines (NASDAQ:AAL)
While a larger entity than JetBlue, American Airlines suffers from similar pressures. Weighed down from a gradual erosion of consumer confidence, AAL stock has been feeling the heat. So far, though, a conspicuous difference is in financial performance.
In Q2 2022, American Airlines generated revenue of $13.42 billion, up 79.5% from the year-ago quarter. On the bottom line, the airliner posted a net income of $476 million in the most recent quarter. This compared very favorably to the net income of $19 million in Q2 2021.
That said, where JetBlue clearly has the advantage is in retained earnings. Right now, AAL features a loss of nearly $9.8 billion in this metric. In 2019, the company enjoyed retained earnings of $2.26 billion. From the perspective of stability, JBLU stock may seem like the better solution.
However, American Airlines features a partnership with Japan Airlines (OTC:JPNRF). Significantly, Japan will fully reopen to independent travelers on October 11. As one of the most popular tourist destinations, the Japanese government lagged other international agencies in reopening its country. Therefore, significant pent-up demand could exist, which may bolster AAL stock.
In addition, the Federal Reserve’s hawkish monetary policy means that the Dollar is substantially stronger than the Yen. That should help tourist dollars go much further, thereby appealing to consumers who have yet to exercise their revenge travel sentiments.
What is the Target Price for AAL Stock?
Turning to Wall Street, AAL stock has a Hold consensus rating based on zero Buys, eight Holds, and no Sell ratings. The average AAL price target is $16.57, implying 39.5% upside potential.
Conclusion: AAL Presents a Better Vision
On paper, JetBlue’s financial profile may be more appealing to conservative investors because of its positive retained earnings line item. However, when it comes to forward prospects, AAL is more attractive due to its international networks. Specifically, Japan’s reopening bodes well for American Airlines as outside factors such as U.S. Dollar strength versus the Yen help bolster the bullish narrative.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Conclusion: AAL Presents a Better Vision On paper, JetBlue’s financial profile may be more appealing to conservative investors because of its positive retained earnings line item. With the airliners, two tickers, JBLU and AAL, may encounter discrepant results, moving forward. American Airlines (NASDAQ:AAL) While a larger entity than JetBlue, American Airlines suffers from similar pressures.
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Turning to Wall Street, AAL stock has a Hold consensus rating based on zero Buys, eight Holds, and no Sell ratings. With the airliners, two tickers, JBLU and AAL, may encounter discrepant results, moving forward. American Airlines (NASDAQ:AAL) While a larger entity than JetBlue, American Airlines suffers from similar pressures.
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American Airlines (NASDAQ:AAL) While a larger entity than JetBlue, American Airlines suffers from similar pressures. With the airliners, two tickers, JBLU and AAL, may encounter discrepant results, moving forward. Weighed down from a gradual erosion of consumer confidence, AAL stock has been feeling the heat.
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Right now, AAL features a loss of nearly $9.8 billion in this metric. With the airliners, two tickers, JBLU and AAL, may encounter discrepant results, moving forward. American Airlines (NASDAQ:AAL) While a larger entity than JetBlue, American Airlines suffers from similar pressures.
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3207.0
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2022-10-03 00:00:00 UTC
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American Airlines (AAL) Stock Sinks As Market Gains: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-stock-sinks-as-market-gains%3A-what-you-should-know-1
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nan
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nan
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In the latest trading session, American Airlines (AAL) closed at $11.92, marking a -1% move from the previous day. This move lagged the S&P 500's daily gain of 2.59%. At the same time, the Dow added 2.66%, and the tech-heavy Nasdaq gained 0.11%.
Prior to today's trading, shares of the world's largest airline had lost 7.31% over the past month. This has was narrower than the Transportation sector's loss of 13.13% and the S&P 500's loss of 9.22% in that time.
Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. On that day, American Airlines is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 177.78%. Meanwhile, our latest consensus estimate is calling for revenue of $13.35 billion, up 48.81% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.83 per share and revenue of $48.18 billion. These totals would mark changes of +90.1% and +61.25%, respectively, from last year.
Any recent changes to analyst estimates for American Airlines should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.22% lower within the past month. American Airlines is currently sporting a Zacks Rank of #4 (Sell).
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the latest trading session, American Airlines (AAL) closed at $11.92, marking a -1% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.83 per share and revenue of $48.18 billion.
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In the latest trading session, American Airlines (AAL) closed at $11.92, marking a -1% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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In the latest trading session, American Airlines (AAL) closed at $11.92, marking a -1% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.83 per share and revenue of $48.18 billion.
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In the latest trading session, American Airlines (AAL) closed at $11.92, marking a -1% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report On that day, American Airlines is projected to report earnings of $0.77 per share, which would represent year-over-year growth of 177.78%.
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3208.0
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2022-10-03 00:00:00 UTC
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Noteworthy Monday Option Activity: CRM, DVN, AAL
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AAL
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https://www.nasdaq.com/articles/noteworthy-monday-option-activity%3A-crm-dvn-aal
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Salesforce Inc (Symbol: CRM), where a total of 30,196 contracts have traded so far, representing approximately 3.0 million underlying shares. That amounts to about 41.9% of CRM's average daily trading volume over the past month of 7.2 million shares. Especially high volume was seen for the $180 strike put option expiring June 16, 2023, with 1,500 contracts trading so far today, representing approximately 150,000 underlying shares of CRM. Below is a chart showing CRM's trailing twelve month trading history, with the $180 strike highlighted in orange:
Devon Energy Corp. (Symbol: DVN) saw options trading volume of 50,394 contracts, representing approximately 5.0 million underlying shares or approximately 41.5% of DVN's average daily trading volume over the past month, of 12.1 million shares. Particularly high volume was seen for the $66 strike call option expiring October 07, 2022, with 2,537 contracts trading so far today, representing approximately 253,700 underlying shares of DVN. Below is a chart showing DVN's trailing twelve month trading history, with the $66 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 135,538 contracts, representing approximately 13.6 million underlying shares or approximately 41.1% of AAL's average daily trading volume over the past month, of 33.0 million shares. Especially high volume was seen for the $12.50 strike call option expiring October 07, 2022, with 28,881 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12.50 strike highlighted in orange:
For the various different available expirations for CRM options, DVN options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $12.50 strike call option expiring October 07, 2022, with 28,881 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing DVN's trailing twelve month trading history, with the $66 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 135,538 contracts, representing approximately 13.6 million underlying shares or approximately 41.1% of AAL's average daily trading volume over the past month, of 33.0 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $12.50 strike highlighted in orange: For the various different available expirations for CRM options, DVN options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing DVN's trailing twelve month trading history, with the $66 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 135,538 contracts, representing approximately 13.6 million underlying shares or approximately 41.1% of AAL's average daily trading volume over the past month, of 33.0 million shares. Especially high volume was seen for the $12.50 strike call option expiring October 07, 2022, with 28,881 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12.50 strike highlighted in orange: For the various different available expirations for CRM options, DVN options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing DVN's trailing twelve month trading history, with the $66 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 135,538 contracts, representing approximately 13.6 million underlying shares or approximately 41.1% of AAL's average daily trading volume over the past month, of 33.0 million shares. Especially high volume was seen for the $12.50 strike call option expiring October 07, 2022, with 28,881 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12.50 strike highlighted in orange: For the various different available expirations for CRM options, DVN options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing DVN's trailing twelve month trading history, with the $66 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 135,538 contracts, representing approximately 13.6 million underlying shares or approximately 41.1% of AAL's average daily trading volume over the past month, of 33.0 million shares. Especially high volume was seen for the $12.50 strike call option expiring October 07, 2022, with 28,881 contracts trading so far today, representing approximately 2.9 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $12.50 strike highlighted in orange: For the various different available expirations for CRM options, DVN options, or AAL options, visit StockOptionsChannel.com.
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3209.0
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2022-10-03 00:00:00 UTC
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U.S. set to finalize new flight attendant rest time rules -sources
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AAL
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https://www.nasdaq.com/articles/u.s.-set-to-finalize-new-flight-attendant-rest-time-rules-sources
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nan
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nan
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By David Shepardson
WASHINGTON, Oct 3 (Reuters) - The U.S. Federal Aviation Administration (FAA) is set as early as Tuesday to require that airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018, sources told Reuters.
The FAA first proposed the rule in October 2021. Under existing rules, flight attendants get at least nine hours of rest time but it can be as little as eight hours in certain circumstances. The FAA declined to comment on Monday.
Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions.
Aviation unions previously told the FAA the majority of U.S. flight attendants typically do receive 10 hours of rest from airlines but urged the rule's quick adoption for safety and security reasons.
Last year, the FAA cited reports about the "potential for fatigue to be associated with poor performance of safety and security related tasks," including in 2017, when a flight attendant reported almost causing the gate agent to deploy an emergency exit slide, which was attributed to fatigue and other issues.
The FAA estimated last year the regulation could prompt the industry to hire another 1,042 flight attendants and cost $118 million annually. If hiring assumptions were cut in half, it said, that would cut estimated costs by over 30%.
After the FAA published an advance notice of the planned rules in 2019, Delta announce it would mandate the 10-hour rest requirement.
Sara Nelson, president of the Association of Flight Attendants representing 50,000 workers at 17 airlines, said last year the rule was critical.
"Congress mandated 10 hours irreducible rest in October 2018, but the prior administration put the rule on a process to kill it."
(Reporting by David Shepardson; Editing by Leslie Adler and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions. Aviation unions previously told the FAA the majority of U.S. flight attendants typically do receive 10 hours of rest from airlines but urged the rule's quick adoption for safety and security reasons. Sara Nelson, president of the Association of Flight Attendants representing 50,000 workers at 17 airlines, said last year the rule was critical.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions. By David Shepardson WASHINGTON, Oct 3 (Reuters) - The U.S. Federal Aviation Administration (FAA) is set as early as Tuesday to require that airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018, sources told Reuters. Aviation unions previously told the FAA the majority of U.S. flight attendants typically do receive 10 hours of rest from airlines but urged the rule's quick adoption for safety and security reasons.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions. By David Shepardson WASHINGTON, Oct 3 (Reuters) - The U.S. Federal Aviation Administration (FAA) is set as early as Tuesday to require that airline flight attendants receive at least 10 hours of rest time between shifts, an action that Congress directed in 2018, sources told Reuters. Aviation unions previously told the FAA the majority of U.S. flight attendants typically do receive 10 hours of rest from airlines but urged the rule's quick adoption for safety and security reasons.
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Airlines for America, a trade group representing major carriers including American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.N and others, had previously estimated the rule would cost its members $786 million over 10 years for the 66% of U.S. flight attendants its members employ, resulting from things like unpaid idle time away from home and schedule disruptions. The FAA estimated last year the regulation could prompt the industry to hire another 1,042 flight attendants and cost $118 million annually. "Congress mandated 10 hours irreducible rest in October 2018, but the prior administration put the rule on a process to kill it."
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3210.0
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2022-10-03 00:00:00 UTC
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American Airlines CEO defends JetBlue alliance in antitrust trial
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo-defends-jetblue-alliance-in-antitrust-trial
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nan
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nan
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By Diane Bartz and David Shepardson
WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O said an alliance with JetBlue Airways Corp JBLU.O was needed to fend off big rivals in key markets and did not violate antitrust law as the U.S. Justice Department has alleged.
Chief Executive Robert Isom said that he had been concerned about competition from Delta and United, particularly in Boston and the New York area.
"The opportunity to create the Northeast Alliance is absolutely an opportunity to make American stronger in a place that we have been historically weak," he said.
He took issue with suggestions from Justice Department attorney Bill Jones that American, the world's largest airline, could have expanded without JetBlue.
Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers."
The U.S. Justice Department, six states and the District of Columbia are urging a federal judge in Boston to force American and JetBlue to scrap their Northeast Alliance (NEA). The government called it a "de facto merger" of their Boston and New York operations in which they coordinate flights and pool revenue to the detriment of travelers, which it argues face $700 million in extra annual costs.
Isom was pressed on a March 2020 email he sent recounting a conversation with former Delta Chief Executive Richard Anderson about the massive falloff in travel demand from the COVID-19 pandemic.
Isom's email said there was agreement the "industry is going to have to shed a tremendous amount of capacity -- turning the dial back 5 years as a guide to what 2021 looks like."
Congress awarded $54 billion to U.S. airlines in payroll assistance through September 2021 that prevented many significant cuts the industry forecasted.
U.S. District Judge Leo Sorokin, in Boston, will decide the case.
(Reporting by Diane Bartz and David Shepardson; Editing by Bernadette Baum)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O said an alliance with JetBlue Airways Corp JBLU.O was needed to fend off big rivals in key markets and did not violate antitrust law as the U.S. Justice Department has alleged. The U.S. Justice Department, six states and the District of Columbia are urging a federal judge in Boston to force American and JetBlue to scrap their Northeast Alliance (NEA). The government called it a "de facto merger" of their Boston and New York operations in which they coordinate flights and pool revenue to the detriment of travelers, which it argues face $700 million in extra annual costs.
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O said an alliance with JetBlue Airways Corp JBLU.O was needed to fend off big rivals in key markets and did not violate antitrust law as the U.S. Justice Department has alleged. Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers." (Reporting by Diane Bartz and David Shepardson; Editing by Bernadette Baum) ((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O said an alliance with JetBlue Airways Corp JBLU.O was needed to fend off big rivals in key markets and did not violate antitrust law as the U.S. Justice Department has alleged. Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers." The U.S. Justice Department, six states and the District of Columbia are urging a federal judge in Boston to force American and JetBlue to scrap their Northeast Alliance (NEA).
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O said an alliance with JetBlue Airways Corp JBLU.O was needed to fend off big rivals in key markets and did not violate antitrust law as the U.S. Justice Department has alleged. He took issue with suggestions from Justice Department attorney Bill Jones that American, the world's largest airline, could have expanded without JetBlue. The U.S. Justice Department, six states and the District of Columbia are urging a federal judge in Boston to force American and JetBlue to scrap their Northeast Alliance (NEA).
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3211.0
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2022-10-03 00:00:00 UTC
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American Airlines CEO defends JetBlue alliance in antitrust trial
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AAL
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https://www.nasdaq.com/articles/american-airlines-ceo-defends-jetblue-alliance-in-antitrust-trial-0
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nan
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nan
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By Diane Bartz and David Shepardson
WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O denied Monday that his company's alliance with JetBlue Airways Corp JBLU.O meant that the two airlines had created a de facto merger in the northeastern United States.
Chief Executive Robert Isom, testifying in an antitrust trial in Boston, pushed back against assertions that the companies acted as a single airline in Boston and the New York area following creation of their Northeast Alliance in 2020. The Justice Department has asked a judge to order it undone.
Justice Department attorney Bill Jones said that in the four airports covered by the alliance, customers would view JetBlue and American as a single company.
"No, that's not true," Isom said quickly. "We have our own gate. We have our own planes. We have our own services that make us distinct."
Isom also testified that he had been concerned about competition from Delta and United, particularly in Boston and the New York area.
And he took issue with suggestions that American, the world's largest airline, could have expanded without JetBlue.
The Justice Department's Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers."
The U.S. Justice Department, six states and the District of Columbia have called the alliance a "de facto merger" of the companies' Boston and New York operations, in which they coordinate flights and pool revenue to the detriment of travelers, which it argues face $700 million in extra annual costs.
Isom was pressed on a March 2020 email he sent recounting a conversation with former Delta Chief Executive Richard Anderson about the massive falloff in travel demand from the COVID-19 pandemic.
Isom's email said there was agreement the "industry is going to have to shed a tremendous amount of capacity -- turning the dial back 5 years as a guide to what 2021 looks like."
Congress awarded $54 billion to U.S. airlines in payroll assistance through September 2021 that prevented many significant cuts the industry had forecast.
U.S. District Judge Leo Sorokin, in Boston, will decide the case.
(Reporting by Diane Bartz and David Shepardson; Editing by Bernadette Baum)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O denied Monday that his company's alliance with JetBlue Airways Corp JBLU.O meant that the two airlines had created a de facto merger in the northeastern United States. Justice Department attorney Bill Jones said that in the four airports covered by the alliance, customers would view JetBlue and American as a single company. The U.S. Justice Department, six states and the District of Columbia have called the alliance a "de facto merger" of the companies' Boston and New York operations, in which they coordinate flights and pool revenue to the detriment of travelers, which it argues face $700 million in extra annual costs.
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O denied Monday that his company's alliance with JetBlue Airways Corp JBLU.O meant that the two airlines had created a de facto merger in the northeastern United States. Justice Department attorney Bill Jones said that in the four airports covered by the alliance, customers would view JetBlue and American as a single company. The Justice Department's Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers."
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O denied Monday that his company's alliance with JetBlue Airways Corp JBLU.O meant that the two airlines had created a de facto merger in the northeastern United States. Chief Executive Robert Isom, testifying in an antitrust trial in Boston, pushed back against assertions that the companies acted as a single airline in Boston and the New York area following creation of their Northeast Alliance in 2020. The Justice Department's Jones suggested American did not have to worry about JetBlue going after premium customers in Boston, which Isom disputed saying he said both airlines "are going to go after all premium customers."
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By Diane Bartz and David Shepardson WASHINGTON, Oct 3 (Reuters) - The head of American Airlines Group AAL.O denied Monday that his company's alliance with JetBlue Airways Corp JBLU.O meant that the two airlines had created a de facto merger in the northeastern United States. Chief Executive Robert Isom, testifying in an antitrust trial in Boston, pushed back against assertions that the companies acted as a single airline in Boston and the New York area following creation of their Northeast Alliance in 2020. Justice Department attorney Bill Jones said that in the four airports covered by the alliance, customers would view JetBlue and American as a single company.
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3212.0
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2022-10-03 00:00:00 UTC
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United Airlines Holdings Stock Looks Set For A Come Back
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AAL
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https://www.nasdaq.com/articles/united-airlines-holdings-stock-looks-set-for-a-come-back
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nan
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nan
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United Airlines Holdings Inc. stock (NASDAQ: UAL) is down 6.1% in the past week, strongly underperforming the S&P 500 which was down 1.8% over this period. If you look at the change over the last ten days, too, the stock has returned -12%, performing much worse than the broader markets. United’s most recent Q2 ’22 earnings report, saw revenue rising from $5.47 billion in Q2 ’21 to $12.1 billion in Q2 ’22, driven primarily by a $6.5 billion rise in sales from the passenger segment. Rising fuel expenses saw operating costs nearly double over this period, but the company still reported operating income of $878 million, up strongly from an operating loss of $270 million for Q2 ’21. Despite a rise in the effective tax rate, the company’s net earnings rose, and EPS came in higher at $1.01, compared to -$1.34 in Q2 ’21.
Now, is United Airlines stock set to continue its underperformance or could we expect a bounce back? We believe that there is a strong 67% chance of a rise in UAL stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. See our analysis on UAL Stock Chance of Rise. For additional details about the company’s historical returns and comparison to peers, see United Airlines Holdings (UAL) Stock Return.
Twenty-One Day: UAL -5.8%, vs. S&P500 -8%; Outperformed market
(25% likelihood event; 67% probability of rise over next 21 days)
UAL stock lost 5.8% over the last twenty-one trading days (one month), compared to a broader market (S&P500) drop of 8%
A change of -5.8% or more over twenty-one trading days is a 25% likelihood event, which has occurred 623 times out of 2514 in the last 10 years
Of these 623 instances, the stock has seen a positive movement over the next twenty-one trading days on 415 occasions
This points to a 67% probability for the stock rising over the next twenty-one trading days
Ten Day: UAL -12%, vs. S&P500 -6.1%; Underperformed market
(5% likelihood event; 46% probability of rise over next 10 days)
UAL stock lost 12% over the last ten trading days (two weeks), compared to a broader market (S&P500) drop of 6.1%
A change of -12% or more over ten trading days is a 5% likelihood event, which has occurred 138 times out of 2515 in the last 10 years
Of these 138 instances, the stock has seen a positive movement over the next ten trading days on 63 occasions
This points to a 46% probability for the stock rising over the next ten trading days
Five Day: UAL -6.1%, vs. S&P500 -1.8%; Outperformed market
(12% likelihood event; 57% probability of rise over next five days)
UAL stock lost 6.1% over a five-day trading period ending 9/28/2022, compared to the broader market (S&P500) which was down 1.8% over this period.
A change of -6.1% or more over five trading days (one week) is a 12% likelihood event, which has occurred 300 times out of 2515 in the last 10 years
Of these 300 instances, the stock has seen a positive movement over the next five trading days on 172 occasions
This points to a 57% probability for the stock rising over the next five trading days
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Sep 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
UAL Return -6% -25% -55%
S&P 500 Return -8% -24% 63%
Trefis Multi-Strategy Portfolio -12% -26% 194%
[1] Month-to-date and year-to-date as of 9/29/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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United Airlines Holdings Inc. stock (NASDAQ: UAL) is down 6.1% in the past week, strongly underperforming the S&P 500 which was down 1.8% over this period. Despite a rise in the effective tax rate, the company’s net earnings rose, and EPS came in higher at $1.01, compared to -$1.34 in Q2 ’21. Now, is United Airlines stock set to continue its underperformance or could we expect a bounce back?
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United Airlines Holdings Inc. stock (NASDAQ: UAL) is down 6.1% in the past week, strongly underperforming the S&P 500 which was down 1.8% over this period. For additional details about the company’s historical returns and comparison to peers, see United Airlines Holdings (UAL) Stock Return. Twenty-One Day: UAL -5.8%, vs. S&P500 -8%; Outperformed market (25% likelihood event; 67% probability of rise over next 21 days) UAL stock lost 5.8% over the last twenty-one trading days (one month), compared to a broader market (S&P500) drop of 8% A change of -5.8% or more over twenty-one trading days is a 25% likelihood event, which has occurred 623 times out of 2514 in the last 10 years Of these 623 instances, the stock has seen a positive movement over the next twenty-one trading days on 415 occasions This points to a 67% probability for the stock rising over the next twenty-one trading days Ten Day: UAL -12%, vs. S&P500 -6.1%; Underperformed market (5% likelihood event; 46% probability of rise over next 10 days) UAL stock lost 12% over the last ten trading days (two weeks), compared to a broader market (S&P500) drop of 6.1% A change of -12% or more over ten trading days is a 5% likelihood event, which has occurred 138 times out of 2515 in the last 10 years Of these 138 instances, the stock has seen a positive movement over the next ten trading days on 63 occasions This points to a 46% probability for the stock rising over the next ten trading days Five Day: UAL -6.1%, vs. S&P500 -1.8%; Outperformed market (12% likelihood event; 57% probability of rise over next five days) UAL stock lost 6.1% over a five-day trading period ending 9/28/2022, compared to the broader market (S&P500) which was down 1.8% over this period.
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Twenty-One Day: UAL -5.8%, vs. S&P500 -8%; Outperformed market (25% likelihood event; 67% probability of rise over next 21 days) UAL stock lost 5.8% over the last twenty-one trading days (one month), compared to a broader market (S&P500) drop of 8% A change of -5.8% or more over twenty-one trading days is a 25% likelihood event, which has occurred 623 times out of 2514 in the last 10 years Of these 623 instances, the stock has seen a positive movement over the next twenty-one trading days on 415 occasions This points to a 67% probability for the stock rising over the next twenty-one trading days Ten Day: UAL -12%, vs. S&P500 -6.1%; Underperformed market (5% likelihood event; 46% probability of rise over next 10 days) UAL stock lost 12% over the last ten trading days (two weeks), compared to a broader market (S&P500) drop of 6.1% A change of -12% or more over ten trading days is a 5% likelihood event, which has occurred 138 times out of 2515 in the last 10 years Of these 138 instances, the stock has seen a positive movement over the next ten trading days on 63 occasions This points to a 46% probability for the stock rising over the next ten trading days Five Day: UAL -6.1%, vs. S&P500 -1.8%; Outperformed market (12% likelihood event; 57% probability of rise over next five days) UAL stock lost 6.1% over a five-day trading period ending 9/28/2022, compared to the broader market (S&P500) which was down 1.8% over this period. A change of -6.1% or more over five trading days (one week) is a 12% likelihood event, which has occurred 300 times out of 2515 in the last 10 years Of these 300 instances, the stock has seen a positive movement over the next five trading days on 172 occasions This points to a 57% probability for the stock rising over the next five trading days What if you’re looking for a more balanced portfolio instead? Total [2] UAL Return -6% -25% -55% S&P 500 Return -8% -24% 63% Trefis Multi-Strategy Portfolio -12% -26% 194% [1] Month-to-date and year-to-date as of 9/29/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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If you look at the change over the last ten days, too, the stock has returned -12%, performing much worse than the broader markets. We believe that there is a strong 67% chance of a rise in UAL stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last ten years. For additional details about the company’s historical returns and comparison to peers, see United Airlines Holdings (UAL) Stock Return.
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3213.0
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2022-10-03 00:00:00 UTC
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Major U.S. airlines in no rush to resume stock buybacks as ban ends
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AAL
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https://www.nasdaq.com/articles/major-u.s.-airlines-in-no-rush-to-resume-stock-buybacks-as-ban-ends
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nan
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nan
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Oct 3 (Reuters) - Major U.S. airlines said on Monday they have no immediate plans to resume stock buybacks after a Congress-imposed ban expired last month, amid pressure from unions to boost worker pay and fix operational issues.
"Our highest financial priorities right now are restoring our balance sheet and investing in our employees and customers," United Airlines UAL.O said in an emailed statement.
The carrier plans to take delivery of nearly 300 new aircraft over the next several years.
As air travel roars back, airlines are also prioritizing on debt reduction following a borrowing binge during the pandemic.
The big three national carriers - American Airlines AAL.O, United and Delta Air Lines DAL.N – had a combined $85 billion in net long-term debt at the end of the second quarter.
Cost pressures due to a shortage of workers and mounting economic worries have also sparked investor concerns on carriers' ability to repair balance sheets, likely limiting room for capital returns.
"Delta's top financial priority is restoring its financial foundation by generating sustained and meaningful profitability and cash flow to support debt reduction and reinvestment in the business," the airline said.
American Airlines pointed to chief financial officer Derek Kerr's interview in August to The Associated Press, when he said the carrier had no plans to do any share repurchases and all of its excess liquidity would be used to pay off debt.
As part of the federal COVID-19 relief package, airlines had been prohibited from buying back their shares. The ban had expired on Sept. 30.
Airline unions, representing hundreds of thousands of workers, had launched a public campaign against stock buybacks in August. Some U.S. lawmakers are also pressing airlines not to resume stock buybacks.
Delta, American and United Airlines are schedule to report earnings in the next few weeks.
(Reporting by Priyamvada C and Abhijith Ganapavaram in Bengaluru; Editing by Krishna Chandra Eluri)
((Abhijith.G@thomsonreuters.com; +91-9019785574;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The big three national carriers - American Airlines AAL.O, United and Delta Air Lines DAL.N – had a combined $85 billion in net long-term debt at the end of the second quarter. Oct 3 (Reuters) - Major U.S. airlines said on Monday they have no immediate plans to resume stock buybacks after a Congress-imposed ban expired last month, amid pressure from unions to boost worker pay and fix operational issues. Cost pressures due to a shortage of workers and mounting economic worries have also sparked investor concerns on carriers' ability to repair balance sheets, likely limiting room for capital returns.
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The big three national carriers - American Airlines AAL.O, United and Delta Air Lines DAL.N – had a combined $85 billion in net long-term debt at the end of the second quarter. Oct 3 (Reuters) - Major U.S. airlines said on Monday they have no immediate plans to resume stock buybacks after a Congress-imposed ban expired last month, amid pressure from unions to boost worker pay and fix operational issues. Some U.S. lawmakers are also pressing airlines not to resume stock buybacks.
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The big three national carriers - American Airlines AAL.O, United and Delta Air Lines DAL.N – had a combined $85 billion in net long-term debt at the end of the second quarter. Oct 3 (Reuters) - Major U.S. airlines said on Monday they have no immediate plans to resume stock buybacks after a Congress-imposed ban expired last month, amid pressure from unions to boost worker pay and fix operational issues. "Delta's top financial priority is restoring its financial foundation by generating sustained and meaningful profitability and cash flow to support debt reduction and reinvestment in the business," the airline said.
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The big three national carriers - American Airlines AAL.O, United and Delta Air Lines DAL.N – had a combined $85 billion in net long-term debt at the end of the second quarter. Oct 3 (Reuters) - Major U.S. airlines said on Monday they have no immediate plans to resume stock buybacks after a Congress-imposed ban expired last month, amid pressure from unions to boost worker pay and fix operational issues. "Our highest financial priorities right now are restoring our balance sheet and investing in our employees and customers," United Airlines UAL.O said in an emailed statement.
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3214.0
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2022-09-30 00:00:00 UTC
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United Airlines will halt service at New York's JFK airport
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AAL
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https://www.nasdaq.com/articles/united-airlines-will-halt-service-at-new-yorks-jfk-airport
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 30 (Reuters) - United Airlines UAL.O said on Friday it will suspend service in late October to New York's John F. Kennedy Airport (JFK).
Earlier this month, United had threatened to take the action if the Federal Aviation Administration (FAA) did not grant the air carrier additional flights.
United has been flying just twice daily to San Francisco and Los Angeles from JFK, the busiest New York-area airport, after resuming service in 2021.
"Given our current, too-small-to-be-competitive schedule out of JFK — coupled with the start of the Winter season where more airlines will operate their slots as they resume JFK flying — United has made the difficult decision to temporarily suspend service at JFK," United said in a memo seen by Reuters. The airline did not specify when it might resume service.
United said its "discussions with FAA have
been constructive" but added "it's also clear that process to add additional capacity at JFK will take some time."
United said the decision would impact 100 employees who work at JFK but emphasized that "no one is losing their job" and employees will transition to other nearby stations.
United has been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and by seeking commercial agreements to acquire slots from other airlines.
United said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O.
United in 2015 struck a long-term deal to lease 24 year-round slots at JFK to Delta Air Lines DAL.N as it ended JFK service to concentrate at its nearby Newark hub in northern New Jersey.
United argues there is room to grow at JFK, the 13th-busiest U.S. airport, because the FAA and the Port Authority since 2008 have made significant infrastructure investments including "the widening of runways, construction of multi-entrance taxiways, and the creation of aligned high-speed turnoffs."
(Reporting by David Shepardson Editing by Chris Reese and Sandra Maler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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United said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 30 (Reuters) - United Airlines UAL.O said on Friday it will suspend service in late October to New York's John F. Kennedy Airport (JFK). United argues there is room to grow at JFK, the 13th-busiest U.S. airport, because the FAA and the Port Authority since 2008 have made significant infrastructure investments including "the widening of runways, construction of multi-entrance taxiways, and the creation of aligned high-speed turnoffs."
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United said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 30 (Reuters) - United Airlines UAL.O said on Friday it will suspend service in late October to New York's John F. Kennedy Airport (JFK). "Given our current, too-small-to-be-competitive schedule out of JFK — coupled with the start of the Winter season where more airlines will operate their slots as they resume JFK flying — United has made the difficult decision to temporarily suspend service at JFK," United said in a memo seen by Reuters.
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United said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 30 (Reuters) - United Airlines UAL.O said on Friday it will suspend service in late October to New York's John F. Kennedy Airport (JFK). "Given our current, too-small-to-be-competitive schedule out of JFK — coupled with the start of the Winter season where more airlines will operate their slots as they resume JFK flying — United has made the difficult decision to temporarily suspend service at JFK," United said in a memo seen by Reuters.
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United said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. Earlier this month, United had threatened to take the action if the Federal Aviation Administration (FAA) did not grant the air carrier additional flights. "Given our current, too-small-to-be-competitive schedule out of JFK — coupled with the start of the Winter season where more airlines will operate their slots as they resume JFK flying — United has made the difficult decision to temporarily suspend service at JFK," United said in a memo seen by Reuters.
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3215.0
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2022-09-30 00:00:00 UTC
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Unusual Options Activity and Flow in American Airlines Group (AAL)
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AAL
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https://www.nasdaq.com/articles/unusual-options-activity-and-flow-in-american-airlines-group-aal
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nan
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nan
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O
n September 29, 2022, among the underlying components of the NYSE, Unusual Whales saw unusual or noteworthy options trading volume and activity in American Airlines Group (AAL) 10/21 C $12.50.
The following screenshot from Unusual Whales shows a large premium, bearish, contracts that are monthly and ask-side. The Bid-Ask is $0.75 - $0.82, the premium is $5K to $115K, open interest is at 783, and the volume is from 179 to 6.1K.
You can see the full noteworthy options in AAL at Unusual Whales. It is vital to look at the whole flow to better conceptualize unusual options, which we will give a screenshot of below.
Looking at the historical flow, you can see further information. Seen above at the very top is the aforementioned chain’s historical volume of puts and calls, in red and green respectively, and the price in white. Seen in the middle is the price, in blue, gamma score, in purple, flow ratio, in green, and cumulative premium options effect, or COPE, in orange.
The Unusual Whales intraday analyst page shows further information, as well. Looking at intraday analyst page for today, you can see the most active chains and chains with the highest open interest, as well as the intraday options volume, with puts and calls being noted in red and green respectively.
To view more information about AAL daily flow breakdown, click here to visit unusualwhales.com.
Please note, as well, that the following information is not investment advice. Options are risky, and you can lose all or some of your investment. Do your own research before any investment, and see the full terms of Unusual Whales for details.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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n September 29, 2022, among the underlying components of the NYSE, Unusual Whales saw unusual or noteworthy options trading volume and activity in American Airlines Group (AAL) 10/21 C $12.50. You can see the full noteworthy options in AAL at Unusual Whales. To view more information about AAL daily flow breakdown, click here to visit unusualwhales.com.
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You can see the full noteworthy options in AAL at Unusual Whales. n September 29, 2022, among the underlying components of the NYSE, Unusual Whales saw unusual or noteworthy options trading volume and activity in American Airlines Group (AAL) 10/21 C $12.50. To view more information about AAL daily flow breakdown, click here to visit unusualwhales.com.
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n September 29, 2022, among the underlying components of the NYSE, Unusual Whales saw unusual or noteworthy options trading volume and activity in American Airlines Group (AAL) 10/21 C $12.50. You can see the full noteworthy options in AAL at Unusual Whales. To view more information about AAL daily flow breakdown, click here to visit unusualwhales.com.
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You can see the full noteworthy options in AAL at Unusual Whales. n September 29, 2022, among the underlying components of the NYSE, Unusual Whales saw unusual or noteworthy options trading volume and activity in American Airlines Group (AAL) 10/21 C $12.50. To view more information about AAL daily flow breakdown, click here to visit unusualwhales.com.
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3216.0
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2022-09-30 00:00:00 UTC
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American Airlines (AAL) Dips More Than Broader Markets: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-dips-more-than-broader-markets%3A-what-you-should-know-4
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nan
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nan
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In the latest trading session, American Airlines (AAL) closed at $12.04, marking a -1.71% move from the previous day. This change lagged the S&P 500's 1.51% loss on the day. Elsewhere, the Dow lost 1.71%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the world's largest airline had lost 5.26% over the past month, outpacing the Transportation sector's loss of 13.7% and the S&P 500's loss of 9.52% in that time.
Investors will be hoping for strength from American Airlines as it approaches its next earnings release. The company is expected to report EPS of $0.50, up 150.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.35 billion, up 48.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.83 per share and revenue of $48.18 billion. These totals would mark changes of +90.1% and +61.25%, respectively, from last year.
Any recent changes to analyst estimates for American Airlines should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.22% lower. American Airlines currently has a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the latest trading session, American Airlines (AAL) closed at $12.04, marking a -1.71% move from the previous day. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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In the latest trading session, American Airlines (AAL) closed at $12.04, marking a -1.71% move from the previous day. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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In the latest trading session, American Airlines (AAL) closed at $12.04, marking a -1.71% move from the previous day. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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In the latest trading session, American Airlines (AAL) closed at $12.04, marking a -1.71% move from the previous day. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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3217.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street futures resume fall as economic worries weigh
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-futures-resume-fall-as-economic-worries-weigh
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nan
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nan
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For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Futures down: Dow 0.76%, S&P 0.84%, Nasdaq 1.02%
Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets.
Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading.
U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
But calm from the BoE's bond purchases promise proved short-lived with a rout in gilts spilling over into even safe-haven U.S. Treasuries and top-rated German bonds.
Wall Street's main indexes have been battered this year, with surging U.S. bond yields further diminishing the appeal for stocks as investors found more attractive alternatives in U.S. Treasuries.
The yields on many Treasuries - which are considered virtually risk-free if held to maturity - now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
At 5:15 a.m. ET, Dow e-minis 1YMcv1 were down 225 points, or 0.76%, S&P 500 e-minis EScv1 were down 31.25 points, or 0.84%, and Nasdaq 100 e-minis NQcv1 were down 117.75 points, or 1.02%.
American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell about 2.5% each after they delayed or canceled trips in anticipation of the hurricane.
Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. Final economic growth figures for the second quarter are also due. A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought.
(Reporting by Susan Mathew in Bengaluru; Editing by Anil D'Silva)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. Wall Street's main indexes have been battered this year, with surging U.S. bond yields further diminishing the appeal for stocks as investors found more attractive alternatives in U.S. Treasuries.
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American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Futures down: Dow 0.76%, S&P 0.84%, Nasdaq 1.02% Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
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American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Futures down: Dow 0.76%, S&P 0.84%, Nasdaq 1.02% Sept 29 (Reuters) - The Dow and S&P futures fell for the seventh time in eight sessions on Thursday as investors worried about a global downturn from aggressive rate hikes by central banks and weighed the risk of a potential contagion from a turmoil in UK markets. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
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American Airlines AAL.O fell about 2.4% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.8% and 1.6% in premarket trading. U.S. stocks ended sharply higher on Wednesday, as markets globally took heart from the Bank of England seeking to stabilize UK markets after a turmoil caused by the government's new economic plan.
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3218.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street tumbles on growing concerns over economic growth
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-tumbles-on-growing-concerns-over-economic-growth
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse.
Out of the 11 S&P sector indexes, six of them dropped more than 2%. The Nasdaq .IXIC fell over 1% due to losses in megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O. They were down between 2.41% and 4.12%.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
In the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.
Wall Street's main indexes recorded hefty declines in the first hour of trading, poised to wipe out almost all of the previous session's gains.
"You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
Data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while gross domestic product fell at an unrevised 0.6% annualized rate in the last quarter.
At 9:59 a.m. ET, the Dow Jones Industrial Average .DJI was down 469.62 points, or 1.58%, at 29,214.12, the S&P 500 .SPX was down 73.40 points, or 1.97%, at 3,645.64, and the Nasdaq Composite .IXIC was down 284.83 points, or 2.58%, at 10,766.81.
Airline carriers and cruise operators fell on cancelling or delaying trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%.
Cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 4.10% and 4.52%.
Declining issues outnumbered advancers for a 12.35-to-1 ratio on the NYSE and a 4.69-to-1 ratio on the Nasdaq.
The S&P index recorded no new 52-week highs and 58 new lows, while the Nasdaq recorded three new highs and 242 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%. "You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
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American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN (Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva and Arun Koyyur) ((susan.mathew@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while gross domestic product fell at an unrevised 0.6% annualized rate in the last quarter.
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American Airlines AAL.O fell about 3.84%, while United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 3.54% and 4.37%. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes slipped on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Out of the 11 S&P sector indexes, six of them dropped more than 2%.
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3219.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street ends down sharply; investors fret over economy
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-down-sharply-investors-fret-over-economy
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech-related heavyweights Tesla Inc TSLA.O, Apple Inc AAPL.O and Nvidia Corp NVDA.O all slumping, the Nasdaq sank to near its lowest level of 2022, set in mid-June.
The S&P 500 .SPX touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.
A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. US/
Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.
Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
According to preliminary data, the S&P 500 .SPX lost 77.83 points, or 2.09%, to end at 3,641.21 points, while the Nasdaq Composite .IXIC lost 313.25 points, or 2.83%, to 10,738.39. The Dow Jones Industrial Average .DJI fell 455.19 points, or 1.53%, to 29,228.55.
Meta Platforms META.O ended lower after Bloomberg reported the Facebook-owner froze hiring and warned employees of more downsizing to come.
CarMax Inc KMX.N slumped after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N also fell sharply.
Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost ground.
Cruise ship companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N also fell.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva, Arun Koyyur and Jonathan Oatis)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost ground. By Noel Randewich and Ankika Biswas Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost ground. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost ground. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost ground. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes. According to preliminary data, the S&P 500 .SPX lost 77.83 points, or 2.09%, to end at 3,641.21 points, while the Nasdaq Composite .IXIC lost 313.25 points, or 2.83%, to 10,738.39.
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3220.0
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2022-09-29 00:00:00 UTC
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November 11th Options Now Available For American Airlines Group (AAL)
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AAL
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https://www.nasdaq.com/articles/november-11th-options-now-available-for-american-airlines-group-aal
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the November 11th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new November 11th contracts and identified one put and one call contract of particular interest.
The put contract at the $12.00 strike price has a current bid of 97 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $12.00, but will also collect the premium, putting the cost basis of the shares at $11.03 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $12.28/share today.
Because the $12.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 8.08% return on the cash commitment, or 68.55% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $12.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $13.00 strike price has a current bid of 83 cents. If an investor was to purchase shares of AAL stock at the current price level of $12.28/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $13.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 12.62% if the stock gets called away at the November 11th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red:
Considering the fact that the $13.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.76% boost of extra return to the investor, or 57.32% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $12.28) to be 57%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the November 11th expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the November 11th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new November 11th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the November 11th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new November 11th contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 6% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available today, for the November 11th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new November 11th contracts and identified one put and one call contract of particular interest.
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3221.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street skids as investors fret about U.S. economic downturn
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-skids-as-investors-fret-about-u.s.-economic-downturn
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 29 (Reuters) - Wall Street tumbled on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech-related heavyweights Tesla TSLA.O, Apple AAPL.O and Nvidia NVDA.O slumping 5% or more, the Nasdaq .IXIC was near its lowest closing level of 2022, set in mid-June.
The S&P 500 .SPX was on track for its lowest close since November 2020. It has lost 8% in September.
A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. US/
Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.
Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
In afternoon trading, the Dow Jones Industrial Average .DJI was down 2.17% at 29,041.04 points, while the S&P 500 .SPX lost 2.72% to 3,617.89.
The Nasdaq Composite .IXIC dropped 3.62% to 10,651.56.
All of the 11 S&P 500 sector indexes dropped, with consumer discretionary .SPLRCD tumbling 4% as automobile stocks slumped.
CarMax Inc KMX.N slumped over 20% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N also took a hit, each dropping more than 6%.
Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%.
Cruise ship companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 6.4% and 7.8%, respectively.
Declining issues outnumbered advancing ones on the NYSE by a 7.64-to-1 ratio; on Nasdaq, a 4.12-to-1 ratio favored decliners.
The S&P 500 posted no new 52-week highs and 100 new lows; the Nasdaq Composite recorded six new highs and 447 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva, Arun Koyyur and Jonathan Oatis)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%. By Noel Randewich and Ankika Biswas Sept 29 (Reuters) - Wall Street tumbled on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes. The Nasdaq Composite .IXIC dropped 3.62% to 10,651.56.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each fell more than 4%. A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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3222.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street set to open lower on growing economic downturn worries
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-set-to-open-lower-on-growing-economic-downturn-worries
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse.
The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
In the previous session, the S&P 500 recorded its first gain in seven sessions. The benchmark index has lost about $9.1 trillion in market value this year and was last valued at $31.2 trillion, according to Datastream.
"You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
Meanwhile, comments from the Federal Reserve's Cleveland President Loretta Mester echoed other central bank officials through the week, who have vowed more interest rate hikes to tame inflation.
Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
At 8:37 a.m. ET, Dow e-minis 1YMcv1 were down 364 points, or 1.22%, S&P 500 e-minis EScv1 were down 55 points, or 1.47%, and Nasdaq 100 e-minis NQcv1 were down 207.75 points, or 1.8%.
American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
Share of peers United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 1.6% and 2.0%.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 2.1% after they delayed or canceled trips in anticipation of the hurricane.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. "You need to see the market beginning to stabilize and that's not going to happen until it gets a sense of whether or not the Fed is done raising interest rates or earning season comes in better than expected," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut. Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
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American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. ET, Dow e-minis 1YMcv1 were down 364 points, or 1.22%, S&P 500 e-minis EScv1 were down 55 points, or 1.47%, and Nasdaq 100 e-minis NQcv1 were down 207.75 points, or 1.8%.
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American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. Latest data showed the U.S. labor market remained resilient as the number of Americans filing new claims for unemployment benefits unexpectedly fell last week to 193,000 despite the Fed's steep interest rate increases and slowing demand.
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American Airlines AAL.O fell about 2.2% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock indexes were set to open lower on Thursday as worries of a global economic downturn from aggressive central bank rate hikes and risks of potential contagion from a turmoil in UK markets turned investors risk averse. The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 1.6% and 2.7% in premarket trading.
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3223.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Wall Street ends down sharply; investors fret over economy
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-ends-down-sharply-investors-fret-over-economy-0
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nan
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nan
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By Noel Randewich and Ankika Biswas
Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets.
With tech heavyweights Apple Inc AAPL.O and Nvidia Corp NVDA.O slumping more than 4%, the Nasdaq sank to near its lowest level of 2022, set in mid-June.
The S&P 500 .SPX touched lows last seen in November 2020. Down more than 8% in September, the benchmark is on track for its worst September since 2008.
A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. US/
Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%.
Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
"Good news is bad news in that today's job number again reiterates that the Fed has a long way to go," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "The fear in the marketplace is that the Fed is going to push us into a very deep recession, which will cause an earnings recession, which is why the market is selling off."
The most traded stock in the S&P 500 was Tesla Inc TSLA.O, with $20.8 billion worth of shares exchanged during the session. The shares declined 6.8%.
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
The S&P 500 dropped 2.11% to end the session at 3,640.47 points.
The Nasdaq declined 2.84% to 10,737.51 points, while the Dow Jones Industrial Average declined 1.54% to 29,225.61 points.
Volume on U.S. exchanges was relatively heavy, with 11.6 billion shares traded, compared with an average of 11.4 billion shares over the previous 20 sessions.
All 11 S&P 500 sector indexes declined, led lower by utilities .SPLRCU, down 4.06%, followed by a 3.37% loss in consumer discretionary .SPLRCD.
Declining stocks outnumbered rising ones within the S&P 500 .AD.SPX by an 11.6-to-1 ratio.
Meta Platforms META.O ended down 3.7% after Bloomberg reported the Facebook owner froze hiring and warned employees of more downsizing to come.
CarMax Inc KMX.N slumped nearly 25% after the used-car retailer missed expectations for second-quarter results, hurt by consumers cutting spending amid inflation, rising interest rates and higher car prices.
General Motors Co GM.N and Ford Motor Co F.N fell more than 5% each.
Airline carriers and cruise operators fell on canceled or delayed trips after Hurricane Ian hit Florida's Gulf Coast with catastrophic force.
American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%.
Cruise ship operators Norwegian Cruise Line Holdings Ltd NCLH.N dropped 5.3% and Carnival Corp CCL.N fell 6.8%.
The S&P 500 posted no new highs and 106 new lows; the Nasdaq recorded 14 new highs and 518 new lows.
S&P 500 sheds $9 trillion in 2022 market routhttps://tmsnrt.rs/3UHHXiN
(Reporting by Susan Mathew, Ankika Biswas and Shreyashi Sanyal in Bengaluru; Additional reporting by Medha Singh; Editing by Anil D'Silva, Arun Koyyur and Jonathan Oatis)
((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780; +91 961 144 3740; Twitter: https://twitter.com/s_shreyashi;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%. By Noel Randewich and Ankika Biswas Sept 29 (Reuters) - Wall Street ended sharply lower on Thursday on worries that the Federal Reserve's aggressive fight against inflation could hobble the U.S. economy, and as investors fretted about a rout in global currency and debt markets. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%. US/ Cleveland Fed President Loretta Mester said she does not see distress in U.S. financial markets that would alter the central bank's campaign to lower inflation through rate hikes that have taken the Fed funds rate to a range of 3.0% to 3.25%. Data showed the number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite the Fed's aggressive interest rate hikes.
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American Airlines AAL.O, United Airlines Holdings UAL.O and Delta Air Lines DAL.N each lost more than 2%. A sell-off in U.S. Treasuries resumed as Fed officials gave no indication the U.S. central bank would moderate or change its plans to aggressively raise interest rates to bring down high inflation. The shares declined 6.8%.
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3224.0
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2022-09-29 00:00:00 UTC
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US STOCKS-Futures fall on growing worries of economic downturn
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AAL
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https://www.nasdaq.com/articles/us-stocks-futures-fall-on-growing-worries-of-economic-downturn
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nan
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nan
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By Susan Mathew and Ankika Biswas
Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets.
The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading.
The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds.
Even though U.S. stocks ended sharply higher in previous session due to easing Treasury yields, they have been battered for a large part of the year as surging yields dented the appeal for stocks.
"The world is transitioning from a low interest rate environment to a high interest rate environment," said Andrea Cicione, head of strategy at TS Lombard.
"The market is repricing macro risks and the catalyst obviously this year has been the Fed and other central banks starting to hike rates... The question about debt sustainability and funding countries with current account deficits has become extremely real."
The yields on many Treasuries, which are considered virtually risk-free if held to maturity, now dwarf the S&P 500's dividend yield, which recently stood at about 1.8%, according to Refinitiv Datastream.
At 7:01 a.m. ET, Dow e-minis 1YMcv1 were down 198 points, or 0.67%, S&P 500 e-minis EScv1 were down 31.5 points, or 0.84%, and Nasdaq 100 e-minis NQcv1 were down 133.75 points, or 1.16%.
American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
Share of peers United Airlines Holdings UAL.O, Southwest Airlines LUV.N and Delta Air Lines DAL.N fell between 0.1% and 1.1%.
U.S. cruise companies Norwegian Cruise Line Holdings Ltd NCLH.N and Carnival Corp CCL.N fell 1.6% and 1.9% after they delayed or canceled trips in anticipation of the hurricane.
Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. Final economic growth figures for the second quarter are also due.
A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought.
Comments from the Federal Reserve's Cleveland President Loretta Mester on inflation will also be on the investor watch-list.
(Reporting by Susan Mathew and Ankika Biswas in Bengaluru; Editing by Anil D'Silva and Arun Koyyur)
((susan.mathew@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading.
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American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. "The world is transitioning from a low interest rate environment to a high interest rate environment," said Andrea Cicione, head of strategy at TS Lombard.
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American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. The calm brought about by the Bank of England's decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government's new economic plan was short-lived.
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American Airlines AAL.O fell about 1% as carriers canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. By Susan Mathew and Ankika Biswas Sept 29 (Reuters) - U.S. stock index futures fell on Thursday on worries of a global economic downturn from aggressive interest-rate hikes by central banks and risks of a potential contagion from a turmoil in UK markets. The Dow 1YMcv1 and S&P 500 e-minis EScv1 fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc AMZN.O, Apple Inc AAPL.O, Microsoft Corp MSFT.O, Meta Platforms Inc FB.O and Tesla Inc TSLA.O lost between 0.9% and 2.1% in premarket trading.
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3225.0
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2022-09-28 00:00:00 UTC
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Airlines cancel 2,000 U.S. flights for Thursday
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AAL
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https://www.nasdaq.com/articles/airlines-cancel-2000-u.s.-flights-for-thursday
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nan
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nan
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By David Shepardson
Sept 28 (Reuters) - Airlines canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years.
The hurricane is causing significant disruptions to U.S. air travel, especially in the southeast United States. Since Tuesday airlines have canceled more than 5,000 flights through Friday.
Airlines canceled 2,163 flights Wednesday as a number of Florida airports temporarily halted operations, including Tampa, Orlando, Sarasota-Bradenton, Melbourne, Daytona Beach, Naples and St Petersburg/Clearwater.
Airline tracking website Flightaware said 1,935 flights for Thursday had been canceled and 738 Friday flights scrapped. Airlines canceled 403 flights Tuesday ahead of the storm.
The Orlando airport said it expects to resume commercial operations sometime on Friday. The Tampa airport said it will be closed through at least Thursday.
Walt Disney DIS.Nsaid on Tuesday it would close its Orlando theme parks on Wednesday and Thursday.
Florida is a major part of U.S. aviation, and some carriers like JetBlue Airways JBLU.O and Southwest Airlines LUV.N typically expect 40% or more of their daily flights to touch a Florida airport.
Through Wednesday, JetBlue canceled 25% of its U.S. flights and 20% of Thursday flights, while Southwest canceled 13% of Wednesday flights and 9% for Thursday. Another 3,106 U.S. flights were delayed on Wednesday.
Airlines offered waivers for travelers impacted by the hurricane to rebook tickets without charge.
(Reporting by David Shepardson; Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson Sept 28 (Reuters) - Airlines canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Airlines canceled 2,163 flights Wednesday as a number of Florida airports temporarily halted operations, including Tampa, Orlando, Sarasota-Bradenton, Melbourne, Daytona Beach, Naples and St Petersburg/Clearwater. Airlines offered waivers for travelers impacted by the hurricane to rebook tickets without charge.
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By David Shepardson Sept 28 (Reuters) - Airlines canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Airlines canceled 2,163 flights Wednesday as a number of Florida airports temporarily halted operations, including Tampa, Orlando, Sarasota-Bradenton, Melbourne, Daytona Beach, Naples and St Petersburg/Clearwater. Through Wednesday, JetBlue canceled 25% of its U.S. flights and 20% of Thursday flights, while Southwest canceled 13% of Wednesday flights and 9% for Thursday.
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By David Shepardson Sept 28 (Reuters) - Airlines canceled almost 2,000 U.S. flights for Thursday after Hurricane Ian hit Florida's Gulf Coast with catastrophic force in one of most powerful U.S. storms in recent years. Airline tracking website Flightaware said 1,935 flights for Thursday had been canceled and 738 Friday flights scrapped. Through Wednesday, JetBlue canceled 25% of its U.S. flights and 20% of Thursday flights, while Southwest canceled 13% of Wednesday flights and 9% for Thursday.
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Since Tuesday airlines have canceled more than 5,000 flights through Friday. Airlines canceled 403 flights Tuesday ahead of the storm. Through Wednesday, JetBlue canceled 25% of its U.S. flights and 20% of Thursday flights, while Southwest canceled 13% of Wednesday flights and 9% for Thursday.
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3226.0
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2022-09-28 00:00:00 UTC
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Lawmakers, unions press U.S. airlines to hold off on stock buybacks
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AAL
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https://www.nasdaq.com/articles/lawmakers-unions-press-u.s.-airlines-to-hold-off-on-stock-buybacks
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nan
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nan
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By David Shepardson
Sept 28 (Reuters) - Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week.
Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, is holding a hearing on Thursday on investing in transportation workers that will discuss the issue.
DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community."
Aviation unions launched a campaign in August to pressure airlines against stock buybacks. It came as major carriers are negotiating new contracts with their pilots, who are asking for higher pay and improvements in schedules.
Sara Nelson, president of the Association of Flight Attendants, is among those will testify at Thursday's House hearing.
"While airlines are just now starting to make a profit, the recovery is not complete and the austerity of twenty years prior has not been corrected for airline jobs," according to Nelson's written testimony seen by Reuters. "We can’t allow CEOs to send one dollar to Wall Street before fixing operational issues and concluding contract negotiations."
Airlines for America, a trade group, said airlines are in full compliance with the payroll assistance program.
The group noted U.S. airlines have been "aggressively hiring across the industry ... to accommodate the rapid return of demand for air travel" and are "making significant investments in new aircraft."
Congress approved $54 billion in three rounds covering much of U.S. airline payroll costs for 18 months through September 2021. Earlier this month, the chairs of two other congressional committees sought a federal probe into whether airlines used payroll funds to fund pilot buyouts and early retirements.
American Airlines AAL.O received $12.6 billion, Delta Air Lines DAL.N $11.9 billion, United Airlines UAL.O $10.9 billion and Southwest Airlines LUV.N $7.2 billion.
Out of $54 billion, airlines must repay $14 billion, or 26.2% of the funding.
(Reporting by David Shepardson Editing by Chris Reese)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O received $12.6 billion, Delta Air Lines DAL.N $11.9 billion, United Airlines UAL.O $10.9 billion and Southwest Airlines LUV.N $7.2 billion. By David Shepardson Sept 28 (Reuters) - Labor unions and some U.S. lawmakers are pressing airlines not to resume stock buybacks after a COVID assistance prohibition expires this week. DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community."
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American Airlines AAL.O received $12.6 billion, Delta Air Lines DAL.N $11.9 billion, United Airlines UAL.O $10.9 billion and Southwest Airlines LUV.N $7.2 billion. Representative Peter DeFazio, a Democrat who chairs the House Transportation and Infrastructure Committee, is holding a hearing on Thursday on investing in transportation workers that will discuss the issue. Earlier this month, the chairs of two other congressional committees sought a federal probe into whether airlines used payroll funds to fund pilot buyouts and early retirements.
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American Airlines AAL.O received $12.6 billion, Delta Air Lines DAL.N $11.9 billion, United Airlines UAL.O $10.9 billion and Southwest Airlines LUV.N $7.2 billion. DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community." "While airlines are just now starting to make a profit, the recovery is not complete and the austerity of twenty years prior has not been corrected for airline jobs," according to Nelson's written testimony seen by Reuters.
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American Airlines AAL.O received $12.6 billion, Delta Air Lines DAL.N $11.9 billion, United Airlines UAL.O $10.9 billion and Southwest Airlines LUV.N $7.2 billion. DeFazio is circulating a letter to colleagues seen by Reuters that urges airlines to "refrain from initiating stock buybacks ... at least until air carriers are able to publish and fulfill schedules that meet demand; staff flights and key personnel positions appropriately; and return service to every community." It came as major carriers are negotiating new contracts with their pilots, who are asking for higher pay and improvements in schedules.
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3227.0
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2022-09-28 00:00:00 UTC
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Interesting AAL Put And Call Options For May 2023
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AAL
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https://www.nasdaq.com/articles/interesting-aal-put-and-call-options-for-may-2023
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the May 2023 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 233 days until expiration the newly available contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new May 2023 contracts and identified one put and one call contract of particular interest.
The put contract at the $9.00 strike price has a current bid of 95 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $9.00, but will also collect the premium, putting the cost basis of the shares at $8.05 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $12.59/share today.
Because the $9.00 strike represents an approximate 29% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 85%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 10.56% return on the cash commitment, or 16.54% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $9.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $13.00 strike price has a current bid of $2.39. If an investor was to purchase shares of AAL stock at the current price level of $12.59/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $13.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 22.24% if the stock gets called away at the May 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red:
Considering the fact that the $13.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 41%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 18.98% boost of extra return to the investor, or 29.74% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 73%, while the implied volatility in the call contract example is 62%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $12.59) to be 57%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the May 2023 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the May 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new May 2023 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the May 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new May 2023 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $13.00 strike highlighted in red: Considering the fact that the $13.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options become available this week, for the May 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new May 2023 contracts and identified one put and one call contract of particular interest.
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3228.0
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2022-09-28 00:00:00 UTC
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FACTBOX-U.S. companies gird themselves as Hurricane Ian makes landfall
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AAL
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https://www.nasdaq.com/articles/factbox-u.s.-companies-gird-themselves-as-hurricane-ian-makes-landfall
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nan
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nan
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Adds Mosaic, Cargill, Perdue Farms, Tyson Foods
Sept 28 (Reuters) - Hurricane Ian makes landfall in Florida with Category 4 fury on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters.
Ian hit Florida's Gulf Coast with catastrophic force, pummeling the state with howling winds, torrential rain and a treacherous surge of ocean surf that made it one of the most powerful storms on record to hit the United States.
Several U.S. companies have curtailed operations as they brace for impact:
HEAVY INDUSTRY AND TRANSPORT
Airlines have canceled nearly 2,000 U.S. flights as of Wednesday morning and scrapped 1,608 Thursday flights, as per FlightAware data, with American Airlines Group Inc AAL.O and Southwest Airlines Co LUV.N among the worst hit.
Some airports in Florida, including Orlando International Airport, have also halted operations.
United Parcel Service Inc UPS.N said services in Florida "may be impacted". The company continues to provide pickup and delivery services as conditions permit.
ENERGY AND POWER
BP Plc BP.Levacuated personnel and halted output at its Na Kika and Thunder Horse offshore production platforms in the Gulf of Mexico on Monday. Since then, it has been working to redeploy offshore personnel after determining Hurricane Ian no longer posed a significant threat to its assets.
Chevron Corp CVX.N also removed staff from two offshore Gulf of Mexico platforms.
Occidental Petroleum Corp OXY.N and Hess Corp HES.N said they had taken precautions ahead of the storm's arrival and were implementing storm procedures without providing specifics.
Customers of utilities including NextEra Energy Inc's NEE.N Florida Power & Light Co and Duke Energy Corp DUK.N were affected by outages.
RETAILERS
Amazon.com Inc AMZN.O, which has about 10 fulfillment centers in Florida, will pause its operations in some sites in the state. A spokesperson said the company was monitoring the hurricane and making adjustments to operations to keep warehouse staff and drivers safe.
More than 100 Walmart and Sam Clubs stores were closed in Florida, according to Walmart Inc's WMT.N website.
Target Corp TGT.N said it has temporarily closed or adjusted hours of all store locations in the storm's immediate path.
Costco Wholesale Corp COST.O closed nine stores located in Florida due to an impact of Hurricane Ian.
THEME PARKS AND RESORTS
Walt Disney Co DIS.N will close its theme and water parks on Wednesday and Thursday, while some of its hotels in the state were set to be closed through Friday. A spokesperson said the attractions that will be closed on Wednesday and Thursday include Animal Kingdom, Hollywood Studios, Epcot and Magic Kingdom.
Comcast Corp's CMCSA.O Universal Resort and SeaWorld Entertainment Inc SEAS.N will be closed on Wednesday and Thursday.
CRUISE OPERATORS
Walt Disney Co's Disney Cruise Line on Tuesday canceled its Disney Wish ship that was to set sail from Florida on Friday.
Carnival Corp's CCL.N Carnival Cruise Line on Tuesday canceled two of its Thursday sailings from Florida due to port closures while also calling off a few stops on certain ships already on the sea.
Norwegian Cruise Line Holdings Ltd NCLH.N changed the itinerary of its Norwegian Sky's eight-day Western Caribbean voyage, which departed from Miami on Sunday. The company also canceled a Thursday sailing of Norwegian Getaway's ten-day Caribbean voyage departing from Florida.
Royal Caribbean Group RCL.N said it has postponed a Thursday sailing of its Mariner of the Seas cruise to Friday. This was due to Port Canaveral's expected closure on Wednesday through Friday morning, while some of its other ships stayed at the sea or rerouted and called off a few stops.
PHARMACEUTICALS
Drugstore retailer Walgreens Boots Alliance WBA.O said Florida pharmacies can refill medications for a 30-day supply without permission from a doctor or other prescribers, except in the case of controlled substances.
FINANCIALS
Wealth manager Raymond James Financial Inc RJF.N said its headquarters in St. Petersburg, Florida would be closed on Wednesday and Thursday. In the meantime, the bank's offices in Memphis, Southfield and Denver would support critical operations.
AGRICULTURE, FOOD AND FERTILIZERS
Fertilizer maker Mosaic Co MOS.N said all of its Florida locations have been secured, with some fully evacuated while minimal staff remain at other sites. Employees at the company's headquarters in downtown Tampa and at other locations in Florida are working remotely.
Agribusiness Cargill closed grain-processing, salt-packaging, and starches and sweeteners facilities in the Tampa, Florida, area, spokesman Daniel Sullivan said. The company also shut an animal-nutrition facility in the Poinciana-Kissimmee area, he said.
Perdue Farms, which raises chickens for meat, is preparing sandbags, checking generators and making sure farms have enough feed, spokeswoman Diana Souder said. The company is adjusting delivery and processing schedules as needed, she said.
Tyson Foods Inc TSN.N, the biggest U.S. meat company by sales, is preparing to deploy a disaster relief team, spokeswoman Kelly Hellbusch said.
(Reporting by Ruhi Soni, Ananya Mariam Rajesh, Priyamvada C, Eva Mathews, Manas Mishra and Niket Nishant in Bengaluru; Editing by Maju Samuel, Shinjini Ganguli and Krishna Chandra Eluri)
((Ruhi.Soni@thomsonreuters.com Twitter: https://twitter.com/ruhithere))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines have canceled nearly 2,000 U.S. flights as of Wednesday morning and scrapped 1,608 Thursday flights, as per FlightAware data, with American Airlines Group Inc AAL.O and Southwest Airlines Co LUV.N among the worst hit. Adds Mosaic, Cargill, Perdue Farms, Tyson Foods Sept 28 (Reuters) - Hurricane Ian makes landfall in Florida with Category 4 fury on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. BP Plc BP.Levacuated personnel and halted output at its Na Kika and Thunder Horse offshore production platforms in the Gulf of Mexico on Monday.
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Airlines have canceled nearly 2,000 U.S. flights as of Wednesday morning and scrapped 1,608 Thursday flights, as per FlightAware data, with American Airlines Group Inc AAL.O and Southwest Airlines Co LUV.N among the worst hit. Adds Mosaic, Cargill, Perdue Farms, Tyson Foods Sept 28 (Reuters) - Hurricane Ian makes landfall in Florida with Category 4 fury on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. Walt Disney Co's Disney Cruise Line on Tuesday canceled its Disney Wish ship that was to set sail from Florida on Friday.
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Airlines have canceled nearly 2,000 U.S. flights as of Wednesday morning and scrapped 1,608 Thursday flights, as per FlightAware data, with American Airlines Group Inc AAL.O and Southwest Airlines Co LUV.N among the worst hit. Costco Wholesale Corp COST.O closed nine stores located in Florida due to an impact of Hurricane Ian. Carnival Corp's CCL.N Carnival Cruise Line on Tuesday canceled two of its Thursday sailings from Florida due to port closures while also calling off a few stops on certain ships already on the sea.
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Airlines have canceled nearly 2,000 U.S. flights as of Wednesday morning and scrapped 1,608 Thursday flights, as per FlightAware data, with American Airlines Group Inc AAL.O and Southwest Airlines Co LUV.N among the worst hit. Target Corp TGT.N said it has temporarily closed or adjusted hours of all store locations in the storm's immediate path. Costco Wholesale Corp COST.O closed nine stores located in Florida due to an impact of Hurricane Ian.
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3229.0
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2022-09-28 00:00:00 UTC
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Major Airlines To Restrict Operation As Ian Continues To Rage
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https://www.nasdaq.com/articles/major-airlines-to-restrict-operation-as-ian-continues-to-rage
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(RTTNews) - Major US airlines are halting their operations in the Caribbean islands and Florida as Ian develops into a hurricane and thrashes in Cuba. The hurricane which is still marked as category 3 is rapidly gaining strength and is feared to become category 4 before its landfall on Florida today.
American Airlines (AAL) has already issued a travel alert on 20 airports that are in the landfall zones of the hurricane. AA will also arrange for last minute flights for people wanting to evacuate by air for reduced costs. The company is also waiving off checked bags fee for up to two bags on certain locations and waiving fees for carry-on pets from the affected locations. Those who would not fly due to the calamity will be allowed to reschedule their flights without any additional charges.
Another major airline, Delta Airlines (DAL), have updated on their website that the there will be no flights from Tampa International Airport (TPA), Sarasota Bradenton International Airport (SRQ) and Southwest Florida International Airport (RSW), from Tuesday evening. Flights will also not operate from Orlando International Airport (MCO) from Wednesday. All operations are expected to resume from Friday, depending on the conditions. The airlines is expected to operate on other locations depending on the weather. However, the company has urged the passengers to keep checking the website or mobile application for updates on their flights.
Southwest Airlines (LUV) issued updates on its website saying that it will suspend operations in Tampa, Sarasota, Fort Myers, Orlando and Havana, Cuba till Thursday, at least.
Ian has already made its landfall in Cuba where 50,000 people were evacuated to shelters. Over 2.5 million people from the area have been asked to evacuate immediately.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) has already issued a travel alert on 20 airports that are in the landfall zones of the hurricane. (RTTNews) - Major US airlines are halting their operations in the Caribbean islands and Florida as Ian develops into a hurricane and thrashes in Cuba. Southwest Airlines (LUV) issued updates on its website saying that it will suspend operations in Tampa, Sarasota, Fort Myers, Orlando and Havana, Cuba till Thursday, at least.
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American Airlines (AAL) has already issued a travel alert on 20 airports that are in the landfall zones of the hurricane. The company is also waiving off checked bags fee for up to two bags on certain locations and waiving fees for carry-on pets from the affected locations. Another major airline, Delta Airlines (DAL), have updated on their website that the there will be no flights from Tampa International Airport (TPA), Sarasota Bradenton International Airport (SRQ) and Southwest Florida International Airport (RSW), from Tuesday evening.
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American Airlines (AAL) has already issued a travel alert on 20 airports that are in the landfall zones of the hurricane. (RTTNews) - Major US airlines are halting their operations in the Caribbean islands and Florida as Ian develops into a hurricane and thrashes in Cuba. Another major airline, Delta Airlines (DAL), have updated on their website that the there will be no flights from Tampa International Airport (TPA), Sarasota Bradenton International Airport (SRQ) and Southwest Florida International Airport (RSW), from Tuesday evening.
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American Airlines (AAL) has already issued a travel alert on 20 airports that are in the landfall zones of the hurricane. The company is also waiving off checked bags fee for up to two bags on certain locations and waiving fees for carry-on pets from the affected locations. Another major airline, Delta Airlines (DAL), have updated on their website that the there will be no flights from Tampa International Airport (TPA), Sarasota Bradenton International Airport (SRQ) and Southwest Florida International Airport (RSW), from Tuesday evening.
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3230.0
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2022-09-28 00:00:00 UTC
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South Africa's Jagersfontein mine dam owner denies second collapse
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https://www.nasdaq.com/articles/south-africas-jagersfontein-mine-dam-owner-denies-second-collapse
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Recasts with denial from company
Sept 28 (Reuters) - Jagersfontein Developments, the owner of a mine wastedam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government.
"There has been no further breach of any kind at the facility," the company said in a statement, adding that reports about a further collapse are "unfounded and untrue".
After rains on Sunday and Monday, storm water is flowing in areas where mine waste has spilled, Jagersfontein Developments said, and government officials were on site with the company on Tuesday to deal with flows through an adjacent dam.
The provincial government late on Tuesday said another wall of the mine dam had collapsed, adding that it was still trying to establish the extent of the water flow and that emergency crews were at the scene.
The tailings dam collapse on Sept 11 unleashing a flood of grey sludge that swept away houses and cars,leaving one person dead and scores injured.
The day after the collapse, South Africa's Department of Water and Sanitation authorised Jagersfontein Developments to pump mine waste from a second compartment of the dam into the historic Jagersfontein diamond mine pit, a process the company said on Wednesday it had started.
(Reporting by Bhargav Acharya in Bengaluru; editing by Sandra Maler and Jason Neely)
((Bhargav.Acharya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Recasts with denial from company Sept 28 (Reuters) - Jagersfontein Developments, the owner of a mine wastedam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government. The provincial government late on Tuesday said another wall of the mine dam had collapsed, adding that it was still trying to establish the extent of the water flow and that emergency crews were at the scene. The tailings dam collapse on Sept 11 unleashing a flood of grey sludge that swept away houses and cars,leaving one person dead and scores injured.
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Recasts with denial from company Sept 28 (Reuters) - Jagersfontein Developments, the owner of a mine wastedam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government. After rains on Sunday and Monday, storm water is flowing in areas where mine waste has spilled, Jagersfontein Developments said, and government officials were on site with the company on Tuesday to deal with flows through an adjacent dam. The provincial government late on Tuesday said another wall of the mine dam had collapsed, adding that it was still trying to establish the extent of the water flow and that emergency crews were at the scene.
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Recasts with denial from company Sept 28 (Reuters) - Jagersfontein Developments, the owner of a mine wastedam that partially collapsed two weeks ago, denied on Wednesday that another dam wall had collapsed, contradicting a statement from the Free State provincial government. After rains on Sunday and Monday, storm water is flowing in areas where mine waste has spilled, Jagersfontein Developments said, and government officials were on site with the company on Tuesday to deal with flows through an adjacent dam. The day after the collapse, South Africa's Department of Water and Sanitation authorised Jagersfontein Developments to pump mine waste from a second compartment of the dam into the historic Jagersfontein diamond mine pit, a process the company said on Wednesday it had started.
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"There has been no further breach of any kind at the facility," the company said in a statement, adding that reports about a further collapse are "unfounded and untrue". After rains on Sunday and Monday, storm water is flowing in areas where mine waste has spilled, Jagersfontein Developments said, and government officials were on site with the company on Tuesday to deal with flows through an adjacent dam. The provincial government late on Tuesday said another wall of the mine dam had collapsed, adding that it was still trying to establish the extent of the water flow and that emergency crews were at the scene.
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3231.0
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2022-09-27 00:00:00 UTC
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Airlines scrap over 2,000 U.S. flights as Hurricane Ian set to make landfall
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AAL
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https://www.nasdaq.com/articles/airlines-scrap-over-2000-u.s.-flights-as-hurricane-ian-set-to-make-landfall
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By David Shepardson and Kannaki Deka
Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state.
Airlines had scrapped 367 flights on Tuesday and 1,748 on Wednesday across the United States, according to flight-tracking website Flightaware.com.
About 1,800 flights within, into or out of the United States were delayed on Tuesday, Flightaware.com data showed.
Hurricane Ian entered the U.S. Gulf of Mexico on Tuesday and is forecast to become a dangerous category 4 storm over the warm waters of the Gulf, according to National Hurricane Center forecaster Eric Blake.
It is expected to bring hurricane-force winds of up to 130 mph (209 kph) and as much as 2 feet (0.6 meter) of rain to the Tampa area starting early on Wednesday through Thursday evening.
Both Tampa and St. Pete-Clearwater airports in southwest Florida halted operations on Tuesday, while the Sarasota Bradenton Airport will suspend operations at 8 p.m. (0000 GMT) and Orlando Airport will cease operations at 10:30 a.m. Wednesday.
Walt Disney DIS.Nsaid on Tuesday it would close its Orlando theme parks on Wednesday and Thursday.
Even Florida airports not closing were experiencing major impacts. Airlines canceled about 40% of flights at Miami International Airport on Wednesday.
Florida is a major part of U.S. aviation and some airlines like JetBlue Airways JBLU.O and Southwest Airlines LUV.N typically expect 40% or more of their daily flights touch a Florida airport.
Through Tuesday afternoon, JetBlue has canceled 24% of its U.S. flights on Wednesday, while Southwest has canceled 9%.
Southwest suspended operations on Tuesday in Havana, Cuba, and is suspending operations at some Florida airports.
The Federal Aviation Administration said it was "closely monitoring" Hurricane Ian and its path.
Major U.S. carriers also halted some operations.
American Airlines AAL.O issued a travel alert for 20 airports in the western Caribbean and Florida waiving change fees for ticket booked by Sept. 23.
(Reporting by Kannaki Deka in Bengaluru and David Shepardson in Washington; Editing by Krishna Chandra Eluri and Josie Kao)
((Kannaki.Deka@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O issued a travel alert for 20 airports in the western Caribbean and Florida waiving change fees for ticket booked by Sept. 23. By David Shepardson and Kannaki Deka Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. It is expected to bring hurricane-force winds of up to 130 mph (209 kph) and as much as 2 feet (0.6 meter) of rain to the Tampa area starting early on Wednesday through Thursday evening.
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American Airlines AAL.O issued a travel alert for 20 airports in the western Caribbean and Florida waiving change fees for ticket booked by Sept. 23. By David Shepardson and Kannaki Deka Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. Both Tampa and St. Pete-Clearwater airports in southwest Florida halted operations on Tuesday, while the Sarasota Bradenton Airport will suspend operations at 8 p.m. (0000 GMT) and Orlando Airport will cease operations at 10:30 a.m. Wednesday.
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American Airlines AAL.O issued a travel alert for 20 airports in the western Caribbean and Florida waiving change fees for ticket booked by Sept. 23. By David Shepardson and Kannaki Deka Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. Both Tampa and St. Pete-Clearwater airports in southwest Florida halted operations on Tuesday, while the Sarasota Bradenton Airport will suspend operations at 8 p.m. (0000 GMT) and Orlando Airport will cease operations at 10:30 a.m. Wednesday.
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American Airlines AAL.O issued a travel alert for 20 airports in the western Caribbean and Florida waiving change fees for ticket booked by Sept. 23. By David Shepardson and Kannaki Deka Sept 27 (Reuters) - Airlines canceled over 2,000 U.S. flights on Tuesday and Wednesday and some Florida airports halted operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. Even Florida airports not closing were experiencing major impacts.
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3232.0
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2022-09-27 00:00:00 UTC
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Another mine dam wall collapses in South Africa
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https://www.nasdaq.com/articles/another-mine-dam-wall-collapses-in-south-africa
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Sept 27 (Reuters) - A mine dam wall has collapsed at a diamond mine in South Africa's Free State province just weeks after a similar incident at the same site left one person dead and scores of injured, the provincial government said on Tuesday.
The incident occurred in the diamond mining town of Jagersfontein, which on Sept. 11 saw a dam holding liquid mine waste from a tailings reprocessing operation burst open, releasing a flood of mine slurry that swept away houses and cars.
There were no immediate reports of any injuries or deaths from the latest dam wall collapse at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L.
The provincial government in a statement said it was still trying to establish the extent of the water flow, adding that emergency crews were at the scene.
(Reporting by Bhargav Acharya in Bengaluru; Editing by Sandra Maler)
((Bhargav.Acharya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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There were no immediate reports of any injuries or deaths from the latest dam wall collapse at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. Sept 27 (Reuters) - A mine dam wall has collapsed at a diamond mine in South Africa's Free State province just weeks after a similar incident at the same site left one person dead and scores of injured, the provincial government said on Tuesday. The provincial government in a statement said it was still trying to establish the extent of the water flow, adding that emergency crews were at the scene.
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There were no immediate reports of any injuries or deaths from the latest dam wall collapse at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. Sept 27 (Reuters) - A mine dam wall has collapsed at a diamond mine in South Africa's Free State province just weeks after a similar incident at the same site left one person dead and scores of injured, the provincial government said on Tuesday. The provincial government in a statement said it was still trying to establish the extent of the water flow, adding that emergency crews were at the scene.
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There were no immediate reports of any injuries or deaths from the latest dam wall collapse at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. Sept 27 (Reuters) - A mine dam wall has collapsed at a diamond mine in South Africa's Free State province just weeks after a similar incident at the same site left one person dead and scores of injured, the provincial government said on Tuesday. The incident occurred in the diamond mining town of Jagersfontein, which on Sept. 11 saw a dam holding liquid mine waste from a tailings reprocessing operation burst open, releasing a flood of mine slurry that swept away houses and cars.
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There were no immediate reports of any injuries or deaths from the latest dam wall collapse at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. Sept 27 (Reuters) - A mine dam wall has collapsed at a diamond mine in South Africa's Free State province just weeks after a similar incident at the same site left one person dead and scores of injured, the provincial government said on Tuesday. The incident occurred in the diamond mining town of Jagersfontein, which on Sept. 11 saw a dam holding liquid mine waste from a tailings reprocessing operation burst open, releasing a flood of mine slurry that swept away houses and cars.
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3233.0
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2022-09-27 00:00:00 UTC
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Airlines scrap over 1,200 U.S. flights as Hurricane Ian set to make landfall
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https://www.nasdaq.com/articles/airlines-scrap-over-1200-u.s.-flights-as-hurricane-ian-set-to-make-landfall
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nan
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Sept 27 (Reuters) - Airlines canceled over a thousand U.S. flights on Tuesday and Wednesday and several Florida airports are halting operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state.
Airlines had scrapped 321 flights on Tuesday and 1,148 on Wednesday across the U.S., according to flight-tracking website Flightaware.com.
About 1,400 flights within, into, or out of the United States were delayed as of Tuesday, Flightaware.com data showed.
Hurricane Ian entered the U.S. Gulf of Mexico on Tuesday and is forecast to become a dangerous, category 4 storm over the warm waters of the Gulf, according to National Hurricane Center forecaster Eric Blake.
It is expected to bring hurricane-force winds of up to 130 mph (209 kph) and as much as 2 feet (0.6 meter) of rain to the Tampa area starting early on Wednesday through Thursday evening.
St. Pete-Clearwater Airport halted operations at 1 p.m. ET Tuesday, while Tampa Airport will halt operations at 5 p.m. and Orlando International Airport will cease operations at 10:30 a.m. Wednesday.
The Federal Aviation Administration said it was "closely monitoring" Hurricane Ian and its path.
Major U.S. carriers also halted some operations.
"We've suspended operations today in Havana, Cuba, and will suspend operations beginning this evening in Tampa, Sarasota, and Fort Myers through Thursday, Sept. 29, 2022," Southwest Airlines Co LUV.N said in a statement.
American Airlines Group Inc AAL.O said it has issued a travel alert for 20 airports in the western Caribbean and Florida.
(Reporting by Kannaki Deka in Bengaluru and David Shepardson in Washington; Editing by Krishna Chandra Eluri)
((Kannaki.Deka@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group Inc AAL.O said it has issued a travel alert for 20 airports in the western Caribbean and Florida. Sept 27 (Reuters) - Airlines canceled over a thousand U.S. flights on Tuesday and Wednesday and several Florida airports are halting operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. It is expected to bring hurricane-force winds of up to 130 mph (209 kph) and as much as 2 feet (0.6 meter) of rain to the Tampa area starting early on Wednesday through Thursday evening.
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American Airlines Group Inc AAL.O said it has issued a travel alert for 20 airports in the western Caribbean and Florida. Sept 27 (Reuters) - Airlines canceled over a thousand U.S. flights on Tuesday and Wednesday and several Florida airports are halting operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. St. Pete-Clearwater Airport halted operations at 1 p.m.
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American Airlines Group Inc AAL.O said it has issued a travel alert for 20 airports in the western Caribbean and Florida. Sept 27 (Reuters) - Airlines canceled over a thousand U.S. flights on Tuesday and Wednesday and several Florida airports are halting operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. ET Tuesday, while Tampa Airport will halt operations at 5 p.m. and Orlando International Airport will cease operations at 10:30 a.m. Wednesday.
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American Airlines Group Inc AAL.O said it has issued a travel alert for 20 airports in the western Caribbean and Florida. Sept 27 (Reuters) - Airlines canceled over a thousand U.S. flights on Tuesday and Wednesday and several Florida airports are halting operations as they braced for impact from Hurricane Ian, which was set to make landfall in the state. ET Tuesday, while Tampa Airport will halt operations at 5 p.m. and Orlando International Airport will cease operations at 10:30 a.m. Wednesday.
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3234.0
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2022-09-27 00:00:00 UTC
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U.S. challenges American Airlines, JetBlue alliance at start of antitrust trial
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https://www.nasdaq.com/articles/u.s.-challenges-american-airlines-jetblue-alliance-at-start-of-antitrust-trial
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nan
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By Nate Raymond, David Shepardson and Diane Bartz
BOSTON, Sept 27 (Reuters) - The U.S. Justice Department on Tuesday urged a judge to force American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast that it said could make airline competition worse if JetBlue acquires Spirit Airlines.
At the start of a three-week trial in Boston, Justice Department attorney William Jones argued the "unprecedented" partnership destroys airline competition at the expense of travelers, who face hundreds of millions of dollars in additional costs annually.
He said their Northeast Alliance, unveiled in July 2020, is a "de facto merger" of their operations in Boston and New York that allowed them to coordinate flights and pool revenue in and out of Boston and New York's JFK, LaGuardia and Newark airports.
"The loss of the competition will cause prices to rise and quality to fall at those four airports," Williams said in his opening statement.
He said the deal eliminates incentives for American Airlines to reduce prices to lure customers from JetBlue, a "historically disruptive" rival with often better fares and give the two airlines more than 80% market share in flights from Boston to Washington and six other airport.
The companies' lawyers will deliver opening statements later on Tuesday in the case, which the Justice Department filed alongside six states last year.
They companies are expected to argue that the alliance is pro-competitive because it allows the companies to better compete with Delta Air Lines DAL.N and United Airlines UAL.O by allowing the companies to increase capacity. JetBlue, they will say, will remain a maverick.
The trial starts after a week in which U.S. judges ruled against the government in two antitrust fights: sugar and insurance.
American is the world's largest airline. Airline mergers in recent years have led to a highly consolidated industry, in which American, Delta, United and Southwest Airlines LUV.N control over 80% of domestic travel, the government argues.
Williams noted the industry will potentially consolidate more if JetBlue's proposed $3.8 billion acquisition of low-cost rival Spirit Airlines SAVE.N moves forward.
Should that merger -- which is subject to antitrust review -- move forward, American Airlines will be a beneficiary, Williams said, as it will now be able to "co-opt two disruptive airlines for the price of one."
JetBlue Chief Executive Robin Hayes is the first witness that the government plans to call. Hayes has said that no matter how this proceeding ends up, it will be good for JetBlue's effort to buy Spirit.
"We’ve had unprecedented amounts of consolidation, which the DOJ has approved and now it’s about how do we make sure the rest of us can continue to discipline the legacy carriers and create that competition," Hayes told Reuters earlier this year.
U.S. sues to stop American Airlines, JetBlue partnership
Judge rules in favor of U.S. Sugar purchase of Imperial, rejects antitrust concerns
Judge denies U.S. bid to stop UnitedHealth plan to buy Change
ANALYSIS-JetBlue, Spirit brace for tough regulatory review
(Reporting by Nate Raymond in Boston and Diane Bartz and David Shepardson in Washington; Editing by Marguerita Choy and Jonathan Oatis)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Nate Raymond, David Shepardson and Diane Bartz BOSTON, Sept 27 (Reuters) - The U.S. Justice Department on Tuesday urged a judge to force American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast that it said could make airline competition worse if JetBlue acquires Spirit Airlines. At the start of a three-week trial in Boston, Justice Department attorney William Jones argued the "unprecedented" partnership destroys airline competition at the expense of travelers, who face hundreds of millions of dollars in additional costs annually. "We’ve had unprecedented amounts of consolidation, which the DOJ has approved and now it’s about how do we make sure the rest of us can continue to discipline the legacy carriers and create that competition," Hayes told Reuters earlier this year.
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By Nate Raymond, David Shepardson and Diane Bartz BOSTON, Sept 27 (Reuters) - The U.S. Justice Department on Tuesday urged a judge to force American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast that it said could make airline competition worse if JetBlue acquires Spirit Airlines. At the start of a three-week trial in Boston, Justice Department attorney William Jones argued the "unprecedented" partnership destroys airline competition at the expense of travelers, who face hundreds of millions of dollars in additional costs annually. Should that merger -- which is subject to antitrust review -- move forward, American Airlines will be a beneficiary, Williams said, as it will now be able to "co-opt two disruptive airlines for the price of one."
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By Nate Raymond, David Shepardson and Diane Bartz BOSTON, Sept 27 (Reuters) - The U.S. Justice Department on Tuesday urged a judge to force American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast that it said could make airline competition worse if JetBlue acquires Spirit Airlines. He said the deal eliminates incentives for American Airlines to reduce prices to lure customers from JetBlue, a "historically disruptive" rival with often better fares and give the two airlines more than 80% market share in flights from Boston to Washington and six other airport. U.S. sues to stop American Airlines, JetBlue partnership Judge rules in favor of U.S. Sugar purchase of Imperial, rejects antitrust concerns Judge denies U.S. bid to stop UnitedHealth plan to buy Change ANALYSIS-JetBlue, Spirit brace for tough regulatory review (Reporting by Nate Raymond in Boston and Diane Bartz and David Shepardson in Washington; Editing by Marguerita Choy and Jonathan Oatis) ((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Nate Raymond, David Shepardson and Diane Bartz BOSTON, Sept 27 (Reuters) - The U.S. Justice Department on Tuesday urged a judge to force American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast that it said could make airline competition worse if JetBlue acquires Spirit Airlines. The companies' lawyers will deliver opening statements later on Tuesday in the case, which the Justice Department filed alongside six states last year. Should that merger -- which is subject to antitrust review -- move forward, American Airlines will be a beneficiary, Williams said, as it will now be able to "co-opt two disruptive airlines for the price of one."
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3235.0
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2022-09-27 00:00:00 UTC
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U.S. antitrust trial against American Airlines, JetBlue alliance kicks off
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AAL
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https://www.nasdaq.com/articles/u.s.-antitrust-trial-against-american-airlines-jetblue-alliance-kicks-off
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nan
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nan
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WASHINGTON, Sept 27 (Reuters) - The U.S. Justice Department goes to court Tuesday to ask a judge to order American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast in a high-stakes fight that follows painful court losses for the government.
The trial, expected to last about three weeks, takes place at a time when critics say prior administrations allowed the U.S. aviation industry to become too consolidated, leading to high prices and sometimes poor treatment of consumers.
The government will argue the partnership known as the Northeast Alliance, unveiled by American Airlines and JetBlue in July 2020, meant that the two companies effectively merged their operations in Boston and New York because they pool revenue on flights into and out of Boston Logan, John F. Kennedy, LaGuardia and Newark Liberty airports.
The alliance, they will argue, will defang JetBlue, a maverick carrier that often offers better fares than legacy carriers. They will also argue that the alliance gave the two airlines more than 80% market share in flights from Boston to Washington, DC and six other airports.
The companies are expected to argue that the alliance is pro-competitive because it allows the companies to better compete with Delta Air Lines DAL.N and United AirlinesUAL.O by allowing the companies to increase capacity. JetBlue, they will say, will remain a maverick.
American is the world's largest airline. It, Delta, United and Southwest Airlines LUV.N control over 80% of domestic travel, the government argues.
JetBlue Chief Executive Robin Hayes is the first witness that the government plans to call. Hayes has said that no matter how this proceeding ends up, it will be good for JetBlue's effort to buy Spirit SAVE.N.
"We've had a better effect on lowering fares than low-cost carriers," Hayes told Reuters earlier this year.
The trial starts after a week in which judges ruled against the government in two antitrust fights - sugar and insurance.
(Reporting by Diane Bartz and David Shepardson Editing by Marguerita Choy)
((Diane.Bartz@thomsonreuters.com; 1 202 898 8313;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 27 (Reuters) - The U.S. Justice Department goes to court Tuesday to ask a judge to order American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast in a high-stakes fight that follows painful court losses for the government. The trial, expected to last about three weeks, takes place at a time when critics say prior administrations allowed the U.S. aviation industry to become too consolidated, leading to high prices and sometimes poor treatment of consumers. The government will argue the partnership known as the Northeast Alliance, unveiled by American Airlines and JetBlue in July 2020, meant that the two companies effectively merged their operations in Boston and New York because they pool revenue on flights into and out of Boston Logan, John F. Kennedy, LaGuardia and Newark Liberty airports.
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WASHINGTON, Sept 27 (Reuters) - The U.S. Justice Department goes to court Tuesday to ask a judge to order American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast in a high-stakes fight that follows painful court losses for the government. The government will argue the partnership known as the Northeast Alliance, unveiled by American Airlines and JetBlue in July 2020, meant that the two companies effectively merged their operations in Boston and New York because they pool revenue on flights into and out of Boston Logan, John F. Kennedy, LaGuardia and Newark Liberty airports. The alliance, they will argue, will defang JetBlue, a maverick carrier that often offers better fares than legacy carriers.
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WASHINGTON, Sept 27 (Reuters) - The U.S. Justice Department goes to court Tuesday to ask a judge to order American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast in a high-stakes fight that follows painful court losses for the government. The government will argue the partnership known as the Northeast Alliance, unveiled by American Airlines and JetBlue in July 2020, meant that the two companies effectively merged their operations in Boston and New York because they pool revenue on flights into and out of Boston Logan, John F. Kennedy, LaGuardia and Newark Liberty airports. The alliance, they will argue, will defang JetBlue, a maverick carrier that often offers better fares than legacy carriers.
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WASHINGTON, Sept 27 (Reuters) - The U.S. Justice Department goes to court Tuesday to ask a judge to order American Airlines AAL.O and JetBlue Airways JBLU.O to scrap a partnership in the U.S. Northeast in a high-stakes fight that follows painful court losses for the government. The government will argue the partnership known as the Northeast Alliance, unveiled by American Airlines and JetBlue in July 2020, meant that the two companies effectively merged their operations in Boston and New York because they pool revenue on flights into and out of Boston Logan, John F. Kennedy, LaGuardia and Newark Liberty airports. The alliance, they will argue, will defang JetBlue, a maverick carrier that often offers better fares than legacy carriers.
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3236.0
|
2022-09-26 00:00:00 UTC
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U.S. to propose requiring new airline fee disclosure rules
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AAL
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https://www.nasdaq.com/articles/u.s.-to-propose-requiring-new-airline-fee-disclosure-rules-0
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department (USDOT) on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed.
The Biden administration has proposed a series of rules to boost airline consumer protections. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket," said U.S. Transportation Secretary Pete Buttigieg.
The administration notes in 2021 large airlines made $700 million just on cancellation and change fees. A major airline trade group did not immediately comment.
Last month, Buttigieg told Reuters that airline rules were in need of a "refresh."
The White House plans to tout the plan at Monday's third meeting of President Joe Biden's competition council that was created in 2021. A White House official said Biden in his remarks to the council will direct federal agencies "to train their focus on hidden fees that raise costs for consumers."
In July 2021, USDOT proposed rules to require passenger airlines to refund fees for bags that are significantly delayed and refunds for services like onboard Wi-Fi that do not work. The administration has still not finalized those rules.
Under existing U.S. rules, passengers are entitled to a fee refund if bags are lost, but not when delayed.
In 2011, the Transportation Department required disclosure of ancillary service fees by carriers and ticket agents on a page directly linked from their main websites.
(Reporting by David Shepardson; Editing by Catherine Evans and Andrea Ricci)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department (USDOT) on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed. A White House official said Biden in his remarks to the council will direct federal agencies "to train their focus on hidden fees that raise costs for consumers." In 2011, the Transportation Department required disclosure of ancillary service fees by carriers and ticket agents on a page directly linked from their main websites.
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By David Shepardson WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department (USDOT) on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed. The Biden administration has proposed a series of rules to boost airline consumer protections. In July 2021, USDOT proposed rules to require passenger airlines to refund fees for bags that are significantly delayed and refunds for services like onboard Wi-Fi that do not work.
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By David Shepardson WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department (USDOT) on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed. The Biden administration has proposed a series of rules to boost airline consumer protections. In July 2021, USDOT proposed rules to require passenger airlines to refund fees for bags that are significantly delayed and refunds for services like onboard Wi-Fi that do not work.
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A White House official said Biden in his remarks to the council will direct federal agencies "to train their focus on hidden fees that raise costs for consumers." In July 2021, USDOT proposed rules to require passenger airlines to refund fees for bags that are significantly delayed and refunds for services like onboard Wi-Fi that do not work. The administration has still not finalized those rules.
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3237.0
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2022-09-26 00:00:00 UTC
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U.S. to propose requiring new airline fee disclosure rules
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AAL
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https://www.nasdaq.com/articles/u.s.-to-propose-requiring-new-airline-fee-disclosure-rules
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nan
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nan
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WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and to sit with young children the first time an airfare is displayed.
The Biden administration has proposed a series of rules to boost airline consumer protections. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket,” said U.S. Transportation Secretary Pete Buttigieg.
(Reporting by David Shepardson; Editing by Catherine Evans)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and to sit with young children the first time an airfare is displayed. The Biden administration has proposed a series of rules to boost airline consumer protections. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket,” said U.S. Transportation Secretary Pete Buttigieg.
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WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and to sit with young children the first time an airfare is displayed. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket,” said U.S. Transportation Secretary Pete Buttigieg. (Reporting by David Shepardson; Editing by Catherine Evans) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and to sit with young children the first time an airfare is displayed. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket,” said U.S. Transportation Secretary Pete Buttigieg. (Reporting by David Shepardson; Editing by Catherine Evans) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 26 (Reuters) - The U.S. Transportation Department on Monday is proposing requiring airlines and travel search websites to disclose fees for baggage, ticket changes and to sit with young children the first time an airfare is displayed. The Biden administration has proposed a series of rules to boost airline consumer protections. "Airline passengers deserve to know the full, true cost of their flights before they buy a ticket,” said U.S. Transportation Secretary Pete Buttigieg.
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3238.0
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2022-09-23 00:00:00 UTC
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United Airlines (UAL) to Resume US Flights to Cuba by Year End
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AAL
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https://www.nasdaq.com/articles/united-airlines-ual-to-resume-us-flights-to-cuba-by-year-end
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nan
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nan
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Per a Reuters report, United Airlines Holdings, Inc. UAL is looking forward to restarting flights to Cuba toward the end of 2022. These flights are the ones that got suspended in March 2020 due to the COVID-19 pandemic.
United Airlines has been actively engaged for months to ease and fasten the flight resumption services. Considering the hurdles it faces in its ongoing processes, the airline company stated that it cannot restart flights by Oct 31, the deadline given by the U.S. Transportation Department (“USDOT”).
The company has requested USDOT for additional 30 days to complete the remaining required works before flight resumption. These include the re-negotiation of contracts (which have lapsed) with service providers and the construction of infrastructure in Terminal 3 at Havana’s airport.
Earlier, seven United Airlines flights used to fly from its Houston and Newark hubs to Havana every week.
We remind investors that the Biden administration recently approved the expansion of U.S. flights to Havana. As a result, apart from United Airlines, other airline companies planning to resume flights include 13 weekly American Airlines AAL departures from Miami and a weekly JetBlue Airways JBLU departure from Fort Lauderdale, FL. These come over and above the six daily American Airlines flights and three JetBlue flights on weekdays to Havana from the Florida airports. Notably, USDOT has lifted the series of flight restrictions on Cuba.
The resumption of flights looks encouraging for United Airlines, which carries a Zacks Rank #3 (Hold). The positivity surrounding the stock is evident from the upward movement of the Zacks Consensus Estimate for third-quarter earnings, which has improved 22.9% over the past 90 days.
Stock to Consider
A better-ranked stock from the broader Zacks Transportation sector is GATX Corporation (GATX), which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
GATX Corporation has an expected earnings growth rate of 17.8% for the current year. GATX delivered a trailing four-quarter earnings surprise of 28.9%, on average.
The Zacks Consensus Estimate for GATX’s current-year earnings has improved 2.1% over the past 90 days. Shares of GATX have gained 12.3% over the past year.
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United Airlines Holdings Inc (UAL): Free Stock Analysis Report
JetBlue Airways Corporation (JBLU): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
GATX Corporation (GATX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As a result, apart from United Airlines, other airline companies planning to resume flights include 13 weekly American Airlines AAL departures from Miami and a weekly JetBlue Airways JBLU departure from Fort Lauderdale, FL. American Airlines Group Inc. (AAL): Free Stock Analysis Report Considering the hurdles it faces in its ongoing processes, the airline company stated that it cannot restart flights by Oct 31, the deadline given by the U.S. Transportation Department (“USDOT”).
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As a result, apart from United Airlines, other airline companies planning to resume flights include 13 weekly American Airlines AAL departures from Miami and a weekly JetBlue Airways JBLU departure from Fort Lauderdale, FL. American Airlines Group Inc. (AAL): Free Stock Analysis Report United Airlines Holdings Inc (UAL): Free Stock Analysis Report
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As a result, apart from United Airlines, other airline companies planning to resume flights include 13 weekly American Airlines AAL departures from Miami and a weekly JetBlue Airways JBLU departure from Fort Lauderdale, FL. American Airlines Group Inc. (AAL): Free Stock Analysis Report Stock to Consider A better-ranked stock from the broader Zacks Transportation sector is GATX Corporation (GATX), which carries a Zacks Rank #2 (Buy).
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As a result, apart from United Airlines, other airline companies planning to resume flights include 13 weekly American Airlines AAL departures from Miami and a weekly JetBlue Airways JBLU departure from Fort Lauderdale, FL. American Airlines Group Inc. (AAL): Free Stock Analysis Report These come over and above the six daily American Airlines flights and three JetBlue flights on weekdays to Havana from the Florida airports.
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3239.0
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2022-09-23 00:00:00 UTC
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South Africa mine dam collapse highlights patchy regulation
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AAL
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https://www.nasdaq.com/articles/south-africa-mine-dam-collapse-highlights-patchy-regulation
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nan
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nan
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By Nelson Banya
Sept 23 (Reuters) - The collapse of a tailings dam in South Africa earlier this month has put the spotlight on the need for binding global regulations of facilities used to store mining waste, investors and industry leaders said.
A dam holding liquid mine waste from a tailings reprocessing operation near the historic Jagersfontein diamond mine in Free State province burst on Sept. 11, releasing a flood of mine slurry that swept away houses and cars, killed one person and injured scores.
Two people remain unaccounted for after the dam collapsed, according to the Free State provincial government.
The disaster has raised questions about who should be responsible for tailings dams oversight in South Africa and across the world.
The Jagersfontein dam burst follows the brumadinho tailings dam collapse in Brazil nearly four years ago, which killed hundreds when a Vale SA VALE3.SA-owned dam collapsed.
In the aftermath of that tragedy, the Global Industry Standard on Tailings Management was launched in 2020, aiming to set binding standards for all tailings dams to follow.
But the standards, which are backed by the United Nations and several prominent pension funds, have yet to be adopted by many of the world's mining companies and host countries.
The International Council on Mining and Metals (ICMM), a mining industry group, that includes Rio Tinto Ltd RIO.AX, BHP BHP.AX and other major international mining companies, said the global standard could reduce the impact of fragmented or inadequate regulation.
"South Africa is not unique in the sense of having a patchwork of different regulations and laws that govern tailings management," ICMM Chief Executive Rohitesh Dhawan told Reuters in an interview following the Jagersfontein disaster.
South Africa's government, mining industry and experts are still in the process of updating the country's tailings code to align with the global standard, the Minerals Council of South Africa said. Industry experts say this would provide clearer rules for managing tailings, including facilities such as Jagersfontein.
The experts say, for example, that the global standards require a clearer responsibility and accountability structure than the current mine residue code in South Africa.
The South African government did not respond to a request for comment.
Dhawan said all 26 ICMM member companies should be complying with the global standard by an August 2023 target date. He said ICMM members are committed to meeting the deadline, despite a shortage of qualified auditors needed to provide independent third-party validation of companies' adherence to the standard.
Many of the world's mining companies, though, are not ICMM members.
Investors should exert more pressure as they have a duty to ensure mining does not negatively impact communities, said Reverend Andrew Harper, chief responsibility officer at the Methodist Church's Epworth Investment Management, which manages 1.1 billion pounds ($1.24 billion) of assets and holds shares in Anglo American Plc AAL.L and Rio Tinto.
"We ask these companies to go and find this material. We demand it, and then we ask citizens to go and work in some of the toughest conditions and just leave them with a legacy of risk and anxiety," Harper told Reuters.
"How are we not moved that people are paying the price of their homes and their lives to feed our appetite?"
($1 = 0.8882 pounds)
(Reporting by Nelson Banya, additional reporting by Helen Reid; editing by Ernest Scheyder and Jane Merriman)
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors should exert more pressure as they have a duty to ensure mining does not negatively impact communities, said Reverend Andrew Harper, chief responsibility officer at the Methodist Church's Epworth Investment Management, which manages 1.1 billion pounds ($1.24 billion) of assets and holds shares in Anglo American Plc AAL.L and Rio Tinto. By Nelson Banya Sept 23 (Reuters) - The collapse of a tailings dam in South Africa earlier this month has put the spotlight on the need for binding global regulations of facilities used to store mining waste, investors and industry leaders said. "South Africa is not unique in the sense of having a patchwork of different regulations and laws that govern tailings management," ICMM Chief Executive Rohitesh Dhawan told Reuters in an interview following the Jagersfontein disaster.
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Investors should exert more pressure as they have a duty to ensure mining does not negatively impact communities, said Reverend Andrew Harper, chief responsibility officer at the Methodist Church's Epworth Investment Management, which manages 1.1 billion pounds ($1.24 billion) of assets and holds shares in Anglo American Plc AAL.L and Rio Tinto. The International Council on Mining and Metals (ICMM), a mining industry group, that includes Rio Tinto Ltd RIO.AX, BHP BHP.AX and other major international mining companies, said the global standard could reduce the impact of fragmented or inadequate regulation. "South Africa is not unique in the sense of having a patchwork of different regulations and laws that govern tailings management," ICMM Chief Executive Rohitesh Dhawan told Reuters in an interview following the Jagersfontein disaster.
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Investors should exert more pressure as they have a duty to ensure mining does not negatively impact communities, said Reverend Andrew Harper, chief responsibility officer at the Methodist Church's Epworth Investment Management, which manages 1.1 billion pounds ($1.24 billion) of assets and holds shares in Anglo American Plc AAL.L and Rio Tinto. By Nelson Banya Sept 23 (Reuters) - The collapse of a tailings dam in South Africa earlier this month has put the spotlight on the need for binding global regulations of facilities used to store mining waste, investors and industry leaders said. The International Council on Mining and Metals (ICMM), a mining industry group, that includes Rio Tinto Ltd RIO.AX, BHP BHP.AX and other major international mining companies, said the global standard could reduce the impact of fragmented or inadequate regulation.
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Investors should exert more pressure as they have a duty to ensure mining does not negatively impact communities, said Reverend Andrew Harper, chief responsibility officer at the Methodist Church's Epworth Investment Management, which manages 1.1 billion pounds ($1.24 billion) of assets and holds shares in Anglo American Plc AAL.L and Rio Tinto. "South Africa is not unique in the sense of having a patchwork of different regulations and laws that govern tailings management," ICMM Chief Executive Rohitesh Dhawan told Reuters in an interview following the Jagersfontein disaster. South Africa's government, mining industry and experts are still in the process of updating the country's tailings code to align with the global standard, the Minerals Council of South Africa said.
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3240.0
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2022-09-23 00:00:00 UTC
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Why Airline Stocks Are Falling Again Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-falling-again-today
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nan
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nan
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What happened
Investor fears about the state of the economy continued to weigh on Wall Street on Friday, pushing the Dow Jones Industrial Average to a 2022 low. Airline stocks continue to underperform the overall market, with shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Frontier Group Holdings (NASDAQ: ULCC) all down as much as 5%, and stocks including Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) down more than 3% apiece.
So what
The Federal Reserve pushed rates higher again this week, and it appears Chairman Jerome Powell's message to markets about the group's commitment to getting inflation under control is being received. Stocks have been under pressure due to fears that the Fed's fight will push the U.S. economy into a recession.
For airline stocks, the threat of a recession is just the latest in a steady stream of challenges facing the industry. The pandemic brought global travel to halt, depressing airline revenues and forcing the companies to scramble to cut costs and raise capital. The industry saw demand recover in 2022, boosting revenue, but higher labor and fuel costs, coupled with a shortage of qualified flight crews, has limited the impact of those higher-revenue numbers on the bottom line.
Historically, airlines have not fared well in a recession. If households and businesses are pinched, they are going to prioritize necessary spending, and forgo more discretionary purchases. In most instances airfare is a discretionary item, and an expensive one at that. Should the economy get worse from here, it stands to reason that airlines will see a negative impact on demand.
JetBlue has particular challenges right now. The airline is attempting to acquire rival Spirit Airlines (NYSE: SAVE), an acquisition that was billed as a platform for growth and which would make much less sense if we are entering a prolonged downturn. JetBlue is also dealing with employee unionization efforts, with the International Association of Machinists and Aerospace Workers announcing plans to file an application for a union vote covering the airline's 3,000 ground workers.
Now what
How bad is it for airline stocks right now? The U.S. Global Jets ETF, a popular exchange-traded fund tracking the airline industry, has lost nearly 15% of its value in the last two weeks. A number of these airline stocks are today trading below where they traded in late March 2020, when investors were worried COVID-19 would lead to a wave of bankruptcies.
The operating environment clearly isn't as bad now as it was in 2020, but the airlines also have taken on a lot more debt in the last few years thanks to the pandemic. At best, the current economic headwinds appear likely to further delay the industry's post-pandemic recovery. At worst, the airlines could soon be scrambling once again to cut costs and raise cash to weather a downturn.
For risk-tolerant investors, there are likely opportunities at these levels. Delta and Southwest are top operators that are good bets to navigate the current difficulties and emerge from the storm ahead of the industry. But even the most bullish outlook for these stocks requires a multi-year view, and as we have seen over the past few years, there is a lot that can go wrong.
Even if there is value to be found in the airline sector right now, there's no real reason for investors to rush in and buy up potential bargains.
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Lou Whiteman has positions in Delta Air Lines. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airline stocks continue to underperform the overall market, with shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Frontier Group Holdings (NASDAQ: ULCC) all down as much as 5%, and stocks including Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) down more than 3% apiece. What happened Investor fears about the state of the economy continued to weigh on Wall Street on Friday, pushing the Dow Jones Industrial Average to a 2022 low. So what The Federal Reserve pushed rates higher again this week, and it appears Chairman Jerome Powell's message to markets about the group's commitment to getting inflation under control is being received.
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Airline stocks continue to underperform the overall market, with shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Frontier Group Holdings (NASDAQ: ULCC) all down as much as 5%, and stocks including Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) down more than 3% apiece. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
|
Airline stocks continue to underperform the overall market, with shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Frontier Group Holdings (NASDAQ: ULCC) all down as much as 5%, and stocks including Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) down more than 3% apiece. For airline stocks, the threat of a recession is just the latest in a steady stream of challenges facing the industry. The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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Airline stocks continue to underperform the overall market, with shares of United Airlines Holdings (NASDAQ: UAL), American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), JetBlue Airways (NASDAQ: JBLU), and Frontier Group Holdings (NASDAQ: ULCC) all down as much as 5%, and stocks including Southwest Airlines (NYSE: LUV) and Alaska Air Group (NYSE: ALK) down more than 3% apiece. * They just revealed what they believe are the ten best stocks for investors to buy right now... and JetBlue Airways wasn't one of them! The Motley Fool recommends Alaska Air Group, Delta Air Lines, JetBlue Airways, and Southwest Airlines.
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3241.0
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2022-09-22 00:00:00 UTC
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US STOCKS-Nasdaq, S&P end down for third day as growth concerns weigh on tech
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AAL
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https://www.nasdaq.com/articles/us-stocks-nasdaq-sp-end-down-for-third-day-as-growth-concerns-weigh-on-tech
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nan
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nan
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By David French
Sept 22 (Reuters) - The Nasdaq and S&P 500 closed lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks including technology companies.
The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes.
The U.S. central bank's projections for economic growth released on Wednesday were also eye-catching, with growth of just 0.2% this year, rising to 1.2% for 2023.
Jitters were already present in the market after a number of companies - most recently FedEx Corp FDX.N and Ford Motor Co F.N - issued dire outlooks for earnings.
As of Friday, the S&P 500's estimated earnings growth for the third quarter is at 5%, according to Refinitiv data. Excluding the energy sector, the growth rate is at -1.7%.
The S&P 500's forward price-to-earnings ratio, a common metric for valuing stocks, is at 16.8 times earnings - far below the nearly 22 times forward P/E that stocks commanded at the start of the year.
Of the 11 major S&P sectors, consumer discretionary .SPLRCD and financial .SPSY stocks were among the biggest decliners.
Shares of megacap technology and growth companies such as Amazon.com Inc AMZN.O, Tesla Inc TSLA.O and Nvidia Corp NVDA.O fell as benchmark U.S. Treasury yields hit an 11-year high. US/
Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
The slump in the S&P 500 tech sector .SPLRCT has noticeably outpaced the decline in the benchmark index.
"If we continue to have sticky inflation, and if (Fed Chair Jerome) Powell sticks to his guns as he indicates, I think we enter recession and we see significant drawdown on earnings expectations," said Mike Mullaney, director of global markets at Boston Partners.
"If this happens, I have high conviction under those conditions that we break 3,636," he added, referring to the S&P 500's mid-June low, its weakest point of the year.
According to preliminary data, the S&P 500 .SPX lost 32.08 points, or 0.87%, to end at 3,757.06 points, while the Nasdaq Composite .IXIC lost 156.15 points, or 1.39%, to 11,064.04. The Dow Jones Industrial Average .DJI fell 115.39 points, or 0.38%, to 30,068.39.
Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with JetBlue Airways Corp JBLU.O, United Airlines UAL.O and American Airlines AAL.O all falling for the third straight day.
Darden Restaurants Inc DRI.N slid after the Olive Garden parent reported downbeat first-quarter sales.
S&P 500 Forward PEhttps://tmsnrt.rs/3dxGlqX
(Reporting by Sruthi Shankar, Medha Singh, Devik Jain and Ankika Biswas in Bengaluru and David French in New York; Editing by Shounak Dasgupta, Anil D'Silva and Deepa Babington)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with JetBlue Airways Corp JBLU.O, United Airlines UAL.O and American Airlines AAL.O all falling for the third straight day. By David French Sept 22 (Reuters) - The Nasdaq and S&P 500 closed lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks including technology companies. US/ Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with JetBlue Airways Corp JBLU.O, United Airlines UAL.O and American Airlines AAL.O all falling for the third straight day. By David French Sept 22 (Reuters) - The Nasdaq and S&P 500 closed lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks including technology companies. US/ Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with JetBlue Airways Corp JBLU.O, United Airlines UAL.O and American Airlines AAL.O all falling for the third straight day. By David French Sept 22 (Reuters) - The Nasdaq and S&P 500 closed lower on Thursday, falling for a third straight session as investors reacted to the Federal Reserve's latest aggressive move to rein in inflation by selling growth stocks including technology companies. The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with JetBlue Airways Corp JBLU.O, United Airlines UAL.O and American Airlines AAL.O all falling for the third straight day. The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes. US/ Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
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3242.0
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2022-09-22 00:00:00 UTC
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Notable Thursday Option Activity: TRUP, IBM, AAL
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AAL
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https://www.nasdaq.com/articles/notable-thursday-option-activity%3A-trup-ibm-aal
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nan
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nan
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Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Trupanion Inc (Symbol: TRUP), where a total volume of 3,328 contracts has been traded thus far today, a contract volume which is representative of approximately 332,800 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 75.1% of TRUP's average daily trading volume over the past month, of 443,035 shares. Especially high volume was seen for the $60 strike put option expiring October 21, 2022, with 846 contracts trading so far today, representing approximately 84,600 underlying shares of TRUP. Below is a chart showing TRUP's trailing twelve month trading history, with the $60 strike highlighted in orange:
International Business Machines Corp (Symbol: IBM) options are showing a volume of 27,300 contracts thus far today. That number of contracts represents approximately 2.7 million underlying shares, working out to a sizeable 73.6% of IBM's average daily trading volume over the past month, of 3.7 million shares. Especially high volume was seen for the $140 strike call option expiring October 21, 2022, with 4,560 contracts trading so far today, representing approximately 456,000 underlying shares of IBM. Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 201,669 contracts, representing approximately 20.2 million underlying shares or approximately 73.6% of AAL's average daily trading volume over the past month, of 27.4 million shares. Particularly high volume was seen for the $14 strike call option expiring September 30, 2022, with 15,653 contracts trading so far today, representing approximately 1.6 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14 strike highlighted in orange:
For the various different available expirations for TRUP options, IBM options, or AAL options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $14 strike call option expiring September 30, 2022, with 15,653 contracts trading so far today, representing approximately 1.6 million underlying shares of AAL. Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 201,669 contracts, representing approximately 20.2 million underlying shares or approximately 73.6% of AAL's average daily trading volume over the past month, of 27.4 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $14 strike highlighted in orange: For the various different available expirations for TRUP options, IBM options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 201,669 contracts, representing approximately 20.2 million underlying shares or approximately 73.6% of AAL's average daily trading volume over the past month, of 27.4 million shares. Particularly high volume was seen for the $14 strike call option expiring September 30, 2022, with 15,653 contracts trading so far today, representing approximately 1.6 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14 strike highlighted in orange: For the various different available expirations for TRUP options, IBM options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 201,669 contracts, representing approximately 20.2 million underlying shares or approximately 73.6% of AAL's average daily trading volume over the past month, of 27.4 million shares. Particularly high volume was seen for the $14 strike call option expiring September 30, 2022, with 15,653 contracts trading so far today, representing approximately 1.6 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $14 strike highlighted in orange: For the various different available expirations for TRUP options, IBM options, or AAL options, visit StockOptionsChannel.com.
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Below is a chart showing IBM's trailing twelve month trading history, with the $140 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 201,669 contracts, representing approximately 20.2 million underlying shares or approximately 73.6% of AAL's average daily trading volume over the past month, of 27.4 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $14 strike highlighted in orange: For the various different available expirations for TRUP options, IBM options, or AAL options, visit StockOptionsChannel.com. Particularly high volume was seen for the $14 strike call option expiring September 30, 2022, with 15,653 contracts trading so far today, representing approximately 1.6 million underlying shares of AAL.
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3243.0
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2022-09-22 00:00:00 UTC
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U.S. flight cancellations fell in July but complaints remained high
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AAL
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https://www.nasdaq.com/articles/u.s.-flight-cancellations-fell-in-july-but-complaints-remained-high
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, although air travel service complaints rose 16.5%, the U.S. Transportation Department said on Thursday.
The Transportation Department has been pressing airlines to improve service and boost staffing as summer travel woes snarled tens of thousands of flights. Airlines say Federal Aviation Administration (FAA) air traffic control staffing has been a significant factor in cancellations and delays.
The Transportation Department said complaints in July were more than 260% above pre-pandemic levels.
"The difference between a normal level of cancellation -- it is never going to be zero with weather and stuff -- a normal level is between 1 and 2%," Transportation Secretary Pete Buttigieg said last week. "If it's 3% we feel it, it's quite bad. If it is 4% that's when you start seeing words like meltdown or chaos or hell in headlines,"
The union representing federal air traffic controllers says the FAA needs to do a better job of ensuring adequate staffing.
The National Air Traffic Controllers Association said the FAA had over 15,000 total controllers in 2011, including over 11,750 fully certified controllers, but said in July that in 2022 "there were more than 1,000 fewer (certified controllers) and 1,500 fewer total controllers on-board." The FAA says it is on track to hire 1,000 controllers this year.
This month, Democratic U.S. Senator Jeanne Shaheen asked the FAA to report additional air traffic control staffing data to Congress, acknowledging that airline staffing issues were impacting flights but saying that "understaffing at critical ATC facilities has also played a role."
Last week, United Airlines UAL.O Chief Executive Scott Kirby said air traffic control shortages were "by far ... the number one issue" impacting traffic.
"When you have air traffic control close a center down or close a region it leads to hundreds of delays and cancellations," Kirby said. "When we just point the finger at airlines, when that's not the biggest issue or the second biggest or the third biggest or the fourth biggest, we can't fix it."
Kirby said the aviation industry must push for funding to ensure FAA has more staff.
The FAA in response pointed to data that showed air carrier delays outpaced any other factor in July. "Airlines should focus on restoring customers’ faith by being transparent about the cause of interruptions and by delivering what they promise," the FAA said.
(Reporting by David Shepardson; Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, although air travel service complaints rose 16.5%, the U.S. Transportation Department said on Thursday. The Transportation Department has been pressing airlines to improve service and boost staffing as summer travel woes snarled tens of thousands of flights. If it is 4% that's when you start seeing words like meltdown or chaos or hell in headlines," The union representing federal air traffic controllers says the FAA needs to do a better job of ensuring adequate staffing.
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Airlines say Federal Aviation Administration (FAA) air traffic control staffing has been a significant factor in cancellations and delays. The National Air Traffic Controllers Association said the FAA had over 15,000 total controllers in 2011, including over 11,750 fully certified controllers, but said in July that in 2022 "there were more than 1,000 fewer (certified controllers) and 1,500 fewer total controllers on-board." Senator Jeanne Shaheen asked the FAA to report additional air traffic control staffing data to Congress, acknowledging that airline staffing issues were impacting flights but saying that "understaffing at critical ATC facilities has also played a role."
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Airlines say Federal Aviation Administration (FAA) air traffic control staffing has been a significant factor in cancellations and delays. The National Air Traffic Controllers Association said the FAA had over 15,000 total controllers in 2011, including over 11,750 fully certified controllers, but said in July that in 2022 "there were more than 1,000 fewer (certified controllers) and 1,500 fewer total controllers on-board." Senator Jeanne Shaheen asked the FAA to report additional air traffic control staffing data to Congress, acknowledging that airline staffing issues were impacting flights but saying that "understaffing at critical ATC facilities has also played a role."
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Airlines say Federal Aviation Administration (FAA) air traffic control staffing has been a significant factor in cancellations and delays. The Transportation Department said complaints in July were more than 260% above pre-pandemic levels. Last week, United Airlines UAL.O Chief Executive Scott Kirby said air traffic control shortages were "by far ... the number one issue" impacting traffic.
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3244.0
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2022-09-22 00:00:00 UTC
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US STOCKS-Wall Street drops as mounting growth concerns weigh on tech, financials
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AAL
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https://www.nasdaq.com/articles/us-stocks-wall-street-drops-as-mounting-growth-concerns-weigh-on-tech-financials
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nan
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nan
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By Devik Jain and David French
Sept 22 (Reuters) - Wall Street's main indexes were on course to post their third straight day of declines on Thursday, as traders sold financial and technology stocks on fears the Federal Reserve's aggressive approach to rein in inflation could trigger a recession.
The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes.
The U.S. central bank's projections for economic growth released on Wednesday were also eye-catching, with growth of just 0.2% this year, rising to 1.2% for 2023.
"Going forward, the market is going to be hypersensitive to any sort of Fed comments and data coming up. I would expect more volatility as the market digests them, but at the same time we're cautiously optimistic," said Brian Klimke, director ofinvestment researchat Cetera Financial Group.
"Valuations are a lot better than they were at the start of the year, earnings estimates have been lowered that makes it easier to beat. So, a lot of the bad news is factored in right now ... we are creating a market where there are potential upside surprises now."
As of Friday, the S&P 500's estimated earnings growth for the third quarter is at 5%, according to Refinitiv data. Excluding the energy sector, the growth rate is at -1.7%.
The S&P 500's forward price-to-earnings ratio, a common metric for valuing stocks, is at 16.8 times earnings - far below the nearly 22 times forward P/E that stocks commanded at the start of the year.
Seven of the 11 major S&P sectors declined, led by a drop of 1.9% in consumer discretionary .SPLRCD and 1.3% in financial .SPSY stocks.
Shares of megacap technology and growth companies such as Apple Inc AAPL.O, Amazon.com Inc AMZN.O, Tesla Inc TSLA.O and Nvidia Corp NVDA.O fell between 0.7% and 4.9% as benchmark U.S. Treasury yields hit an 11-year high. US/
Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
The S&P 500 tech sector .SPLRCT has slumped 27.8% so far this year, compared with a 20.9% decline in the benchmark index.
"I definitely see the market testing the June lows and there is an increased likelihood that new lows will be set as indicated by the rise in the two-year yield, and the widening of the inversion of the two-year and 10-year yield curve," said Sam Stovall, chief investment strategist at CFRA Research.
The S&P 500 is now around 3% away from its mid-June low, its weakest point of the year.
By 2:01 p.m. ET, the Dow Jones Industrial Average .DJI fell 26.8 points, or 0.09%, to 30,156.98, the S&P 500 .SPX lost 22.93 points, or 0.61%, to 3,767 and the Nasdaq Composite .IXIC dropped 136.49 points, or 1.22%, to 11,083.70.
Recent dismal outlooks from companies including FedEx Corp FDX.N and Ford Motor Co F.N have also raised concerns about the health of corporate America.
Darden Restaurants Inc DRI.N slid 3.9% after the Olive Garden parent reported downbeat first-quarter sales.
Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with United Airlines UAL.O and American Airlines AAL.O falling 4.9% and 4.3% respectively.
JetBlue Airways Corp JBLU.O was down 6.2%, trading at levels last seen in March 2020.
S&P 500 Forward PEhttps://tmsnrt.rs/3dxGlqX
(Reporting by Sruthi Shankar, Medha Singh, Devik Jain and Ankika Biswas in Bengaluru and David French in New York; Editing by Shounak Dasgupta, Anil D'Silva and Deepa Babington)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with United Airlines UAL.O and American Airlines AAL.O falling 4.9% and 4.3% respectively. By Devik Jain and David French Sept 22 (Reuters) - Wall Street's main indexes were on course to post their third straight day of declines on Thursday, as traders sold financial and technology stocks on fears the Federal Reserve's aggressive approach to rein in inflation could trigger a recession. I would expect more volatility as the market digests them, but at the same time we're cautiously optimistic," said Brian Klimke, director ofinvestment researchat Cetera Financial Group.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with United Airlines UAL.O and American Airlines AAL.O falling 4.9% and 4.3% respectively. By Devik Jain and David French Sept 22 (Reuters) - Wall Street's main indexes were on course to post their third straight day of declines on Thursday, as traders sold financial and technology stocks on fears the Federal Reserve's aggressive approach to rein in inflation could trigger a recession. As of Friday, the S&P 500's estimated earnings growth for the third quarter is at 5%, according to Refinitiv data.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with United Airlines UAL.O and American Airlines AAL.O falling 4.9% and 4.3% respectively. The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes. The S&P 500's forward price-to-earnings ratio, a common metric for valuing stocks, is at 16.8 times earnings - far below the nearly 22 times forward P/E that stocks commanded at the start of the year.
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Major U.S. airlines - which have enjoyed a rebound amid increased travel as pandemic restrictions end - were also down, with United Airlines UAL.O and American Airlines AAL.O falling 4.9% and 4.3% respectively. The Fed lifted rates by an expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates than markets had priced in, fuelling fears of further volatility in stock and bond trading in a year that has already seen bear markets in both asset classes. US/ Rising yields weigh particularly on valuations of companies in the technology sector, which have high expected future earnings and form a significant part of the market-cap weighted indexes such as the S&P 500.
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3245.0
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2022-09-22 00:00:00 UTC
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U.S. flight cancellations fell in July as complaints remain high -- USDOT
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AAL
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https://www.nasdaq.com/articles/u.s.-flight-cancellations-fell-in-july-as-complaints-remain-high-usdot
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nan
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nan
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WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, even as air travel service complaints rose 16.5%, the U.S. Transportation Department (USDOT) said Thursday.
The Transportation Department has been pressing airlines to improve service as summer travel woes snarled tens of thousands of flights, while airlines say Federal Aviation Administration air traffic control staffing has been a significant factor in cancellations and delays. USDOT said complaints in July were more than 260% above pre-pandemic levels.
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, even as air travel service complaints rose 16.5%, the U.S. Transportation Department (USDOT) said Thursday. The Transportation Department has been pressing airlines to improve service as summer travel woes snarled tens of thousands of flights, while airlines say Federal Aviation Administration air traffic control staffing has been a significant factor in cancellations and delays. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, even as air travel service complaints rose 16.5%, the U.S. Transportation Department (USDOT) said Thursday. The Transportation Department has been pressing airlines to improve service as summer travel woes snarled tens of thousands of flights, while airlines say Federal Aviation Administration air traffic control staffing has been a significant factor in cancellations and delays. USDOT said complaints in July were more than 260% above pre-pandemic levels.
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WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, even as air travel service complaints rose 16.5%, the U.S. Transportation Department (USDOT) said Thursday. The Transportation Department has been pressing airlines to improve service as summer travel woes snarled tens of thousands of flights, while airlines say Federal Aviation Administration air traffic control staffing has been a significant factor in cancellations and delays. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 22 (Reuters) - U.S. passenger airline flight cancellations in July fell to 1.8% from 3.1% in June, even as air travel service complaints rose 16.5%, the U.S. Transportation Department (USDOT) said Thursday. The Transportation Department has been pressing airlines to improve service as summer travel woes snarled tens of thousands of flights, while airlines say Federal Aviation Administration air traffic control staffing has been a significant factor in cancellations and delays. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3246.0
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2022-09-22 00:00:00 UTC
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London stocks fall as BoE's 50 bps rate hike fuels slowdown fears
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AAL
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https://www.nasdaq.com/articles/london-stocks-fall-as-boes-50-bps-rate-hike-fuels-slowdown-fears
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nan
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nan
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By Bansari Mayur Kamdar
Sept 22 (Reuters) - UK shares fell on Thursday after an expected 50 basis point interest rate hike by the Bank of England in a bid to tame inflation fueled fears of an economic slowdown.
The blue-chip FTSE 100 index .FTSE declined 0.5% by 11:32 GMT after briefly paring some losses following UK central bank's rate decision.
The Bank of England raised its key interest rate to 2.25% from 1.75% and said it would continue to "respond forcefully, as necessary" to inflation, despite the economy entering recession.
"The Bank of England delivered in line with expectations," said Sanjay Raja, senior UK economist at Deutsche Bank Research.
"The door is now open for a bigger hike in November, with the MPC explicitly acknowledging that should their updated outlook points to more persistent inflationary pressures, including from stronger demand, the Bank stands ready to respond forcefully."
The BoE estimates Britain's economy will shrink 0.1% in the third quarter - partly due to the extra public holiday for Queen Elizabeth's funeral - which, combined with a fall in output in the second quarter, meets the definition of a technical recession.
Healthcare stocks like AstraZeneca AZN.L and GSK GSK.L declined more than 1% each, weighing on the benchmark FTSE 100.
Investor confidence in British assets sits on the edge of a precipice ahead of new finance minister Kwasi Kwarteng's fiscal update on Friday, according to a Reuters poll earlier this week.
"The MPC expects the fiscal messages to be announced by the government tomorrow to be inflationary over the medium term and it is firing a warning shot that if too much is given away, rates will simply be raised higher," said Stuart Cole, head macro economist at Equiti Capital.
Capping some of the losses on the commodity-heavy FTSE 100, mining stocks such as Glencore GLEN.L, Rio Tinto RIO.L and Anglo American AAL.L rose between 1.1% and 1.5% as metal prices gained on a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. MET/L
The domestically focussed FTSE 250 .FTMC declined 1.3% underperforming its export-heavy peer.
Travel .FTNMX405010 and real estate stocks .FTNMX351020 dropped 2.5% and 3.0%, weighing on the mid-cap index.
JD Sports JD.L fell 5.5% after UK's biggest sportswear retailer reported lower profit for the first half.
Bank of England under pressurehttps://tmsnrt.rs/3S2OsLp
(Reporting by Bansari Mayur Kamdar in Bengaluru; editing by Uttaresh.V, Sriraj Kalluvila and Anil D'Silva)
((BansariMayur.Kamdar@thomsonreuters.com; Twitter: @BansariKamdar))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Capping some of the losses on the commodity-heavy FTSE 100, mining stocks such as Glencore GLEN.L, Rio Tinto RIO.L and Anglo American AAL.L rose between 1.1% and 1.5% as metal prices gained on a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. By Bansari Mayur Kamdar Sept 22 (Reuters) - UK shares fell on Thursday after an expected 50 basis point interest rate hike by the Bank of England in a bid to tame inflation fueled fears of an economic slowdown. "The door is now open for a bigger hike in November, with the MPC explicitly acknowledging that should their updated outlook points to more persistent inflationary pressures, including from stronger demand, the Bank stands ready to respond forcefully."
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Capping some of the losses on the commodity-heavy FTSE 100, mining stocks such as Glencore GLEN.L, Rio Tinto RIO.L and Anglo American AAL.L rose between 1.1% and 1.5% as metal prices gained on a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. By Bansari Mayur Kamdar Sept 22 (Reuters) - UK shares fell on Thursday after an expected 50 basis point interest rate hike by the Bank of England in a bid to tame inflation fueled fears of an economic slowdown. The Bank of England raised its key interest rate to 2.25% from 1.75% and said it would continue to "respond forcefully, as necessary" to inflation, despite the economy entering recession.
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Capping some of the losses on the commodity-heavy FTSE 100, mining stocks such as Glencore GLEN.L, Rio Tinto RIO.L and Anglo American AAL.L rose between 1.1% and 1.5% as metal prices gained on a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. By Bansari Mayur Kamdar Sept 22 (Reuters) - UK shares fell on Thursday after an expected 50 basis point interest rate hike by the Bank of England in a bid to tame inflation fueled fears of an economic slowdown. The blue-chip FTSE 100 index .FTSE declined 0.5% by 11:32 GMT after briefly paring some losses following UK central bank's rate decision.
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Capping some of the losses on the commodity-heavy FTSE 100, mining stocks such as Glencore GLEN.L, Rio Tinto RIO.L and Anglo American AAL.L rose between 1.1% and 1.5% as metal prices gained on a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. By Bansari Mayur Kamdar Sept 22 (Reuters) - UK shares fell on Thursday after an expected 50 basis point interest rate hike by the Bank of England in a bid to tame inflation fueled fears of an economic slowdown. The Bank of England raised its key interest rate to 2.25% from 1.75% and said it would continue to "respond forcefully, as necessary" to inflation, despite the economy entering recession.
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3247.0
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2022-09-21 00:00:00 UTC
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United Airlines seeks to resume U.S. flights to Cuba
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AAL
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https://www.nasdaq.com/articles/united-airlines-seeks-to-resume-u.s.-flights-to-cuba
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 21 (Reuters) - United Airlines UAL.O said on Wednesday it is working to resume flights to Cuba later this year that it suspended in March 2020 because of the COVID-19 pandemic.
The Chicago-based U.S. airline said it has been working for months to relaunch service but faces hurdles. It asked the U.S. Transportation Department (USDOT) for a waiver for 30 additional days as it works to resume service.
United previously flew seven flights weekly to Havana from its Houston and Newark hubs. United said it needs to "undertake significant work including re-negotiating multiple contracts with service providers that have lapsed, building out necessary infrastructure in Terminal 3 at Havana’s airport where United
is being relocated."
United said given the challenges it is concerned it cannot resume flights by an Oct. 31 USDOT deadline.
On Monday, the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, Florida.
That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports.
In June, USDOT lifted a series of restrictions on flights to Cuba imposed under former President Donald Trump, including ending a prohibition on U.S. airline flights to smaller Cuban airports outside Havana.
At the time, Secretary of State Antony Blinken said the action was "in support of the Cuban people, and in the foreign policy interests of the United States."
The Trump administration had barred passenger airline flights to smaller Cuban airports.
In July, American Airlines received permission to resume service to some smaller Cuban airports. American sought approval for flights from Miami to Santa Clara, Holguin, Matanzas/Varadero and Santiago de Cuba.
(Reporting by David Shepardson; Editing by Leslie Adler and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On Monday, the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, Florida. By David Shepardson WASHINGTON, Sept 21 (Reuters) - United Airlines UAL.O said on Wednesday it is working to resume flights to Cuba later this year that it suspended in March 2020 because of the COVID-19 pandemic. It asked the U.S. Transportation Department (USDOT) for a waiver for 30 additional days as it works to resume service.
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On Monday, the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, Florida. That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. In June, USDOT lifted a series of restrictions on flights to Cuba imposed under former President Donald Trump, including ending a prohibition on U.S. airline flights to smaller Cuban airports outside Havana.
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On Monday, the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, Florida. By David Shepardson WASHINGTON, Sept 21 (Reuters) - United Airlines UAL.O said on Wednesday it is working to resume flights to Cuba later this year that it suspended in March 2020 because of the COVID-19 pandemic. That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports.
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On Monday, the Biden administration agreed to expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue Airways JBLU.O departure from Fort Lauderdale, Florida. By David Shepardson WASHINGTON, Sept 21 (Reuters) - United Airlines UAL.O said on Wednesday it is working to resume flights to Cuba later this year that it suspended in March 2020 because of the COVID-19 pandemic. In July, American Airlines received permission to resume service to some smaller Cuban airports.
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3248.0
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2022-09-20 00:00:00 UTC
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American Airlines (AAL) Dips More Than Broader Markets: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-dips-more-than-broader-markets%3A-what-you-should-know-3
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American Airlines (AAL) closed at $13.97 in the latest trading session, marking a -1.69% move from the prior day. This move lagged the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 1.01%, and the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the world's largest airline had gained 3.65% in the past month. In that same time, the Transportation sector lost 9.58%, while the S&P 500 lost 7.59%.
Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. On that day, American Airlines is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 151.52%. Meanwhile, our latest consensus estimate is calling for revenue of $13.34 billion, up 48.74% from the prior-year quarter.
AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. These results would represent year-over-year changes of +90.21% and +61.27%, respectively.
Investors might also notice recent changes to analyst estimates for American Airlines. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. American Airlines is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) closed at $13.97 in the latest trading session, marking a -1.69% move from the prior day. AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
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AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed at $13.97 in the latest trading session, marking a -1.69% move from the prior day.
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American Airlines (AAL) closed at $13.97 in the latest trading session, marking a -1.69% move from the prior day. AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
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American Airlines (AAL) closed at $13.97 in the latest trading session, marking a -1.69% move from the prior day. AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. To follow AAL in the coming trading sessions, be sure to utilize Zacks.com.
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3249.0
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2022-09-20 00:00:00 UTC
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American Airlines says data breach hits small number of customers, employees
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AAL
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https://www.nasdaq.com/articles/american-airlines-says-data-breach-hits-small-number-of-customers-employees
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Adds details from news release, shares
Sept 20 (Reuters) - American Airlines Inc AAL.O said on Tuesday that hackers gained access to personal information of a small number of customers and employees through a phishing campaign.
The airline said it had no evidence that any personal data was misused.
Shares of the company pared gains to trade down 1%.
"American Airlines is aware of a phishing campaign that led to the unauthorized access to a limited number of team member mailboxes," the carrier said in a statement.
The airline added it was implementing additional technical safeguards to prevent similar incidents, without giving further details.
(Reporting by Nathan Gomes in Bengaluru; Editing by Anil D'Silva)
((Nathan.Gomes@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from news release, shares Sept 20 (Reuters) - American Airlines Inc AAL.O said on Tuesday that hackers gained access to personal information of a small number of customers and employees through a phishing campaign. "American Airlines is aware of a phishing campaign that led to the unauthorized access to a limited number of team member mailboxes," the carrier said in a statement. The airline added it was implementing additional technical safeguards to prevent similar incidents, without giving further details.
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Adds details from news release, shares Sept 20 (Reuters) - American Airlines Inc AAL.O said on Tuesday that hackers gained access to personal information of a small number of customers and employees through a phishing campaign. "American Airlines is aware of a phishing campaign that led to the unauthorized access to a limited number of team member mailboxes," the carrier said in a statement. (Reporting by Nathan Gomes in Bengaluru; Editing by Anil D'Silva) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from news release, shares Sept 20 (Reuters) - American Airlines Inc AAL.O said on Tuesday that hackers gained access to personal information of a small number of customers and employees through a phishing campaign. "American Airlines is aware of a phishing campaign that led to the unauthorized access to a limited number of team member mailboxes," the carrier said in a statement. (Reporting by Nathan Gomes in Bengaluru; Editing by Anil D'Silva) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details from news release, shares Sept 20 (Reuters) - American Airlines Inc AAL.O said on Tuesday that hackers gained access to personal information of a small number of customers and employees through a phishing campaign. The airline said it had no evidence that any personal data was misused. The airline added it was implementing additional technical safeguards to prevent similar incidents, without giving further details.
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3250.0
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2022-09-19 00:00:00 UTC
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U.S. OKs new American Airlines, JetBlue flights to Havana
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https://www.nasdaq.com/articles/u.s.-oks-new-american-airlines-jetblue-flights-to-havana
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By David Shepardson
WASHINGTON, Sept 19 (Reuters) - The Biden administration will expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue JBLU.O departure from Fort Lauderdale, Florida, the Transportation Department said on Monday.
That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports.
USDOT said the flights must begin by mid-December. In June, the department lifted a series of restrictions on flights to Cuba, including ending a prohibition on U.S. airline flights to smaller Cuban airports outside Havana.
At the time Secretary of State Antony Blinken said the action was "in support of the Cuban people, and in the foreign policy interests of the United States."
The previous administration under President Donald Trump barred passenger airline flights to smaller Cuban airports.
In July, American Airlines received permission to resume service to some smaller Cuban airports. American sought approval for flights from Miami to Santa Clara, Holguin, Matanzas/Varadero and Santiago de Cuba.
The airline said earlier this year the flights "will enhance service and access between the U.S. and these non-Havana points, after more than two years during which such service was suspended."
During the Trump administration, the United States imposed a cap on charter flights to Cuba at 3,600 per year and later suspended private charter flights to the country. It also barred charter flights to any Cuban airports except Havana.
(Reporting by David Shepardson; Editing by Leslie Adler and Howard Goller)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, Sept 19 (Reuters) - The Biden administration will expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue JBLU.O departure from Fort Lauderdale, Florida, the Transportation Department said on Monday. The previous administration under President Donald Trump barred passenger airline flights to smaller Cuban airports. American sought approval for flights from Miami to Santa Clara, Holguin, Matanzas/Varadero and Santiago de Cuba.
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By David Shepardson WASHINGTON, Sept 19 (Reuters) - The Biden administration will expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue JBLU.O departure from Fort Lauderdale, Florida, the Transportation Department said on Monday. That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. The previous administration under President Donald Trump barred passenger airline flights to smaller Cuban airports.
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By David Shepardson WASHINGTON, Sept 19 (Reuters) - The Biden administration will expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue JBLU.O departure from Fort Lauderdale, Florida, the Transportation Department said on Monday. That is on top of the typical six daily American Airlines flights and three JetBlue flights weekdays to Havana from the Florida airports. In June, the department lifted a series of restrictions on flights to Cuba, including ending a prohibition on U.S. airline flights to smaller Cuban airports outside Havana.
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By David Shepardson WASHINGTON, Sept 19 (Reuters) - The Biden administration will expand U.S. flights to Havana, adding 13 weekly American Airlines AAL.O departures from Miami and a weekly JetBlue JBLU.O departure from Fort Lauderdale, Florida, the Transportation Department said on Monday. The previous administration under President Donald Trump barred passenger airline flights to smaller Cuban airports. During the Trump administration, the United States imposed a cap on charter flights to Cuba at 3,600 per year and later suspended private charter flights to the country.
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3251.0
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2022-09-19 00:00:00 UTC
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Stock Market Today: Stocks Score a Hard-Fought Win to Start the Week
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AAL
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https://www.nasdaq.com/articles/stock-market-today%3A-stocks-score-a-hard-fought-win-to-start-the-week
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The Federal Reserve was top of mind for investors Monday, with the central bank's next policy decision – a likely 75 basis-point rate hike – due out Wednesday. This led to back-and-forth trading for much of the session, though the major market indexes ultimately ended in positive territory today.
SEE MORE 16 Dividend Kings for Decades of Dividend Growth
While theeconomic calendaris relatively thin over the next few days, Wall Street will see a round of housing data in the leadup to the Fed announcement. Today, that was the release of the National Association of Home Builders (NAHB)/Wells Fargo housing market index, which showed builder confidence fell 3 points in September to 46, its lowest level since spring 2020. This was the ninth straight monthly drop in the index, and came amid a "combination of elevated interest rates, persistent building material supply-chain disruptions and high home prices [that] continue to take a toll on affordability," the report stated.
"We expect the other housing market releases this week (housing starts, existing home sales and building permits) will show similar weakness," says Raymond James economist Giampiero Fuentes. "Bad news continues to be good news for the Fed, as it indicates its tightening cycle is working to slow demand."
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In terms of sector performance, materials stocks (+1.7%) were the leaders. Healthcare (-0.5%), meanwhile, lagged as COVID-19 vaccine makers like Pfizer (PFE, -1.3%) and Moderna (MRNA, -7.1%) slid after President Joe Biden said in last night's "60 Minutes" interview that "the pandemic is over."
SEE MORE 12 REITs Flaunting Fast-Growing Dividends
As for the major indexes, the Nasdaq Composite rose 0.8% to 11,535, while the S&P 500 Index (+0.7% at 3,899) and the Dow Jones Industrial Average (+0.6% at 31,019) also closed higher.
YCharts
Other news in thestock market today
The small-cap Russell 2000 gained 0.8% to 1,812.
U.S. crude futures rose 0.7% to finish at $85.73 per barrel.
Gold futures slipped 0.3% to settle at $1,678.20 an ounce.
Bitcoin shed 0.3% to $19,561.50. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)
AutoZone (AZO) fell 3.1% after the auto parts retailer reported earnings. In its fiscal fourth quarter, AZO recorded earnings of $40.51 per share and revenue of $5.35 billion, both higher than analysts were expecting. Same-store sales growth of 6.2% also beat the consensus estimate. "We think the release will go a long way towards easing investor concerns regarding a slowdown in DIY auto aftermarket sales after Advance Auto Parts' earnings miss and guidance cut last month, which it blamed on weak DIY demand," says CFRA Research analyst Garrett Nelson. "We maintain a Hold on valuation, noting that AZO has been the best-performing auto aftermarket stock so far this year."
Airline stocks were some of the best performers today. Among those taking flight were American Airlines (AAL, +3.4%), Delta Air Lines (DAL, +2.6%) and United Airlines (UAL, +3.3%).
Why Investors Should Consider EV Stocks
Rising interest rates have made it a particularly difficult year for growth stocks. This is because higher rates can boost borrowing costs for these companies. And this, in turn, can weigh on their profit margins. One area of growth that has been hit particularly hard are makers of electric vehicles (EVs), which, in addition to battling higher rates, have also had to contend with rising competition, with nearly every traditional automaker throwing their hat into the EV ring.
SEE MORE 5 Stocks Making the Most of Supply-Chain Issues
But this ramp up in competition isn't necessarily bad for electric vehicle stocks. Rather, it expands the overall market, and that market is growing by leaps and bounds, with EV sales up 63% year-over-year in the first half of 2022, according to research firm Canalys. For investors, this year's pullback in EV stocks creates an opportunity to get in on a growing trend at a more attractive valuation. Here, we've put together 10 electric vehicle stocks to watch as industry sales heat up. Check them out.
SEE MORE Who Are the Best Small Online Brokers?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among those taking flight were American Airlines (AAL, +3.4%), Delta Air Lines (DAL, +2.6%) and United Airlines (UAL, +3.3%). The Federal Reserve was top of mind for investors Monday, with the central bank's next policy decision – a likely 75 basis-point rate hike – due out Wednesday. This was the ninth straight monthly drop in the index, and came amid a "combination of elevated interest rates, persistent building material supply-chain disruptions and high home prices [that] continue to take a toll on affordability," the report stated.
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Among those taking flight were American Airlines (AAL, +3.4%), Delta Air Lines (DAL, +2.6%) and United Airlines (UAL, +3.3%). Today, that was the release of the National Association of Home Builders (NAHB)/Wells Fargo housing market index, which showed builder confidence fell 3 points in September to 46, its lowest level since spring 2020. "We expect the other housing market releases this week (housing starts, existing home sales and building permits) will show similar weakness," says Raymond James economist Giampiero Fuentes.
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Among those taking flight were American Airlines (AAL, +3.4%), Delta Air Lines (DAL, +2.6%) and United Airlines (UAL, +3.3%). "We think the release will go a long way towards easing investor concerns regarding a slowdown in DIY auto aftermarket sales after Advance Auto Parts' earnings miss and guidance cut last month, which it blamed on weak DIY demand," says CFRA Research analyst Garrett Nelson. Why Investors Should Consider EV Stocks Rising interest rates have made it a particularly difficult year for growth stocks.
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Among those taking flight were American Airlines (AAL, +3.4%), Delta Air Lines (DAL, +2.6%) and United Airlines (UAL, +3.3%). (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) AutoZone (AZO) fell 3.1% after the auto parts retailer reported earnings. Airline stocks were some of the best performers today.
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3252.0
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2022-09-19 00:00:00 UTC
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FAA denies Republic Airways bid to reduce co-pilot training hours
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https://www.nasdaq.com/articles/faa-denies-republic-airways-bid-to-reduce-co-pilot-training-hours
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By David Shepardson
WASHINGTON, Sept 19 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Monday it had denied a request by Republic Airways to allow the regional airline to reduce the number of hours needed to become a co-pilot.
The FAA said it disagreed with the airline's argument for allowing only 750 hours of flight experience instead of 1,500 hours.
Indiana-based Republic had sought an exemption that would allow graduates from its pilot training program to apply for a restricted airline transport pilot certificate with the same reduced aeronautical experience as military or former military pilots.
Republic flies nearly 1,000 daily flights to 100 cities in 40 U.S. states and operates under major airline partner brands of American Eagle AAL.O, Delta Connection DAL.N and United Express UAL.O.
Republic did not immediately comment on the FAA rejection.
The FAA said the airline’s new training program does not provide an equivalent level of safety as the regulation requiring 1,500 hours of flight experience before a pilot may work for an airline.
Some regional airlines say they are facing a pilot shortage and are unable to find enough qualified pilots to meet demand.
Several unions had opposed Republic's request, with some arguing that a reduction in flight hours and relaxation of standards "would jeopardize safety and result in inexperienced pilots," the FAA said.
The regulations to boost flight hours for co-pilots stemmed in part from the February 2009 crash of Colgan Air Flight 347 in upstate New York that killed 50 people. It was the last major U.S. fatal passenger airline crash.
In July, a group of Republicans in Congress proposed legislation to raise the mandatory commercial pilot retirement age to 67 from 65, in a bid to address airline staffing issues. The proposal would require pilots over age 65 to pass a rigorous medical screening every six months.[nL1N2Z61D4[
(Reporting by David Shepardson; editing by Jonathan Oatis and Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Republic flies nearly 1,000 daily flights to 100 cities in 40 U.S. states and operates under major airline partner brands of American Eagle AAL.O, Delta Connection DAL.N and United Express UAL.O. By David Shepardson WASHINGTON, Sept 19 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Monday it had denied a request by Republic Airways to allow the regional airline to reduce the number of hours needed to become a co-pilot. In July, a group of Republicans in Congress proposed legislation to raise the mandatory commercial pilot retirement age to 67 from 65, in a bid to address airline staffing issues.
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Republic flies nearly 1,000 daily flights to 100 cities in 40 U.S. states and operates under major airline partner brands of American Eagle AAL.O, Delta Connection DAL.N and United Express UAL.O. Indiana-based Republic had sought an exemption that would allow graduates from its pilot training program to apply for a restricted airline transport pilot certificate with the same reduced aeronautical experience as military or former military pilots. The FAA said the airline’s new training program does not provide an equivalent level of safety as the regulation requiring 1,500 hours of flight experience before a pilot may work for an airline.
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Republic flies nearly 1,000 daily flights to 100 cities in 40 U.S. states and operates under major airline partner brands of American Eagle AAL.O, Delta Connection DAL.N and United Express UAL.O. By David Shepardson WASHINGTON, Sept 19 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Monday it had denied a request by Republic Airways to allow the regional airline to reduce the number of hours needed to become a co-pilot. Indiana-based Republic had sought an exemption that would allow graduates from its pilot training program to apply for a restricted airline transport pilot certificate with the same reduced aeronautical experience as military or former military pilots.
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Republic flies nearly 1,000 daily flights to 100 cities in 40 U.S. states and operates under major airline partner brands of American Eagle AAL.O, Delta Connection DAL.N and United Express UAL.O. By David Shepardson WASHINGTON, Sept 19 (Reuters) - The U.S. Federal Aviation Administration (FAA) said on Monday it had denied a request by Republic Airways to allow the regional airline to reduce the number of hours needed to become a co-pilot. The FAA said the airline’s new training program does not provide an equivalent level of safety as the regulation requiring 1,500 hours of flight experience before a pilot may work for an airline.
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3253.0
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2022-09-19 00:00:00 UTC
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S&P 500 Movers: MRNA, AAL
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https://www.nasdaq.com/articles/sp-500-movers%3A-mrna-aal-0
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In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 3.4%. Year to date, American Airlines Group has lost about 20.8% of its value.
And the worst performing S&P 500 component thus far on the day is Moderna, trading down 5.9%. Moderna is lower by about 49.0% looking at the year to date performance.
Two other components making moves today are DexCom, trading down 3.8%, and Mosaic, trading up 3.3% on the day.
VIDEO: S&P 500 Movers: MRNA, AAL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 3.4%. Year to date, American Airlines Group has lost about 20.8% of its value.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 3.4%. Year to date, American Airlines Group has lost about 20.8% of its value.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 3.4%. And the worst performing S&P 500 component thus far on the day is Moderna, trading down 5.9%.
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VIDEO: S&P 500 Movers: MRNA, AAL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In early trading on Monday, shares of American Airlines Group topped the list of the day's best performing components of the S&P 500 index, trading up 3.4%. And the worst performing S&P 500 component thus far on the day is Moderna, trading down 5.9%.
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3254.0
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2022-09-16 00:00:00 UTC
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Peru central bank lowers growth forecasts despite government stimulus
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https://www.nasdaq.com/articles/peru-central-bank-lowers-growth-forecasts-despite-government-stimulus
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Adds details, context
LIMA, Sept 16 (Reuters) - Peru's central bank on Friday lowered its economic growth estimates for 2022 and 2023, amid worsening expectations despite a package of government stimulus measures aimed at boosting local production.
The central bank now expects 2022 growth of 3.0%, compared with 3.1% previously, and 2023 growth of 3.0%, compared with 3.2% previously. It also predicted that annual inflation would rise to 7.8% this year and 3.0% in 2023.
This comes after Finance Minister Kurt Burneo last week launched an economic package aimed at lifting the economy at times of a global slowdown and falling copper prices, which are key to the country's economy.
Burneo had earlier in September said Peru could achieve economic growth of 3.9% in 2022, rising to 4.3% in 2023, thanks to the stimulus package, although many of its measures are still awaiting approval from Congress.
"There are no magic wands", central bank chief Julio Velarde told a press conference, saying the bank was still examining the impacts of the government's stimulus measures.
Velarde said the bank was maintaining its 2022 fiscal deficit projection at 1.9% of gross domestic product (GDP) and at 1.8% of GDP next year.
Regarding Peru's key mining sector, Velarde said investment should decline by 3.7% in 2022 and in 2023 this decline should deepen to 16.2%, following the completion of Anglo American's Quellaveco copper project AAL.L in the south of the country.
Peru is the world's second largest copper producer and its mining exports total around 60% of the South American country's overall exports.
(Reporting by Marco Aquino; Writing by Aida Pelaez-Fernandez; Editing by Sarah Morland, Mark Porter and Jonathan Oatis)
((Aida.Pelaez-Fernandez@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Regarding Peru's key mining sector, Velarde said investment should decline by 3.7% in 2022 and in 2023 this decline should deepen to 16.2%, following the completion of Anglo American's Quellaveco copper project AAL.L in the south of the country. Adds details, context LIMA, Sept 16 (Reuters) - Peru's central bank on Friday lowered its economic growth estimates for 2022 and 2023, amid worsening expectations despite a package of government stimulus measures aimed at boosting local production. Burneo had earlier in September said Peru could achieve economic growth of 3.9% in 2022, rising to 4.3% in 2023, thanks to the stimulus package, although many of its measures are still awaiting approval from Congress.
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Regarding Peru's key mining sector, Velarde said investment should decline by 3.7% in 2022 and in 2023 this decline should deepen to 16.2%, following the completion of Anglo American's Quellaveco copper project AAL.L in the south of the country. Adds details, context LIMA, Sept 16 (Reuters) - Peru's central bank on Friday lowered its economic growth estimates for 2022 and 2023, amid worsening expectations despite a package of government stimulus measures aimed at boosting local production. The central bank now expects 2022 growth of 3.0%, compared with 3.1% previously, and 2023 growth of 3.0%, compared with 3.2% previously.
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Regarding Peru's key mining sector, Velarde said investment should decline by 3.7% in 2022 and in 2023 this decline should deepen to 16.2%, following the completion of Anglo American's Quellaveco copper project AAL.L in the south of the country. Adds details, context LIMA, Sept 16 (Reuters) - Peru's central bank on Friday lowered its economic growth estimates for 2022 and 2023, amid worsening expectations despite a package of government stimulus measures aimed at boosting local production. "There are no magic wands", central bank chief Julio Velarde told a press conference, saying the bank was still examining the impacts of the government's stimulus measures.
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Regarding Peru's key mining sector, Velarde said investment should decline by 3.7% in 2022 and in 2023 this decline should deepen to 16.2%, following the completion of Anglo American's Quellaveco copper project AAL.L in the south of the country. Adds details, context LIMA, Sept 16 (Reuters) - Peru's central bank on Friday lowered its economic growth estimates for 2022 and 2023, amid worsening expectations despite a package of government stimulus measures aimed at boosting local production. It also predicted that annual inflation would rise to 7.8% this year and 3.0% in 2023.
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3255.0
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2022-09-15 00:00:00 UTC
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American Airlines (AAL) Gains As Market Dips: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-gains-as-market-dips%3A-what-you-should-know-4
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nan
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nan
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In the latest trading session, American Airlines (AAL) closed at $14.27, marking a +1.71% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.
Coming into today, shares of the world's largest airline had lost 6.22% in the past month. In that same time, the Transportation sector lost 7.46%, while the S&P 500 lost 7.59%.
Investors will be hoping for strength from American Airlines as it approaches its next earnings release. The company is expected to report EPS of $0.51, up 151.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.34 billion, up 48.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion. These totals would mark changes of +90.21% and +61.27%, respectively, from last year.
Any recent changes to analyst estimates for American Airlines should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.96% higher. American Airlines currently has a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the latest trading session, American Airlines (AAL) closed at $14.27, marking a +1.71% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report In the latest trading session, American Airlines (AAL) closed at $14.27, marking a +1.71% move from the previous day. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report In the latest trading session, American Airlines (AAL) closed at $14.27, marking a +1.71% move from the previous day. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
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In the latest trading session, American Airlines (AAL) closed at $14.27, marking a +1.71% move from the previous day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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3256.0
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2022-09-15 00:00:00 UTC
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After South African dam collapse, mine waste to be pumped into historical pit
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AAL
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https://www.nasdaq.com/articles/after-south-african-dam-collapse-mine-waste-to-be-pumped-into-historical-pit
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nan
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nan
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By Nelson Banya and Helen Reid
Sept 15 (Reuters) - A South African company is dumping the sludgy byproduct of mining into a historical diamond pit after the tailings dam that had stored the waste partially collapsed, killing one and leaving scores injured.
The government agency overseeing cultural preservation said on Thursday it approved plans to fill the historic Jagersfontein diamond mining pit with waste from a second compartment of the tailings dam in order to prevent a secondary breach after one compartment of the dam failed.
Public documents show Jagersfontein Developments, the company reprocessing old tailings around the disused pit to recover diamonds, has lodged five applications over the past decade with the South African Heritage Resources Agency (SAHRA) seeking permission to store liquid mine waste that is a byproduct of that reprocessing in the pit rather than the dam.
The latest request was made on Aug. 17, just four weeks before the tailings dam disaster.
An earlier decision to move the waste into the pit could have relieved pressure on the tailings dam which burst on Sunday morning, unleashing a flood of gray sludge that swept away houses and cars in Jagersfontein, a small town in South Africa's Free State province.
But the pit, the oldest and biggest hand-dug diamond mine in the world, is classed as a historical site and filling it up requires approval by SAHRA.
The Department of Water and Sanitation authorised the "immediate" pumping of slime from the second compartment of the tailings dam into the pit on Monday, the day after the dam burst, prompting SAHRA to approve the backfilling on Thursday.
"As the town of Jagersfontein is in a state of disaster because of the collapsed tailings dam (...) no further assessment of the impact to heritage resources are required," SAHRA said, adding it had no objections to the plan submitted on Aug. 17.
Jagersfontein Developments first applied to backfill the historical pit in September 2012, and SAHRA granted it permission in June 2013, but the Jagersfontein Community Trust appealed the decision and the company withdrew its application in January 2014.
SAHRA said the subsequent applications made by Jagersfontein Developments in 2018, 2019 and 2020 were incomplete.
Fortune seekers drawn by South Africa's diamond rush started digging at Jagersfontein in 1870. By 1907 the pit was bigger even than the more famous "Big Hole" in Kimberley, and reached a depth of 250 metres (820 ft).
Since then it has changed hands multiple times.
De Beers, the diamond mining unit of Anglo American Plc AAL.L, was the last company to mine Jagersfontein until 1971, selling the mine and surrounding dry tailings dumps in 2010 to Superkolong Consortium.
Dubai-based Stargems Group purchased the assets from the Luxembourg-based investment fund Reinet in April 2022. Reuters could not immediately establish when Reinet bought Jagersfontein from Superkolong, and Reinet did not respond to requests for comment.
Neither Stargems nor Jagersfontein Development, a Stargems subsidiary, replied to questions about their plans to backfill the pit.
Sunday's disaster has raised questions about oversight of hundreds of tailings dams littered across South Africa.
In 2007 South Africa's High Court ruled that the Jagersfontein tailings dumps do not fall under the purview of the mines ministry, meaning companies processing the dumps do not require a mining licence.
Visiting Jagersfontein on Tuesday, minerals and energy minister Gwede Mantashe criticised that ruling, saying it should be "revisited" so that the ministry can inspect tailings dams.
"A (tailings) dam, you can't trust it, it can break anytime," he said in a video posted on his Twitter account.
(Reporting by Nelson Banya and Helen Reid; editing by Ernest Scheyder and Jonathan Oatis)
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, was the last company to mine Jagersfontein until 1971, selling the mine and surrounding dry tailings dumps in 2010 to Superkolong Consortium. By Nelson Banya and Helen Reid Sept 15 (Reuters) - A South African company is dumping the sludgy byproduct of mining into a historical diamond pit after the tailings dam that had stored the waste partially collapsed, killing one and leaving scores injured. An earlier decision to move the waste into the pit could have relieved pressure on the tailings dam which burst on Sunday morning, unleashing a flood of gray sludge that swept away houses and cars in Jagersfontein, a small town in South Africa's Free State province.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, was the last company to mine Jagersfontein until 1971, selling the mine and surrounding dry tailings dumps in 2010 to Superkolong Consortium. By Nelson Banya and Helen Reid Sept 15 (Reuters) - A South African company is dumping the sludgy byproduct of mining into a historical diamond pit after the tailings dam that had stored the waste partially collapsed, killing one and leaving scores injured. The government agency overseeing cultural preservation said on Thursday it approved plans to fill the historic Jagersfontein diamond mining pit with waste from a second compartment of the tailings dam in order to prevent a secondary breach after one compartment of the dam failed.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, was the last company to mine Jagersfontein until 1971, selling the mine and surrounding dry tailings dumps in 2010 to Superkolong Consortium. By Nelson Banya and Helen Reid Sept 15 (Reuters) - A South African company is dumping the sludgy byproduct of mining into a historical diamond pit after the tailings dam that had stored the waste partially collapsed, killing one and leaving scores injured. The government agency overseeing cultural preservation said on Thursday it approved plans to fill the historic Jagersfontein diamond mining pit with waste from a second compartment of the tailings dam in order to prevent a secondary breach after one compartment of the dam failed.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, was the last company to mine Jagersfontein until 1971, selling the mine and surrounding dry tailings dumps in 2010 to Superkolong Consortium. By Nelson Banya and Helen Reid Sept 15 (Reuters) - A South African company is dumping the sludgy byproduct of mining into a historical diamond pit after the tailings dam that had stored the waste partially collapsed, killing one and leaving scores injured. The government agency overseeing cultural preservation said on Thursday it approved plans to fill the historic Jagersfontein diamond mining pit with waste from a second compartment of the tailings dam in order to prevent a secondary breach after one compartment of the dam failed.
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3257.0
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2022-09-15 00:00:00 UTC
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Noteworthy Thursday Option Activity: AAL, DE, CRM
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AAL
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https://www.nasdaq.com/articles/noteworthy-thursday-option-activity%3A-aal-de-crm
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nan
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nan
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 143,495 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.7% of AAL's average daily trading volume over the past month, of 26.3 million shares. Particularly high volume was seen for the $5 strike put option expiring January 19, 2024, with 47,200 contracts trading so far today, representing approximately 4.7 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange:
Deere & Co. (Symbol: DE) saw options trading volume of 8,169 contracts, representing approximately 816,900 underlying shares or approximately 51.4% of DE's average daily trading volume over the past month, of 1.6 million shares. Especially high volume was seen for the $395 strike call option expiring September 16, 2022, with 887 contracts trading so far today, representing approximately 88,700 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $395 strike highlighted in orange:
And Salesforce Inc (Symbol: CRM) saw options trading volume of 39,381 contracts, representing approximately 3.9 million underlying shares or approximately 51.3% of CRM's average daily trading volume over the past month, of 7.7 million shares. Especially high volume was seen for the $210 strike put option expiring September 16, 2022, with 3,800 contracts trading so far today, representing approximately 380,000 underlying shares of CRM. Below is a chart showing CRM's trailing twelve month trading history, with the $210 strike highlighted in orange:
For the various different available expirations for AAL options, DE options, or CRM options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $5 strike put option expiring January 19, 2024, with 47,200 contracts trading so far today, representing approximately 4.7 million underlying shares of AAL. Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 143,495 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.7% of AAL's average daily trading volume over the past month, of 26.3 million shares.
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Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange: Deere & Co. (Symbol: DE) saw options trading volume of 8,169 contracts, representing approximately 816,900 underlying shares or approximately 51.4% of DE's average daily trading volume over the past month, of 1.6 million shares. Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 143,495 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.7% of AAL's average daily trading volume over the past month, of 26.3 million shares.
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 143,495 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). Below is a chart showing AAL's trailing twelve month trading history, with the $5 strike highlighted in orange: Deere & Co. (Symbol: DE) saw options trading volume of 8,169 contracts, representing approximately 816,900 underlying shares or approximately 51.4% of DE's average daily trading volume over the past month, of 1.6 million shares. That number works out to 54.7% of AAL's average daily trading volume over the past month, of 26.3 million shares.
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Particularly high volume was seen for the $5 strike put option expiring January 19, 2024, with 47,200 contracts trading so far today, representing approximately 4.7 million underlying shares of AAL. Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in American Airlines Group Inc (Symbol: AAL), where a total volume of 143,495 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.7% of AAL's average daily trading volume over the past month, of 26.3 million shares.
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3258.0
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2022-09-15 00:00:00 UTC
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Amplats unit takes Zimbabwe tax agency to court over $24 mln royalty dispute
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AAL
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https://www.nasdaq.com/articles/amplats-unit-takes-zimbabwe-tax-agency-to-court-over-%2424-mln-royalty-dispute
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nan
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nan
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HARARE, Sept 15 (Reuters) - Anglo American Platinum's AMSJ.J Zimbabwe unit has taken the Zimbabwe Revenue Authority (ZIMRA) to court over a $24 million royalty dispute, court documents seen by Reuters show.
Unki Platinum mine filed an urgent application in Zimbabwe's high court on Sept. 9 to stop the revenue authority from seizing the money from the miner's bank account, which ZIMRA claims is the value of royalties it is owed by the wholly owned Amplats subsidiary.
In its court application, Unki said it had paid the disputed outstanding royalties in Zimbabwe dollars on July 29, but ZIMRA has insisted the payment should be in foreign currency.
A ZIMRA spokesperson said they were not able to provide an immediate comment.
Zimbabwe currently allows foreign currencies to circulate in the economy alongside the local dollar.
In 2020, the government ordered miners to pay royalties in foreign currency. Although that rule was relaxed in February 2022 to allow mining companies to pay 50% of their royalties in local currency, Unki argues the Zimbabwe dollar should be able to be used to pay all taxes and royalties.
The Amplats unit said ZIMRA's move was "unlawful" and threatened its business as it is unable to trade, pay suppliers and purchase raw materials.
"The consequence is that the applicant has been locked out of its bank accounts with devastating consequences," Unki said in its application.
Unki and ZIMRA have been embroiled in a dispute over royalties since 2018, when a special mining agreement with the government allowed it to calculate its royalties after deducting expenses.
The two parties have sparred over the calculation of royalties, with ZIMRA insisting that Unki should pay royalties on the gross value of refined minerals. Unki, however, says it only produces concentrates, not refined metals, and sells these to refiners in South Africa.
The $24 million which ZIMRA claims as underpaid royalties by Unki arises from the two parties' different interpretations of the tax regulations, leading to different calculations.
(Reporting by Nelson Banya;Editing by Elaine Hardcastle)
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Unki Platinum mine filed an urgent application in Zimbabwe's high court on Sept. 9 to stop the revenue authority from seizing the money from the miner's bank account, which ZIMRA claims is the value of royalties it is owed by the wholly owned Amplats subsidiary. In its court application, Unki said it had paid the disputed outstanding royalties in Zimbabwe dollars on July 29, but ZIMRA has insisted the payment should be in foreign currency. The Amplats unit said ZIMRA's move was "unlawful" and threatened its business as it is unable to trade, pay suppliers and purchase raw materials.
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HARARE, Sept 15 (Reuters) - Anglo American Platinum's AMSJ.J Zimbabwe unit has taken the Zimbabwe Revenue Authority (ZIMRA) to court over a $24 million royalty dispute, court documents seen by Reuters show. Although that rule was relaxed in February 2022 to allow mining companies to pay 50% of their royalties in local currency, Unki argues the Zimbabwe dollar should be able to be used to pay all taxes and royalties. The two parties have sparred over the calculation of royalties, with ZIMRA insisting that Unki should pay royalties on the gross value of refined minerals.
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Unki Platinum mine filed an urgent application in Zimbabwe's high court on Sept. 9 to stop the revenue authority from seizing the money from the miner's bank account, which ZIMRA claims is the value of royalties it is owed by the wholly owned Amplats subsidiary. Although that rule was relaxed in February 2022 to allow mining companies to pay 50% of their royalties in local currency, Unki argues the Zimbabwe dollar should be able to be used to pay all taxes and royalties. The two parties have sparred over the calculation of royalties, with ZIMRA insisting that Unki should pay royalties on the gross value of refined minerals.
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In its court application, Unki said it had paid the disputed outstanding royalties in Zimbabwe dollars on July 29, but ZIMRA has insisted the payment should be in foreign currency. In 2020, the government ordered miners to pay royalties in foreign currency. The two parties have sparred over the calculation of royalties, with ZIMRA insisting that Unki should pay royalties on the gross value of refined minerals.
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3259.0
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2022-09-15 00:00:00 UTC
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5 Broker-Friendly Stocks to Watch as Inflation Stays Red Hot
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AAL
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https://www.nasdaq.com/articles/5-broker-friendly-stocks-to-watch-as-inflation-stays-red-hot
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nan
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nan
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Inflation in the United States remains sky-high, implying that market volatility is still rampant. Data released on Sep 13 showed that the Consumer Price Index (CPI) inflation for August 2022 was up 8.3% year over year. The reading was above analysts’ expectations of an 8.1% rise. The greater-than-expected increase came despite a 10.6% decline in gasoline prices. Higher shelter, food and medical care prices caused the high inflation reading. The red-hot inflation data induced fears that consumer spending will decline sharply in the days ahead.
The Fed already hiked interest rates 225 basis points so far this year. The August reading more or less confirms that the Fed will opt for a sharp rate hike (probably another 75-basis-point increase) later this month. Higher interest rates result in the cost of borrowing moving north. This escalates the chances of an economic slowdown.
Despite the current turmoil, shunning equities is never advisable for investors. So what’s the way forward? One ideal solution is to pay heed to broker advice while designing one’s portfolio in the current scenario of high-interest rates. Broker-friendly stocks like American Airlines AAL, CVR Energy CVI, Builders FirstSource BLDR, McKesson MCK and Beacon Roofing Supply BECN are worth keeping on one’s radar for healthy returns amid this market bloodbath.
Why Broker Advice is the Way Forward
Brokers have an in-depth understanding of stocks, great knowledge of the industry and a firm grasp over the broader economy. They scrutinize a company’s fundamentals and weigh the same against the prevalent economic scenario to find out how attractive or creditworthy a stock is as an investment bet.
After thorough research work, brokers recommend (buy, sell or hold) a stock. Such well-researched information is not available to individual investors. So, in the absence of proper guidance, they may end up selecting the wrong stocks for their portfolio. This might waste their hard-earned money, which they invested in the stock markets. To avoid such an unfortunate scenario, it is ideal for investors to be guided by an expert’s know-how while picking a basket of lucrative stocks.
Winning Strategy
The above write-up clearly suggests that by following broker actions, one can arrive at a winning portfolio of stocks. Keeping this in mind, we designed a screen to shortlist stocks based on improving analyst recommendations and upward revisions of earnings estimates over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it is included. The price/sales ratio takes care of a company’s top line, making the strategy foolproof.
Screening Criteria
# (Up- Down Rating)/ Total (4 weeks) =Top #75: This gives the list of top 75 companies that have witnessed net upgrades over the last 4 weeks.
% change in Q (1) est. (4 weeks) = Top #10: This gives the top 10 stocks that have witnessed earnings estimate revisions over the past 4 weeks for the upcoming quarter.
To ensure that the strategy is a winning one, covering all bases, we added the following screening parameters:
Price-to-Sales = Bot%10: The lower the ratio the better, companies meeting this criteria are in the bottom 10% of our universe of over 7,700 stocks with respect to this ratio.
Price greater than 5: A stock trading below $5 will not likely create significant interest for most investors.
Average Daily Volume greater than 100,000 shares over the last 20 trading days: Volume has to be significant to ensure that these are easily traded.
Market value ($ mil) = Top #3000: This gives us stocks that are the top 3000 if one judges by market capitalization.
Com/ADR/Canadian= Com: This eliminates the ADR and Canadian stocks.
Here are five of the 10 stocks that passed the screen test:
American Airlines is based in Fort Worth, TX. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. However, high fuel costs are hurting the bottom line.
Over the past 60 days, the stock has seen the Zacks Consensus Estimate for 2022 earnings being revised 21.2% upward. AAL currently carries a Zacks Rank #3 (Hold).
CVR Energy is an independent refiner and marketer of high-value transportation fuels. CVI is also a producer of ammonia and urea ammonia nitrate fertilizers. CVI's petroleum business includes full-coking sour crude refinery in Coffeyville, KS. Its efforts to reward its shareholders underline its strong financial position. The robust Nitrogen Fertilizer unit is supporting growth.
CVR Energy, currently carrying a Zacks Rank of 3, has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 17.6% over the past 60 days.
Builders FirstSource focuses on faster-growth categories, disciplined pricing and strategic buyouts. Acquisitions are integral to BLDR’s growth strategy. BLDR recently concluded the buyout of National Lumber, the largest independent building materials supplier in New England. Also, strong demand for single-family housing is steadily supporting top-line growth.
Builders FirstSource has a trailing four-quarter earnings surprise of 88.6%, on average. BLDR currently carries a Zacks Rank #3. The Zacks Consensus Estimate for BLDR’s 2022 earnings has been revised 28.9% upward in the past 60 days.
California-based McKesson is a health care services and information technology company. McKesson is a major player in the pharmaceutical and medical supplies distribution market. MCK has been pursuing deals and acquisitions actively to drive growth.
McKesson currently carries a Zacks Rank #2 (Buy). Its earnings outshined the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 13%. You can see the complete list of today’s Zacks #1 Rank (Strong By) stocks here.
Beacon Roofing is the largest publicly-traded distributor of residential and non-residential roofing materials, and complementary building products in the United States and Canada. BECN is gaining traction from its prudent Ambition 2025 long-term plans, focus on enhancing digital platforms and strategic buyouts.
Beacon Roofing iscurrently Zacks #3 Ranked. Its bottom line outpaced the Zacks Consensus Estimate in each of the last four quarters, the average being 23.3%. The Zacks Consensus Estimate for current-year earnings has been revised 5.2% upward in the past 60 days.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and backtest them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks’ portfolios and strategies are available at: https://www.zacks.com/performance.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
McKesson Corporation (MCK): Free Stock Analysis Report
Beacon Roofing Supply, Inc. (BECN): Free Stock Analysis Report
Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report
CVR Energy Inc. (CVI): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Broker-friendly stocks like American Airlines AAL, CVR Energy CVI, Builders FirstSource BLDR, McKesson MCK and Beacon Roofing Supply BECN are worth keeping on one’s radar for healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, CVR Energy CVI, Builders FirstSource BLDR, McKesson MCK and Beacon Roofing Supply BECN are worth keeping on one’s radar for healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, CVR Energy CVI, Builders FirstSource BLDR, McKesson MCK and Beacon Roofing Supply BECN are worth keeping on one’s radar for healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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Broker-friendly stocks like American Airlines AAL, CVR Energy CVI, Builders FirstSource BLDR, McKesson MCK and Beacon Roofing Supply BECN are worth keeping on one’s radar for healthy returns amid this market bloodbath. The gradual increase in air-travel demand (particularly for leisure) is aiding AAL. AAL currently carries a Zacks Rank #3 (Hold).
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3260.0
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2022-09-14 00:00:00 UTC
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Interesting AAL Put And Call Options For September 2023
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AAL
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https://www.nasdaq.com/articles/interesting-aal-put-and-call-options-for-september-2023
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nan
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nan
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Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the September 2023 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 366 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new September 2023 contracts and identified one put and one call contract of particular interest.
The put contract at the $12.00 strike price has a current bid of $1.91. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $12.00, but will also collect the premium, putting the cost basis of the shares at $10.09 (before broker commissions). To an investor already interested in purchasing shares of AAL, that could represent an attractive alternative to paying $13.62/share today.
Because the $12.00 strike represents an approximate 12% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 15.92% return on the cash commitment, or 15.87% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for American Airlines Group Inc, and highlighting in green where the $12.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $15.00 strike price has a current bid of $2.48. If an investor was to purchase shares of AAL stock at the current price level of $13.62/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $15.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 28.34% if the stock gets called away at the September 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $15.00 strike highlighted in red:
Considering the fact that the $15.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 18.21% boost of extra return to the investor, or 18.16% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $13.62) to be 57%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if AAL shares really soar, which is why looking at the trailing twelve month trading history for American Airlines Group Inc, as well as studying the business fundamentals becomes important. Below is a chart showing AAL's trailing twelve month trading history, with the $15.00 strike highlighted in red: Considering the fact that the $15.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the September 2023 expiration.
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Below is a chart showing AAL's trailing twelve month trading history, with the $15.00 strike highlighted in red: Considering the fact that the $15.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the September 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new September 2023 contracts and identified one put and one call contract of particular interest.
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Below is a chart showing AAL's trailing twelve month trading history, with the $15.00 strike highlighted in red: Considering the fact that the $15.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the September 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new September 2023 contracts and identified one put and one call contract of particular interest.
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At Stock Options Channel, our YieldBoost formula has looked up and down the AAL options chain for the new September 2023 contracts and identified one put and one call contract of particular interest. Below is a chart showing AAL's trailing twelve month trading history, with the $15.00 strike highlighted in red: Considering the fact that the $15.00 strike represents an approximate 10% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in American Airlines Group Inc (Symbol: AAL) saw new options begin trading today, for the September 2023 expiration.
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3261.0
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2022-09-13 00:00:00 UTC
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Why Airline Stocks Are Falling Today
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AAL
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https://www.nasdaq.com/articles/why-airline-stocks-are-falling-today-4
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nan
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nan
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What happened
The airline industry's already tricky attempt to navigate away from its pandemic-era lows is facing fresh headwinds, and investors are reacting by heading for the emergency exits. Shares of Hawaiian Holdings (NASDAQ: HA), Frontier Group Holdings (NASDAQ: ULCC), JetBlue Airways (NASDAQ: JBLU), and American Airlines Group (NASDAQ: AAL) both traded down as much as 5% on Tuesday, and shares of Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) weren't far behind, as the market reacted to the latest risks facing the sector.
So what
It has been a difficult few years for airline investors. The pandemic caused travel demand to evaporate, and efforts to return to profitability this year as demand has returned have been complicated by higher fuel and labor costs.
The latest question facing investors is whether demand will hold up should the economy fall into a recession. Markets were deep in the red on Tuesday after the August inflation data came in hotter than expected, raising new concerns the Federal Reserve would be forced to act aggressively to cool the economy and could push the U.S. into a recession.
Inflation is bad for airlines not just because costs go up, but because for most, travel is a luxury item that can be put off at times when more of the paycheck is going to necessities like food and housing. A recession would likely further crimp demand, both for leisure and business travel.
Among the airline stocks, JetBlue is a particular risk right now because of the airline's pending acquisition of Spirit Airlines (NYSE: SAVE). The deal might be a good long-term strategic move, but the prospect of integrating businesses in the middle of a recession is daunting.
American, meanwhile, has the most debt among the four major U.S. airlines and can least afford a prolonged downturn.
The airline stocks could also be reacting to President Joe Biden announcing a crackdown on airline customer service, reacting to a summer full of flight delays and cancellations. The government is requiring airlines to provide meals and hotel rooms to passengers severely impacted by some types of flight delays, adding an additional expense.
Now what
The airlines showed in 2020 and 2021 that the industry is much more resilient than it once was, and investors need not worry that a recession would cause a flurry of bankruptcies. Instead, the issue is when this industry will finally be able to get airborne again after a miserable few years.
At best, it will likely be 2024 before business travel fully returns to pre-pandemic levels and airlines are able to normalize operations. And the threat of a recession means there is no guarantee even that delayed timetable will be met. Given the risks, and the uncertain timing of a reward, there isn't much of a reason to be excited about airline stocks right now.
10 stocks we like better than American Airlines Group
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Lou Whiteman has positions in Delta Air Lines. The Motley Fool recommends Delta Air Lines, Hawaiian Holdings, and JetBlue Airways. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Hawaiian Holdings (NASDAQ: HA), Frontier Group Holdings (NASDAQ: ULCC), JetBlue Airways (NASDAQ: JBLU), and American Airlines Group (NASDAQ: AAL) both traded down as much as 5% on Tuesday, and shares of Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) weren't far behind, as the market reacted to the latest risks facing the sector. What happened The airline industry's already tricky attempt to navigate away from its pandemic-era lows is facing fresh headwinds, and investors are reacting by heading for the emergency exits. Markets were deep in the red on Tuesday after the August inflation data came in hotter than expected, raising new concerns the Federal Reserve would be forced to act aggressively to cool the economy and could push the U.S. into a recession.
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Shares of Hawaiian Holdings (NASDAQ: HA), Frontier Group Holdings (NASDAQ: ULCC), JetBlue Airways (NASDAQ: JBLU), and American Airlines Group (NASDAQ: AAL) both traded down as much as 5% on Tuesday, and shares of Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) weren't far behind, as the market reacted to the latest risks facing the sector. * They just revealed what they believe are the ten best stocks for investors to buy right now... and American Airlines Group wasn't one of them! The Motley Fool recommends Delta Air Lines, Hawaiian Holdings, and JetBlue Airways.
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Shares of Hawaiian Holdings (NASDAQ: HA), Frontier Group Holdings (NASDAQ: ULCC), JetBlue Airways (NASDAQ: JBLU), and American Airlines Group (NASDAQ: AAL) both traded down as much as 5% on Tuesday, and shares of Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) weren't far behind, as the market reacted to the latest risks facing the sector. Among the airline stocks, JetBlue is a particular risk right now because of the airline's pending acquisition of Spirit Airlines (NYSE: SAVE). The airline stocks could also be reacting to President Joe Biden announcing a crackdown on airline customer service, reacting to a summer full of flight delays and cancellations.
|
Shares of Hawaiian Holdings (NASDAQ: HA), Frontier Group Holdings (NASDAQ: ULCC), JetBlue Airways (NASDAQ: JBLU), and American Airlines Group (NASDAQ: AAL) both traded down as much as 5% on Tuesday, and shares of Delta Air Lines (NYSE: DAL) and United Airlines Holdings (NASDAQ: UAL) weren't far behind, as the market reacted to the latest risks facing the sector. A recession would likely further crimp demand, both for leisure and business travel. * They just revealed what they believe are the ten best stocks for investors to buy right now... and American Airlines Group wasn't one of them!
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3262.0
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2022-09-13 00:00:00 UTC
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Boeing deliveries rose in August as it resumed 787 handovers
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AAL
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https://www.nasdaq.com/articles/boeing-deliveries-rose-in-august-as-it-resumed-787-handovers
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 13 (Reuters) - Boeing BA.N jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay.
Boeing said monthly deliveries included 27 737 MAX jets, two 787s and five freighters. That raised the total MAX deliveries this year to 240 jets and overall deliveries to 277 through August.
Boeing deliveries in July had fallen to a five-month low of 26 airplanes, highlighting pressure on global supply chains.
Boeing also on Tuesday reported 30 new gross orders for airplanes, including 13 737 MAX planes and reported 26 net new orders as four 737 MAXs were debooked including two for Chinese-based Okay Airways.
Boeing in August delivered its first 787s since May 2021 -- a 787-9 Lufthansa LHAG.DE and a 787-10 to KLM, part of Air France-KLM AIRF.PA. But two 787s for American Airlines AAL.O that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization.
Boeing's gross orders net of cancellations rose to 338 for the year.
In July, the Federal Aviation Administration(FAA) approved Boeing's inspection and retrofit plan needed to meet certification standards. In September 2020, the FAA said it was investigating manufacturing flaws in some 787 jetliners.
Boeing has about 120 787s awaiting delivery. The FAA said it "will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery." Typically, the FAA delegates airplane ticketing authority to the manufacturer, but in some instances, like the 737 MAX, it has retained responsibility for approving each new airplane.
American Airlines has around 40 additional 787s on order. Two of the new 737 MAX orders in August were for American, Boeing said.
In January, Boeing disclosed a $3.5 billion charge due to 787 delivery delays and customer concessions, and another $1 billion in abnormal production costs stemming from production flaws and related repairs and inspections.
(Reporting by David Shepardson Editing by Nick Zieminski)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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But two 787s for American Airlines AAL.O that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization. By David Shepardson WASHINGTON, Sept 13 (Reuters) - Boeing BA.N jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay. Boeing deliveries in July had fallen to a five-month low of 26 airplanes, highlighting pressure on global supply chains.
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But two 787s for American Airlines AAL.O that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization. By David Shepardson WASHINGTON, Sept 13 (Reuters) - Boeing BA.N jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay. Boeing also on Tuesday reported 30 new gross orders for airplanes, including 13 737 MAX planes and reported 26 net new orders as four 737 MAXs were debooked including two for Chinese-based Okay Airways.
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But two 787s for American Airlines AAL.O that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization. By David Shepardson WASHINGTON, Sept 13 (Reuters) - Boeing BA.N jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay. Boeing also on Tuesday reported 30 new gross orders for airplanes, including 13 737 MAX planes and reported 26 net new orders as four 737 MAXs were debooked including two for Chinese-based Okay Airways.
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But two 787s for American Airlines AAL.O that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization. That raised the total MAX deliveries this year to 240 jets and overall deliveries to 277 through August. Boeing's gross orders net of cancellations rose to 338 for the year.
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3263.0
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2022-09-12 00:00:00 UTC
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Implied SPXE Analyst Target Price: $103
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AAL
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https://www.nasdaq.com/articles/implied-spxe-analyst-target-price%3A-%24103
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nan
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nan
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Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the ProShares S&P 500 Ex-Energy ETF (Symbol: SPXE), we found that the implied analyst target price for the ETF based upon its underlying holdings is $102.67 per unit.
With SPXE trading at a recent price near $86.70 per unit, that means that analysts see 18.42% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of SPXE's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), Celanese Corp (Symbol: CE), and Fifth Third Bancorp (Symbol: FITB). Although AAL has traded at a recent price of $14.19/share, the average analyst target is 26.89% higher at $18.00/share. Similarly, CE has 21.74% upside from the recent share price of $115.29 if the average analyst target price of $140.36/share is reached, and analysts on average are expecting FITB to reach a target price of $43.34/share, which is 21.27% above the recent price of $35.74. Below is a twelve month price history chart comparing the stock performance of AAL, CE, and FITB:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
ProShares S&P 500 Ex-Energy ETF SPXE $86.70 $102.67 18.42%
American Airlines Group Inc AAL $14.19 $18.00 26.89%
Celanese Corp CE $115.29 $140.36 21.74%
Fifth Third Bancorp FITB $35.74 $43.34 21.27%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although AAL has traded at a recent price of $14.19/share, the average analyst target is 26.89% higher at $18.00/share. ProShares S&P 500 Ex-Energy ETF SPXE $86.70 $102.67 18.42% American Airlines Group Inc AAL $14.19 $18.00 26.89% Celanese Corp CE $115.29 $140.36 21.74% Fifth Third Bancorp FITB $35.74 $43.34 21.27% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SPXE's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), Celanese Corp (Symbol: CE), and Fifth Third Bancorp (Symbol: FITB).
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Three of SPXE's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), Celanese Corp (Symbol: CE), and Fifth Third Bancorp (Symbol: FITB). ProShares S&P 500 Ex-Energy ETF SPXE $86.70 $102.67 18.42% American Airlines Group Inc AAL $14.19 $18.00 26.89% Celanese Corp CE $115.29 $140.36 21.74% Fifth Third Bancorp FITB $35.74 $43.34 21.27% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Although AAL has traded at a recent price of $14.19/share, the average analyst target is 26.89% higher at $18.00/share.
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Three of SPXE's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), Celanese Corp (Symbol: CE), and Fifth Third Bancorp (Symbol: FITB). Although AAL has traded at a recent price of $14.19/share, the average analyst target is 26.89% higher at $18.00/share. Below is a twelve month price history chart comparing the stock performance of AAL, CE, and FITB: Below is a summary table of the current analyst target prices discussed above:
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ProShares S&P 500 Ex-Energy ETF SPXE $86.70 $102.67 18.42% American Airlines Group Inc AAL $14.19 $18.00 26.89% Celanese Corp CE $115.29 $140.36 21.74% Fifth Third Bancorp FITB $35.74 $43.34 21.27% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of SPXE's underlying holdings with notable upside to their analyst target prices are American Airlines Group Inc (Symbol: AAL), Celanese Corp (Symbol: CE), and Fifth Third Bancorp (Symbol: FITB). Although AAL has traded at a recent price of $14.19/share, the average analyst target is 26.89% higher at $18.00/share.
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3264.0
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2022-09-12 00:00:00 UTC
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Biden touts U.S. crackdown on airlines over passenger treatment
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AAL
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https://www.nasdaq.com/articles/biden-touts-u.s.-crackdown-on-airlines-over-passenger-treatment
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nan
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nan
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By David Shepardson
WASHINGTON, Sept 12 (Reuters) - President Joe Biden said on Monday his administration had cracked down on U.S. airlines to improve treatment of passengers, a claim rejected by the carriers.
Biden said prior to changes made in customer service plans by major airlines "if your flight was canceled or delayed, no top airline guaranteed covering your cost of hotels and meals."
"My administration is also cracking down on the airlines to get passengers fairer treatment," Biden said. "Secretary Buttigieg, at my request, called them out."
U.S. Transportation Secretary Pete Buttigieg told airlines in August he would publish their responses in a "dashboard" and gave them two weeks to disclose what customer service protections they would commit to offering when delays were the fault of the airline.
"As of last week, airlines now cover hotels - eight of them; nine (cover) meals; nine rebook for free," Biden said. "We’re going to get more rules in the works to protect airline passengers even further."
Airlines for America, a trade group representing American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O, JetBlue Airways JBLU.O and others, took exception to Biden's assertions.
"It is not accurate to say that no U.S. airline covered meals and hotels for passengers severely impacted by carrier-caused flight delays and cancellations," it said in a statement, adding that the dashboard reflected airlines formalizing existing policies.
Airlines canceled or delayed tens of thousands of flights this summer as they struggled to ramp up staffing as demand returned from historic COVID pandemic lows, and Congress has pressed the administration to take a tougher line on airlines.
The Department of Transportation (USDOT) has five categories for rating airlines on for both canceled and delayed flights, including whether they provide meal vouchers for three-hour delays, and pay for hotels, transportation to lodging for stranded passengers and rebooking passengers on the same or another airline. They get checkmarks for providing such services.
American, Delta, United and JetBlue all got five checkmarks for both delayed and canceled flight policies, while Southwest LUV.N and Alaskan Airlines ALK.N got four checkmarks. Low-cost carrier Allegiant ALGT.O initially received no checkmarks but now has three for hotel, transportation and rebooking policies.
Buttigieg told Reuters last month the U.S. approach to regulating airlines and ensuring passengers are properly treated needs improvements.
USDOT has proposed rules to strengthen airline passenger protection and require airlines to provide vouchers that do not expire when passengers are unable to fly for pandemic-related reasons.
Buttigieg plans to finalize a new rule proposed in July 2021 to require passenger airlines to refund fees for bags that are significantly delayed and for services like onboard Wi-Fi that do not work.
Buttigieg said in July USDOT had completed investigations into 10 unnamed airline over delayed or withheld passenger refunds and plans enforcement actions.
(Reporting by David Shepardson Editing by Bill Berkrot)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Airlines for America, a trade group representing American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O, JetBlue Airways JBLU.O and others, took exception to Biden's assertions. By David Shepardson WASHINGTON, Sept 12 (Reuters) - President Joe Biden said on Monday his administration had cracked down on U.S. airlines to improve treatment of passengers, a claim rejected by the carriers. Buttigieg plans to finalize a new rule proposed in July 2021 to require passenger airlines to refund fees for bags that are significantly delayed and for services like onboard Wi-Fi that do not work.
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Airlines for America, a trade group representing American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O, JetBlue Airways JBLU.O and others, took exception to Biden's assertions. American, Delta, United and JetBlue all got five checkmarks for both delayed and canceled flight policies, while Southwest LUV.N and Alaskan Airlines ALK.N got four checkmarks. USDOT has proposed rules to strengthen airline passenger protection and require airlines to provide vouchers that do not expire when passengers are unable to fly for pandemic-related reasons.
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Airlines for America, a trade group representing American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O, JetBlue Airways JBLU.O and others, took exception to Biden's assertions. Biden said prior to changes made in customer service plans by major airlines "if your flight was canceled or delayed, no top airline guaranteed covering your cost of hotels and meals." "It is not accurate to say that no U.S. airline covered meals and hotels for passengers severely impacted by carrier-caused flight delays and cancellations," it said in a statement, adding that the dashboard reflected airlines formalizing existing policies.
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Airlines for America, a trade group representing American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O, JetBlue Airways JBLU.O and others, took exception to Biden's assertions. By David Shepardson WASHINGTON, Sept 12 (Reuters) - President Joe Biden said on Monday his administration had cracked down on U.S. airlines to improve treatment of passengers, a claim rejected by the carriers. The Department of Transportation (USDOT) has five categories for rating airlines on for both canceled and delayed flights, including whether they provide meal vouchers for three-hour delays, and pay for hotels, transportation to lodging for stranded passengers and rebooking passengers on the same or another airline.
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3265.0
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2022-09-12 00:00:00 UTC
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Troubled South African tailings dam had history of high water levels
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AAL
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https://www.nasdaq.com/articles/troubled-south-african-tailings-dam-had-history-of-high-water-levels
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nan
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nan
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By Nelson Banya
Sept 12 (Reuters) - South African authorities shut down the Jagersfontein diamond tailings dam in 2020 due to high water levels before allowing it to reopen last year, a company official said on Monday, a day after the dam burst, killing at least one person and injuring 40.
Sludge flooded out of the tailings dam on Sunday morning, sweeping away houses and cars in Jagersfontein in the Free State province, 514 kilometres southwest of Johannesburg.
Tailings dams - large embankments built to store mine waste - have caused numerous environmental disasters, most notably in Brazil in January 2019, when 270 people died after Vale SA's VALE3.SA Brumadinho tailings dam collapsed.
The Free State provincial government had ordered a halt in operations in 2020, saying then-owner Reinet Investment REIT.LU had exceeded authorised water levels. The government gave the all-clear to resume operations in June 2021 as water levels dropped, according to Jagersfontein Developments, a division of Dubai's Stargems Group, which bought the facility in April 2022.
"We complied with the directive and they gave us a new licence in June of 2021. We've been complying with the water use licence that we have now," Maurice de Villiers, a compliance officer at Jagersfontein, told Reuters.
Jagersfontein is reprocessing the tailings waste in the hopes of finding diamonds that were missed during initial mining, he added.
De Villiers said the cause of the dam collapse was not yet known and experts had been brought in to investigate. Engineers last inspected the dam in July this year, finding that volumes were "within limits" and the dam was safe, Jagersfontein Developments said in a statement.
The company said it had made 20 million rand ($1.17 million) available for relief operations.
The South African Broadcasting Corporation reported that one Jagersfontein resident returned this morning to where her house used to stand before it was swept away yesterday.
"Now it’s a matter of just accepting what has happened and trying to see how we move forward, because at the moment we have nothing," the news channel cited the woman as saying. "Right now we are just back to see whatever we can salvage from the wreck and what help we can get."
'RESTORING LIVELIHOODS'
Addressing people affected by the dam burst in Jagersfontein on Monday evening, South African President Cyril Ramaphosa said the government would investigate.
"This is an accident. Some of you think it's a man-made accident; we're going to investigate. For now, let us focus on restoring the livelihoods of our people here with immediate effect," Ramaphosa said.
Officials from the mines ministry and the Free State provincial government did not immediately respond to requests for comment about the disaster, which has raised questions about oversight of mining operations in the country.
South Africa has the largest number of so-called "upstream" tailings dams that are built using a method considered unsafe by many engineers, a 2019 Reuters report found. In Brazil, Vale is spending billions of dollars on closing its upstream dams and reducing the overall volume of mine waste.
Reuters could not immediately confirm whether Jagersfontein was an upstream tailings dam.
De Beers, the diamond mining unit of Anglo American Plc AAL.L, operated the Jagersfontein mine between 1870 and 1971, before selling it to Superkolong Consortium in 2010. Although mining stopped decades ago, advances in extraction technology have made it possible for gems to be recovered from the old mine waste.
Luxembourg-based investment firm Reinet sold Jagersfontein in 2022 to Stargems, whose specialty is in rough diamond trading, polishing and jewellery, according to its latest annual report. Reinet did not immediately reply to a request for comment.
(Reporting by Nelson Banya; Editing by Helen Reid and Aurora Ellis)
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, operated the Jagersfontein mine between 1870 and 1971, before selling it to Superkolong Consortium in 2010. Sludge flooded out of the tailings dam on Sunday morning, sweeping away houses and cars in Jagersfontein in the Free State province, 514 kilometres southwest of Johannesburg. The government gave the all-clear to resume operations in June 2021 as water levels dropped, according to Jagersfontein Developments, a division of Dubai's Stargems Group, which bought the facility in April 2022.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, operated the Jagersfontein mine between 1870 and 1971, before selling it to Superkolong Consortium in 2010. By Nelson Banya Sept 12 (Reuters) - South African authorities shut down the Jagersfontein diamond tailings dam in 2020 due to high water levels before allowing it to reopen last year, a company official said on Monday, a day after the dam burst, killing at least one person and injuring 40. Addressing people affected by the dam burst in Jagersfontein on Monday evening, South African President Cyril Ramaphosa said the government would investigate.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, operated the Jagersfontein mine between 1870 and 1971, before selling it to Superkolong Consortium in 2010. By Nelson Banya Sept 12 (Reuters) - South African authorities shut down the Jagersfontein diamond tailings dam in 2020 due to high water levels before allowing it to reopen last year, a company official said on Monday, a day after the dam burst, killing at least one person and injuring 40. Tailings dams - large embankments built to store mine waste - have caused numerous environmental disasters, most notably in Brazil in January 2019, when 270 people died after Vale SA's VALE3.SA Brumadinho tailings dam collapsed.
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De Beers, the diamond mining unit of Anglo American Plc AAL.L, operated the Jagersfontein mine between 1870 and 1971, before selling it to Superkolong Consortium in 2010. By Nelson Banya Sept 12 (Reuters) - South African authorities shut down the Jagersfontein diamond tailings dam in 2020 due to high water levels before allowing it to reopen last year, a company official said on Monday, a day after the dam burst, killing at least one person and injuring 40. Addressing people affected by the dam burst in Jagersfontein on Monday evening, South African President Cyril Ramaphosa said the government would investigate.
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3266.0
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2022-09-11 00:00:00 UTC
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South Africa mine dam wall collapses, killing 1 and injuring 40
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https://www.nasdaq.com/articles/south-africa-mine-dam-wall-collapses-killing-1-and-injuring-40
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By Nqobile Dludla
JOHANNESBURG, Sept 11 (Reuters) - Flooding caused by the collapse of a mine dam wall in South Africa's Free State province swept away houses and cars on Sunday, the provincial government said, killing one person and injuring another 40.
The disaster occurred in the diamond mining town of Jagersfontein at around 6:00 a.m. (0400 GMT), the government said, forcing officials to evacuate scores of residents to nearby farms.
One person was declared dead after their body was recovered, while 40 people, including one pregnant woman and four individuals with fractured limbs, have been taken to hospitals for treatment.
The government said in a statement that search and rescue efforts are continuing at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L.
"A detailed report on the circumstances surrounding the incident will be released upon compilation," the office of the Free State Premier said.
Minister of Mineral Resources and Energy Gwede Mantashe told reporters that nine houses were swept away while 20 were completely damaged by flooding from the tailing dam.
"Compensation for fatalities, compensation in terms of damage to property will be taken as a responsibility of the company that owns the slimes dam," he said.
State-owned power utility Eskom said in a separate statement it lost bulk electricity supply in the area when its Rietkuil substation was engulfed by mud and aims to restore supply to the Jagersfontein mine before the end of the day.
"It is impossible to estimate when supply will be restored or to determine the extent of the damage," Eskom said.
The flooding damaged cellphone towers, hitting communications, and affected drinking water, while some roads were cut off. Many sheep have also been washed away, non-governmental organization, Gift of the Givers said.
Mobile operator Vodacom VODJ.J told Reuters that two of its impacted base station sites are now back online after deploying generators to power them, while rival MTN MTNJ.J said it is looking for an alternative way to access a tower it shares with others in order to restore power and services.
The Minerals Council industry body said it had reached out to authorities to offer whatever practical support and assistance that the industry can provide.
De Beers said at the time of the sale of the Jagersfontein mine and tailings in 2010 to Superkolong Consortium, which comprised of black investors, that it had produced some of the world's largest gems when operating between 1870 and 1971.
(Additional reporting by Wendell Roelf; Editing by Alexander Smith and Raissa Kasolowsky)
((nqobile.dludla@thomsonreuters.com; +27103461066;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The government said in a statement that search and rescue efforts are continuing at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. By Nqobile Dludla JOHANNESBURG, Sept 11 (Reuters) - Flooding caused by the collapse of a mine dam wall in South Africa's Free State province swept away houses and cars on Sunday, the provincial government said, killing one person and injuring another 40. Minister of Mineral Resources and Energy Gwede Mantashe told reporters that nine houses were swept away while 20 were completely damaged by flooding from the tailing dam.
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The government said in a statement that search and rescue efforts are continuing at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. By Nqobile Dludla JOHANNESBURG, Sept 11 (Reuters) - Flooding caused by the collapse of a mine dam wall in South Africa's Free State province swept away houses and cars on Sunday, the provincial government said, killing one person and injuring another 40. State-owned power utility Eskom said in a separate statement it lost bulk electricity supply in the area when its Rietkuil substation was engulfed by mud and aims to restore supply to the Jagersfontein mine before the end of the day.
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The government said in a statement that search and rescue efforts are continuing at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. By Nqobile Dludla JOHANNESBURG, Sept 11 (Reuters) - Flooding caused by the collapse of a mine dam wall in South Africa's Free State province swept away houses and cars on Sunday, the provincial government said, killing one person and injuring another 40. Minister of Mineral Resources and Energy Gwede Mantashe told reporters that nine houses were swept away while 20 were completely damaged by flooding from the tailing dam.
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The government said in a statement that search and rescue efforts are continuing at the dormant diamond mine, which was once owned by De Beers, a unit of Anglo American AAL.L. By Nqobile Dludla JOHANNESBURG, Sept 11 (Reuters) - Flooding caused by the collapse of a mine dam wall in South Africa's Free State province swept away houses and cars on Sunday, the provincial government said, killing one person and injuring another 40. One person was declared dead after their body was recovered, while 40 people, including one pregnant woman and four individuals with fractured limbs, have been taken to hospitals for treatment.
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3267.0
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2022-09-11 00:00:00 UTC
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Is It Time to Buy This Game-Changing Electric Aviation Stock?
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https://www.nasdaq.com/articles/is-it-time-to-buy-this-game-changing-electric-aviation-stock
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Pushing to make flying taxis a reality, Vertical Aerospace (NYSE: EVTL) designs and builds zero emission electric vertical take-off and landing (eVTOL) aircraft. The company recently showcased a full-scale model of its flagship VX4 plane and plans to launch its first test flights as early as this summer.
With demand accumulating, Vertical Aerospace's real work starts now. It will have to prove to the world that its tech is functional, worthwhile, and above all, safe.
Global footprint via strategic partnerships
Led by CEO Stephen Fitzpatrick, Vertical Aerospace launched in 2016 with the goal of creating the world's most advanced electric aircraft. Vertical soon began partnering with key businesses, including Rolls-Royce, Microsoft, and Honeywell. (All three of which are equity investors in the company). This granted Vertical access to global engineering teams, manufacturing capabilities, and, most importantly, funding for research and development.
These partnerships provide Vertical Aerospace with advantages in the eVTOL space. For example, Honeywell Aerospace, a global pioneer in avionics, builds advanced flight control systems for Vertical's VX4 vehicle and assists with flight simulation testing. Other partners include Virgin Atlantic, American Airlines, Avolon, and Solvay.
With a global network of partners in place, Vertical pushes to not only spearhead an entirely new flying taxi market, but also to "disrupt and displace" the existing helicopter market. Touted benefits of eVTOL technology versus traditional helicopter travel include safety benefits, less noise, and reduced operating costs.
But the company isn't off the ground yet
Vertical impressed tech enthusiasts and raised hype to a fever pitch when it showcased a full-scale model of its prototype VX4 craft in July. But with real-life air testing being the next phase, the real work is just about to start for Vertical Aerospace.
With a series of ground tests complete, Vertical will next conduct flight tests with a piloted full-scale aircraft. In its early August second-quarter shareholder letter, the company announced it would start flying the fully built VX4 prototype "in the coming weeks."
While Vertical Aerospace anticipates that flight range, performance, and noise will all be substantial testing hurdles, the company's most formidable challenge is proving its aircraft are safe. Certification stands firmly in Vertical Aerospace's crosshairs in the near term. The company will need to demonstrate to regulators that its aircraft meet the highest global standards of aerospace safety.
The expense to design, build, test, and operate aircraft -- especially cutting-edge aircraft -- is significant. In the first half of the year, Vertical reported a net operating loss of 39 million British pounds, a 79% increase from the same period last year. And the company expects to spend up to 50 million pounds more by year's end.
Demand is climbing
Vertical has drummed up plenty of interest for its VX4 eVTOL aircraft, with pre-orders landing from American Airlines, Virgin Atlantic, and many others. Aside from the passenger travel business, Vertical Aerospace has also secured pre-orders for uses in emergency medical and cargo service industries.
As a result, Vertical grew its pre-order book to over 1,400 VX4 craft in the second quarter -- a total value of $5.6 billion. American Airlines also committed to a pre-delivery payment for its first 50 craft on an order that could reach 350 units. According to Fitzpatrick, "[t]he outlook for eVTOLs and Vertical has never looked better."
As of June 30, Vertical had enough cash on hand to continue operations for at least another 12 months. So is it time to buy Vertical Aerospace? Ultimately this depends on risk tolerance.
While risk-averse investors might avoid speculative start-ups like this altogether, those with a higher risk tolerance, and some patience, could see an investment in Vertical Aerospace really take off. Keep in mind that higher-risk investments such as these can present significantly more volatility than blue chip stocks, and also have a much higher rate of failure. As such, risk-averse investors should wait until the company's concept is proven and its product truly lives up to the hype.
As Shark Tank star Kevin O'Leary once said, "Vision is nothing without a plan to execute it." Investors with a longer time horizon and an appetite for more risk could live to see a future where air travel is far more convenient than ever before (think Jetsons). If Vertical Aerospace can execute its plan with minimal delays, this tech stock could ascend to be a leader in the emerging flying taxi market.
10 stocks we like better than Vertical Aerospace Ltd.
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*Stock Advisor returns as of August 17, 2022
Micah Angel has positions in Vertical Aerospace Ltd. The Motley Fool has positions in and recommends Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Global footprint via strategic partnerships Led by CEO Stephen Fitzpatrick, Vertical Aerospace launched in 2016 with the goal of creating the world's most advanced electric aircraft. But the company isn't off the ground yet Vertical impressed tech enthusiasts and raised hype to a fever pitch when it showcased a full-scale model of its prototype VX4 craft in July. While Vertical Aerospace anticipates that flight range, performance, and noise will all be substantial testing hurdles, the company's most formidable challenge is proving its aircraft are safe.
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Pushing to make flying taxis a reality, Vertical Aerospace (NYSE: EVTL) designs and builds zero emission electric vertical take-off and landing (eVTOL) aircraft. Other partners include Virgin Atlantic, American Airlines, Avolon, and Solvay. Demand is climbing Vertical has drummed up plenty of interest for its VX4 eVTOL aircraft, with pre-orders landing from American Airlines, Virgin Atlantic, and many others.
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Pushing to make flying taxis a reality, Vertical Aerospace (NYSE: EVTL) designs and builds zero emission electric vertical take-off and landing (eVTOL) aircraft. While Vertical Aerospace anticipates that flight range, performance, and noise will all be substantial testing hurdles, the company's most formidable challenge is proving its aircraft are safe. See the 10 stocks *Stock Advisor returns as of August 17, 2022 Micah Angel has positions in Vertical Aerospace Ltd.
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Investors with a longer time horizon and an appetite for more risk could live to see a future where air travel is far more convenient than ever before (think Jetsons). If Vertical Aerospace can execute its plan with minimal delays, this tech stock could ascend to be a leader in the emerging flying taxi market. 10 stocks we like better than Vertical Aerospace Ltd.
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3268.0
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2022-09-09 00:00:00 UTC
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Flight searches to London from U.S. surge after Queen Elizabeth's death
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https://www.nasdaq.com/articles/flight-searches-to-london-from-u.s.-surge-after-queen-elizabeths-death
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Sept 9 (Reuters) - Travel startup Hopper said on Friday it had noticed a surge in flight searches to London from the United States following the death of Queen Elizabeth.
In the hour of the announcement of the queen's death flight searches to London from the U.S. saw a 49% spike compared with the previous day, according to the company.
This comes at a time when the British pound is weak against the dollar making Britain an appealing tourist destination for people traveling from the United States.
Flight searches from around the world to London airports surged by 40% compared with the previous day, and jumped 41% compared with 3 hours before the announcement of the queen's death, Hopper said.
(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)
((AnanyaMariam.Rajesh@thomsonreuters.com; Twitter: https://twitter.com/AnanyaMariam))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 9 (Reuters) - Travel startup Hopper said on Friday it had noticed a surge in flight searches to London from the United States following the death of Queen Elizabeth. In the hour of the announcement of the queen's death flight searches to London from the U.S. saw a 49% spike compared with the previous day, according to the company. This comes at a time when the British pound is weak against the dollar making Britain an appealing tourist destination for people traveling from the United States.
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Sept 9 (Reuters) - Travel startup Hopper said on Friday it had noticed a surge in flight searches to London from the United States following the death of Queen Elizabeth. In the hour of the announcement of the queen's death flight searches to London from the U.S. saw a 49% spike compared with the previous day, according to the company. Flight searches from around the world to London airports surged by 40% compared with the previous day, and jumped 41% compared with 3 hours before the announcement of the queen's death, Hopper said.
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Sept 9 (Reuters) - Travel startup Hopper said on Friday it had noticed a surge in flight searches to London from the United States following the death of Queen Elizabeth. Flight searches from around the world to London airports surged by 40% compared with the previous day, and jumped 41% compared with 3 hours before the announcement of the queen's death, Hopper said. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta) ((AnanyaMariam.Rajesh@thomsonreuters.com; Twitter: https://twitter.com/AnanyaMariam)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This comes at a time when the British pound is weak against the dollar making Britain an appealing tourist destination for people traveling from the United States. Flight searches from around the world to London airports surged by 40% compared with the previous day, and jumped 41% compared with 3 hours before the announcement of the queen's death, Hopper said. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta) ((AnanyaMariam.Rajesh@thomsonreuters.com; Twitter: https://twitter.com/AnanyaMariam)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3269.0
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2022-09-09 00:00:00 UTC
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Lawmakers seek U.S. probe on airline handling of COVID funds
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https://www.nasdaq.com/articles/lawmakers-seek-u.s.-probe-on-airline-handling-of-covid-funds
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WASHINGTON, Sept 9 (Reuters) - The leaders of two congressional committees want a federal probe into whether airlines used government pandemic money to fund pilot buyouts and early retirements that may have fueled current pilot shortages, according to a letter released on Friday.
"As a result of pilot shortages, thousands of flights have been delayed or canceled, wreaking havoc on travel plans for millions of American taxpayers," House of Representatives' Oversight Committee Chairwoman Carolyn Maloney and Coronavirus Crisis Committee Chairman James Clyburn wrote in a Sept. 8 letter to Treasury Department's inspector general.
(Reporting by David Shepardson; writing by Susan Heavey; Editing by Doina Chiacu)
((sheavey@thomsonreuters.com; +1-202-898-8300;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 9 (Reuters) - The leaders of two congressional committees want a federal probe into whether airlines used government pandemic money to fund pilot buyouts and early retirements that may have fueled current pilot shortages, according to a letter released on Friday. "As a result of pilot shortages, thousands of flights have been delayed or canceled, wreaking havoc on travel plans for millions of American taxpayers," House of Representatives' Oversight Committee Chairwoman Carolyn Maloney and Coronavirus Crisis Committee Chairman James Clyburn wrote in a Sept. 8 letter to Treasury Department's inspector general. (Reporting by David Shepardson; writing by Susan Heavey; Editing by Doina Chiacu) ((sheavey@thomsonreuters.com; +1-202-898-8300;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 9 (Reuters) - The leaders of two congressional committees want a federal probe into whether airlines used government pandemic money to fund pilot buyouts and early retirements that may have fueled current pilot shortages, according to a letter released on Friday. "As a result of pilot shortages, thousands of flights have been delayed or canceled, wreaking havoc on travel plans for millions of American taxpayers," House of Representatives' Oversight Committee Chairwoman Carolyn Maloney and Coronavirus Crisis Committee Chairman James Clyburn wrote in a Sept. 8 letter to Treasury Department's inspector general. (Reporting by David Shepardson; writing by Susan Heavey; Editing by Doina Chiacu) ((sheavey@thomsonreuters.com; +1-202-898-8300;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 9 (Reuters) - The leaders of two congressional committees want a federal probe into whether airlines used government pandemic money to fund pilot buyouts and early retirements that may have fueled current pilot shortages, according to a letter released on Friday. "As a result of pilot shortages, thousands of flights have been delayed or canceled, wreaking havoc on travel plans for millions of American taxpayers," House of Representatives' Oversight Committee Chairwoman Carolyn Maloney and Coronavirus Crisis Committee Chairman James Clyburn wrote in a Sept. 8 letter to Treasury Department's inspector general. (Reporting by David Shepardson; writing by Susan Heavey; Editing by Doina Chiacu) ((sheavey@thomsonreuters.com; +1-202-898-8300;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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WASHINGTON, Sept 9 (Reuters) - The leaders of two congressional committees want a federal probe into whether airlines used government pandemic money to fund pilot buyouts and early retirements that may have fueled current pilot shortages, according to a letter released on Friday. "As a result of pilot shortages, thousands of flights have been delayed or canceled, wreaking havoc on travel plans for millions of American taxpayers," House of Representatives' Oversight Committee Chairwoman Carolyn Maloney and Coronavirus Crisis Committee Chairman James Clyburn wrote in a Sept. 8 letter to Treasury Department's inspector general. (Reporting by David Shepardson; writing by Susan Heavey; Editing by Doina Chiacu) ((sheavey@thomsonreuters.com; +1-202-898-8300;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3270.0
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2022-09-09 00:00:00 UTC
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ANALYSIS-Rising costs fuel worries about U.S. airlines' heavy debt loads
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https://www.nasdaq.com/articles/analysis-rising-costs-fuel-worries-about-u.s.-airlines-heavy-debt-loads
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nan
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By Rajesh Kumar Singh
CHICAGO, Sept 9 (Reuters) - A scramble by U.S. carriers to fill empty cockpits is fueling cost pressures just as mounting economic worries have cast a shadow on travel demand, sparking concerns about debt-laden airlines' ability to repair their balance sheets.
Even as ticket sales remain strong, investors worry about consumer spending should the economy slip into recession. They fear carriers might be forced to borrow even more money to fund operations and further delay returning cash through share buybacks or dividends.
Some have stayed away from investing in the industry despite a rebound from the pandemic-induced slump, believing carriers do not have enough tools to offset cost pressures.
"Airline investors would be better off if the Wright Brothers' plane crashed and burned," said Act Two Investors Chairman Jeffrey Scharf, who follows the sector but does not currently own stocks in it.
"I can't think of a worse business – high fixed costs, commodity product, worsening service, alienated customers sick of being nickeled and dimed for every amenity."
For the traveling public, it could mean fewer and packed planes as airlines drive up revenue through higher ticket prices.
Reducing debt is a priority for an industry that went on a borrowing binge to survive the pandemic. The big three national carriers - American, United and Delta Airlines – had $85 billion in net long-term debt at the end of the second quarter. (Graphic: https://tmsnrt.rs/3Rt2qpp)
Airlines need strong and sustained profits to reduce those debt loads, but rising fuel and labor costs are making that difficult, analysts say.
United Airlines' UAL.O wage and fuel expense as a percentage of revenue is up by 10 points this year versus 2019. In the first six months of 2022, the company spent 59% of its revenue on wage and fuel bills. American Airlines AAL.O has had similar increases.
"These carriers have multi-year balance sheet repairs ahead of them," said aviation analyst Robert Mann. "Job No. 1 is going to be using free cash flow to pay down those increased debt levels."
Cost pressures are set to worsen as a pilot shortage at smaller, regional carriers means dramatic pay increases.
Mesa Air Group MESA.O, which operates flights for American and United, last month raised pilot salaries by as much as 172%.
That came days after CommutAir, a regional carrier partially owned by United, increased pilot wages by up to 40%. The increases were in response to American's decision in June to raise pilot salaries at regional affiliates by as much as 87%.(Graphic: https://tmsnrt.rs/3D18lOj)
The wage hikes have cost implications for the whole industry as it pressures rivals to offer similar increases.
National carriers are also expected to feel the pinch as regional partners look to pass along increased costs. Raymond James analysts estimate pay raises at regional airlines could increase non-fuel operating costs at national carriers by up to 3.3 percentage points.
Pilots at national carriers are also pushing for big wage increases.
United is renegotiating with its pilot union after some pilots expressed reservations with the last agreement that included a double-digit pay hike.
American's offer for pay increases of about 17% as well as higher per diem and training pay through 2024 - estimated to cost the company more than $2 billion - has failed to find favor with pilots.
Labor costs were the industry's biggest operating expense last year at about 35%. That figure is only down this year due to a run-up in fuel costs, but the hiring push is expected to inflate wage bills.
Meanwhile, costs are expected to remain high. United has projected a 2022 fuel bill $9 billion higher than in 2019.
PRICING POWER
Airlines have been relying on strong consumer demand and higher fares to mitigate inflationary pressure.
Investors are not sure carriers will have the same pricing power should consumer demand slow. And corporate travel - the industry's cash cow - has yet to recover to pre-pandemic levels.
"There's a big question about who's going to be flying, how often they're going to be flying and the price that they're going to be willing to pay," said Tim Ghriskey, senior portfolio strategist at investment advisory firm Ingalls & Snyder.
American and United on Wednesday played down demand concerns, saying there has been no slowdown in post-summer travel bookings.
American said it has surplus cash it plans to use for paying off debt. However, it is holding that cash due to economic uncertainty.
Investors also want the return of share buybacks and dividends. As part of the federal COVID-19 relief package, airlines have been prohibited from buying back their shares. That ban is set to expire this month.
Non-fuel cost pressures are expected to ease once carriers begin operating as many flights as they did before the pandemic.
Most airlines are planning to ramp up capacity next year. But Michael Wall, portfolio manager at investment management firm Westwood Group, warned that could backfire in a recession.
"Once the demand goes away, their pricing power goes away," he said.
GRAPHIC- Soaring pilot salarieshttps://tmsnrt.rs/3D18lOj
GRAPHIC- Airline debt levelshttps://tmsnrt.rs/3Rt2qpp
(Additional reporting by Allison Lampert in Montreal, editing by Ben Klayman and Bill Berkrot)
((rajeshkumar.singh@thomsonreuters.com; +1-313-484-5370; Reuters Messaging: rajeshkumar.singh.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O has had similar increases. By Rajesh Kumar Singh CHICAGO, Sept 9 (Reuters) - A scramble by U.S. carriers to fill empty cockpits is fueling cost pressures just as mounting economic worries have cast a shadow on travel demand, sparking concerns about debt-laden airlines' ability to repair their balance sheets. "I can't think of a worse business – high fixed costs, commodity product, worsening service, alienated customers sick of being nickeled and dimed for every amenity."
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American Airlines AAL.O has had similar increases. United Airlines' UAL.O wage and fuel expense as a percentage of revenue is up by 10 points this year versus 2019. Mesa Air Group MESA.O, which operates flights for American and United, last month raised pilot salaries by as much as 172%.
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American Airlines AAL.O has had similar increases. By Rajesh Kumar Singh CHICAGO, Sept 9 (Reuters) - A scramble by U.S. carriers to fill empty cockpits is fueling cost pressures just as mounting economic worries have cast a shadow on travel demand, sparking concerns about debt-laden airlines' ability to repair their balance sheets. Cost pressures are set to worsen as a pilot shortage at smaller, regional carriers means dramatic pay increases.
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American Airlines AAL.O has had similar increases. Pilots at national carriers are also pushing for big wage increases. Investors are not sure carriers will have the same pricing power should consumer demand slow.
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3271.0
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2022-09-08 00:00:00 UTC
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Boeing Stock Is A Better Pick Over This Aerospace & Defense Company
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https://www.nasdaq.com/articles/boeing-stock-is-a-better-pick-over-this-aerospace-defense-company
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We believe that Boeing stock (NYSE: BA) is currently a better pick than Raytheon Technologies stock (NYSE: RTX), given its better prospects. Although BA stock is trading at a comparatively lower valuation of 1.5x trailing revenues vs. 2.0x for Raytheon, this gap in the valuation of these two companies is justified given Raytheon’s superior revenue growth and profitability, as discussed below.
Looking at stock returns, Raytheon has fared better than BA and the broader indices. RTX stock is up 2% YTD, BA is down 25%, and the S&P500 index has declined 18%. While both companies will likely see top-line expansion over the coming years, Boeing is expected to outperform. There is more to the comparison, and in the sections below, we discuss why we believe BA stock will offer better returns than RTX stock in the next three years. We compare a slew of factors such as historical revenue growth, returns, and valuation multiple in an interactive dashboard analysis of Boeing vs. Raytheon Technologies: Which Stock Is A Better Bet? Parts of the analysis are summarized below.
1. Raytheon’s Revenue Growth Is Better
Raytheon’s revenue growth of 4.8% over the last twelve months is better than a 1.5% fall in Boeing’s sales.
Looking at a longer time frame, Boeing’s sales declined at an average rate of 13.7% to $62.3 billion in 2021, compared to $101.1 billion in 2018, while Raytheon saw its sales rise at an average growth rate of 23.1% to $64.4 billion in 2021, compared to $34.7 billion in 2018.
The revenue decline for Boeing can primarily be attributed to the impact of the 737 Max grounding in 2019 and the Covid-19 pandemic on the company’s businesses, given that commercial airlines was one of the worst-hit sectors during the coronavirus crisis.
Commercial Airplanes was the largest segment for Boeing, accounting for 57% of total sales in 2018, but the contribution dropped to 31% in 2021. Defense, Space & Security Systems is now the largest segment for the company, accounting for 42% of the total sales.
Boeing, over the recent past, has struggled to ramp up its production, impacting its deliveries. Supply chain disruption and labor issues for some of its suppliers further added to its woes.
Raytheon has undergone significant restructuring over recent years. United Technologies merged with Raytheon to form Raytheon Technologies in 2020. Furthermore, it spun off its OTIS and Carrier businesses, making Raytheon purely an aerospace and defense-focused company.
Raytheon’s commercial airplane business was also hit during the pandemic weighing on its commercial OEM and aftermarket sales.
However, there are near-term headwinds for both companies. The current high inflationary environment, rising interest rates, and fears of a slowing economy have weighed on the broader markets. Boeing is focused on increasing its overall production, and this, clubbed with its new orders, including a $13 billion order from Delta, will likely support its revenue growth.
Our Boeing Revenue and Raytheon Technologies Revenue dashboards provide more insight into the companies’ sales.
Looking forward, Boeing’s revenue is expected to grow faster than Raytheon’s over the next three years. The table below summarizes our revenue expectations for the two companies over the next three years. It points to a CAGR of 9.9% for Boeing, compared to just a 1.6% CAGR for Raytheon, based on Trefis Machine Learning analysis.
Note that we have different methodologies for companies that are negatively impacted by Covid and those that are not impacted or positively impacted by Covid while forecasting future revenues. For companies negatively affected by Covid, we consider the quarterly revenue recovery trajectory to forecast recovery to the pre-Covid revenue run rate. Beyond the recovery point, we apply the average annual growth observed three years before Covid to simulate a return to normal conditions. For companies registering positive revenue growth during Covid, we consider yearly average growth before Covid with a certain weight to growth during Covid and the last twelve months.
2. Raytheon Is More Profitable
Boeing’s operating margin of -2.7% over the last twelve months is far worse than 11.7% for Raytheon.
This compares with -1.6% and 16.2% figures seen in 2019, before the pandemic, respectively.
Raytheon’s free cash flow margin of 10.5% is also better than the -4.4% for Boeing.
Our Boeing Operating Income and Raytheon Technologies Operating Income dashboards have more details.
Looking at financial risk, Boeing’s 62.5% debt as a percentage of equity is much higher than 24.2% for Raytheon, while its 8.5% cash as a percentage of assets is higher than 3.0% for the latter, implying that Raytheon has a better debt position, but Boeing has more cash cushion.
3. The Net of It All
We see that Raytheon has demonstrated better revenue growth, is more profitable, and has a better debt position. On the other hand, Boeing has more cash cushion and is available at a relatively lower valuation.
Now, looking at prospects, using P/S as a base, due to high fluctuations in P/E and P/EBIT, we believe Boeing is currently the better choice of the two.
The table below summarizes our revenue and return expectation for both companies over the next three years and points to an expected return of 48% for Boeing over this period vs. a 4% expected return for Raytheon stock, implying that investors are better off buying BA over RTX, based on Trefis Machine Learning analysis – Boeing vs. Raytheon Technologies – which also provides more details on how we arrive at these numbers.
While BA stock looks like it can offer better returns over RTX stock, it is helpful to see how Boeing’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised at how counter-intuitive the stock valuation is for Vicor vs. Williams Sonoma.
With inflation rising and the Fed raising interest rates, among other factors, Boeing stock has fallen 25% this year. Can it drop more? See how low Boeing stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Sep 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
BA Return -5% -25% -2%
RTX Return -2% 2% -20%
S&P 500 Return -1% -18% 75%
Trefis Multi-Strategy Portfolio -2% -17% 228%
[1] Month-to-date and year-to-date as of 9/6/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We compare a slew of factors such as historical revenue growth, returns, and valuation multiple in an interactive dashboard analysis of Boeing vs. Raytheon Technologies: Which Stock Is A Better Bet? The revenue decline for Boeing can primarily be attributed to the impact of the 737 Max grounding in 2019 and the Covid-19 pandemic on the company’s businesses, given that commercial airlines was one of the worst-hit sectors during the coronavirus crisis. The current high inflationary environment, rising interest rates, and fears of a slowing economy have weighed on the broader markets.
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Looking at a longer time frame, Boeing’s sales declined at an average rate of 13.7% to $62.3 billion in 2021, compared to $101.1 billion in 2018, while Raytheon saw its sales rise at an average growth rate of 23.1% to $64.4 billion in 2021, compared to $34.7 billion in 2018. The table below summarizes our revenue and return expectation for both companies over the next three years and points to an expected return of 48% for Boeing over this period vs. a 4% expected return for Raytheon stock, implying that investors are better off buying BA over RTX, based on Trefis Machine Learning analysis – Boeing vs. Raytheon Technologies – which also provides more details on how we arrive at these numbers. Total [2] BA Return -5% -25% -2% RTX Return -2% 2% -20% S&P 500 Return -1% -18% 75% Trefis Multi-Strategy Portfolio -2% -17% 228% [1] Month-to-date and year-to-date as of 9/6/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although BA stock is trading at a comparatively lower valuation of 1.5x trailing revenues vs. 2.0x for Raytheon, this gap in the valuation of these two companies is justified given Raytheon’s superior revenue growth and profitability, as discussed below. Raytheon’s Revenue Growth Is Better Raytheon’s revenue growth of 4.8% over the last twelve months is better than a 1.5% fall in Boeing’s sales. The table below summarizes our revenue and return expectation for both companies over the next three years and points to an expected return of 48% for Boeing over this period vs. a 4% expected return for Raytheon stock, implying that investors are better off buying BA over RTX, based on Trefis Machine Learning analysis – Boeing vs. Raytheon Technologies – which also provides more details on how we arrive at these numbers.
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There is more to the comparison, and in the sections below, we discuss why we believe BA stock will offer better returns than RTX stock in the next three years. We compare a slew of factors such as historical revenue growth, returns, and valuation multiple in an interactive dashboard analysis of Boeing vs. Raytheon Technologies: Which Stock Is A Better Bet? The table below summarizes our revenue and return expectation for both companies over the next three years and points to an expected return of 48% for Boeing over this period vs. a 4% expected return for Raytheon stock, implying that investors are better off buying BA over RTX, based on Trefis Machine Learning analysis – Boeing vs. Raytheon Technologies – which also provides more details on how we arrive at these numbers.
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3272.0
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2022-09-08 00:00:00 UTC
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American Airlines (AAL) Gains But Lags Market: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-gains-but-lags-market%3A-what-you-should-know-4
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American Airlines (AAL) closed at $13.96 in the latest trading session, marking a +0.5% move from the prior day. The stock lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the world's largest airline had lost 7.83% in the past month. In that same time, the Transportation sector lost 3.51%, while the S&P 500 lost 3.79%.
Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. The company is expected to report EPS of $0.51, up 151.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.34 billion, up 48.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion. These totals would mark changes of +90.21% and +61.27%, respectively, from last year.
Any recent changes to analyst estimates for American Airlines should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 13.77% higher within the past month. American Airlines currently has a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names "Single Best Pick to Double"
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) closed at $13.96 in the latest trading session, marking a +0.5% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed at $13.96 in the latest trading session, marking a +0.5% move from the prior day. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines (AAL) closed at $13.96 in the latest trading session, marking a +0.5% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines (AAL) closed at $13.96 in the latest trading session, marking a +0.5% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Coming into today, shares of the world's largest airline had lost 7.83% in the past month.
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3273.0
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2022-09-08 00:00:00 UTC
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United Airlines invests $15 mln in Eve Air, orders 200 air taxis
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AAL
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https://www.nasdaq.com/articles/united-airlines-invests-%2415-mln-in-eve-air-orders-200-air-taxis
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nan
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Sept 8 (Reuters) - U.S. carrier United Airlines Holdings Inc UAL.O said on Thursday it would invest $15 million in air-taxi maker Eve Air Mobility and ordered 200 aircraft from the Embraer EMBR3.SA-owned startup.
The conditional deal for Eve's four-seater air taxi, or electric vertical take-off and landing vehicle (eVTOL), includes an option for 200 more. United did not specify the conditions.
Delivery of Eve's first aircraft, which has a range of 60 miles, is expected as early as 2026, United said.
Electric air-taxi makers have pitched themselves as an alternative transportation for people in cities suffering from congested roads, but they are yet to receive clearance to fly passengers.
Nevertheless, they have attracted interest from airlines who are looking to boost their own green credentials.
United Airlines said it is investing in Eve in part due to the air-taxi maker's relationship with aircraft maker Embraer, which can provide access to parts and services.
The deal with Eve Air is United's second air taxi bet. The airline has also invested in Archer Aviation Inc ACHR.N, with whom it put down a deposit of $10 million last month for 100 eVTOLs.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Krishna Chandra Eluri)
((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sept 8 (Reuters) - U.S. carrier United Airlines Holdings Inc UAL.O said on Thursday it would invest $15 million in air-taxi maker Eve Air Mobility and ordered 200 aircraft from the Embraer EMBR3.SA-owned startup. The conditional deal for Eve's four-seater air taxi, or electric vertical take-off and landing vehicle (eVTOL), includes an option for 200 more. Electric air-taxi makers have pitched themselves as an alternative transportation for people in cities suffering from congested roads, but they are yet to receive clearance to fly passengers.
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Sept 8 (Reuters) - U.S. carrier United Airlines Holdings Inc UAL.O said on Thursday it would invest $15 million in air-taxi maker Eve Air Mobility and ordered 200 aircraft from the Embraer EMBR3.SA-owned startup. The conditional deal for Eve's four-seater air taxi, or electric vertical take-off and landing vehicle (eVTOL), includes an option for 200 more. United Airlines said it is investing in Eve in part due to the air-taxi maker's relationship with aircraft maker Embraer, which can provide access to parts and services.
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Sept 8 (Reuters) - U.S. carrier United Airlines Holdings Inc UAL.O said on Thursday it would invest $15 million in air-taxi maker Eve Air Mobility and ordered 200 aircraft from the Embraer EMBR3.SA-owned startup. United Airlines said it is investing in Eve in part due to the air-taxi maker's relationship with aircraft maker Embraer, which can provide access to parts and services. The deal with Eve Air is United's second air taxi bet.
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Sept 8 (Reuters) - U.S. carrier United Airlines Holdings Inc UAL.O said on Thursday it would invest $15 million in air-taxi maker Eve Air Mobility and ordered 200 aircraft from the Embraer EMBR3.SA-owned startup. The conditional deal for Eve's four-seater air taxi, or electric vertical take-off and landing vehicle (eVTOL), includes an option for 200 more. Delivery of Eve's first aircraft, which has a range of 60 miles, is expected as early as 2026, United said.
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3274.0
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2022-09-08 00:00:00 UTC
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S.Africa's Amplats lowers output forecast amid smelter rebuild delay
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AAL
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https://www.nasdaq.com/articles/s.africas-amplats-lowers-output-forecast-amid-smelter-rebuild-delay
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nan
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Adds details
Sept 8 (Reuters) - South Africa's Anglo American Platinum AMSJ.J on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild.
Amplats, the world's number one producer of platinum group metals (PGM), said it expected refined output to be 3.7 million to 3.9 million PGM ounces, down from the previous guidance of 4.0 million to 4.4 million PGM ounces.
The company said the rebuild of its Polokwane smelter, for the first time in 12 years, would be delayed after internal quality checks had detected sub-standard materials that had been delivered for use in the project.
"Delivery of replacement materials will result in a two-month delay to the completion of the project. As a result, there will be a build-up in work-in-progress inventory in 2022 and a short-term timing impact to refined PGM production," Amplats said in a statement.
Amplats expects its unit costs to remain between 14,000 rand ($809.47) and 15,000 rand per PGM ounce, with sales being in the 3.7 - 3.9 million PGM ounce range, in line with refined production.
In July, Amplats reported a 43% fall in half-year profit, due to weaker PGM prices and lower volumes compared to record sales a year ago when the global economy started to emerge from COVID-19 lockdowns.
($1 = 17.2952 rand)
(Reporting by Nelson Banya; Editing by Edmund Blair and Tomasz Janowski)
((Nelson.Banya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds details Sept 8 (Reuters) - South Africa's Anglo American Platinum AMSJ.J on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild. The company said the rebuild of its Polokwane smelter, for the first time in 12 years, would be delayed after internal quality checks had detected sub-standard materials that had been delivered for use in the project. In July, Amplats reported a 43% fall in half-year profit, due to weaker PGM prices and lower volumes compared to record sales a year ago when the global economy started to emerge from COVID-19 lockdowns.
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Adds details Sept 8 (Reuters) - South Africa's Anglo American Platinum AMSJ.J on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild. Amplats, the world's number one producer of platinum group metals (PGM), said it expected refined output to be 3.7 million to 3.9 million PGM ounces, down from the previous guidance of 4.0 million to 4.4 million PGM ounces. Amplats expects its unit costs to remain between 14,000 rand ($809.47) and 15,000 rand per PGM ounce, with sales being in the 3.7 - 3.9 million PGM ounce range, in line with refined production.
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Adds details Sept 8 (Reuters) - South Africa's Anglo American Platinum AMSJ.J on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild. Amplats, the world's number one producer of platinum group metals (PGM), said it expected refined output to be 3.7 million to 3.9 million PGM ounces, down from the previous guidance of 4.0 million to 4.4 million PGM ounces. Amplats expects its unit costs to remain between 14,000 rand ($809.47) and 15,000 rand per PGM ounce, with sales being in the 3.7 - 3.9 million PGM ounce range, in line with refined production.
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Adds details Sept 8 (Reuters) - South Africa's Anglo American Platinum AMSJ.J on Thursday revised down its forecast for refined production in 2022 as it expects a two-month delay in completing its Polokwane smelter rebuild. Amplats, the world's number one producer of platinum group metals (PGM), said it expected refined output to be 3.7 million to 3.9 million PGM ounces, down from the previous guidance of 4.0 million to 4.4 million PGM ounces. The company said the rebuild of its Polokwane smelter, for the first time in 12 years, would be delayed after internal quality checks had detected sub-standard materials that had been delivered for use in the project.
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3275.0
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2022-09-07 00:00:00 UTC
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Workers at Chile's Escondida copper mine threaten to strike
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AAL
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https://www.nasdaq.com/articles/workers-at-chiles-escondida-copper-mine-threaten-to-strike
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nan
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nan
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Adds context, quotes
SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine's union said.
Unionized workers say that Escondida, the world's largest copper mine, has not responded to repeated complaints about potential safety risks.
Chile's President Gabriel Boric said last month he wants to ratify an International Labor Organization convention on health and safety in mines, after two workers died on a mining construction project in July and a giant sinkhole more recently opened up near a copper mine.
In a statement the union said it contacted "Minera Escondida-BHP demanding the resolution of multiple non-compliances, infractions and sustained violations, requesting the start of talks to resolve them promptly."
The union added it "will hold a vote that concludes tonight, to decide on the start of partial strikes and then an indefinite strike, if the situation is not resolved."
The company did not immediately respond to a request for comment.
(Reporting by Fabian Cambero; Editing by Anthony Esposito and Aurora Ellis)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds context, quotes SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine's union said. Unionized workers say that Escondida, the world's largest copper mine, has not responded to repeated complaints about potential safety risks. In a statement the union said it contacted "Minera Escondida-BHP demanding the resolution of multiple non-compliances, infractions and sustained violations, requesting the start of talks to resolve them promptly."
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Adds context, quotes SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine's union said. Unionized workers say that Escondida, the world's largest copper mine, has not responded to repeated complaints about potential safety risks. Chile's President Gabriel Boric said last month he wants to ratify an International Labor Organization convention on health and safety in mines, after two workers died on a mining construction project in July and a giant sinkhole more recently opened up near a copper mine.
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Adds context, quotes SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine's union said. Unionized workers say that Escondida, the world's largest copper mine, has not responded to repeated complaints about potential safety risks. Chile's President Gabriel Boric said last month he wants to ratify an International Labor Organization convention on health and safety in mines, after two workers died on a mining construction project in July and a giant sinkhole more recently opened up near a copper mine.
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Adds context, quotes SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine in northern Chile threatened on Wednesday to go on strike over what they described as safety concerns, the mine's union said. In a statement the union said it contacted "Minera Escondida-BHP demanding the resolution of multiple non-compliances, infractions and sustained violations, requesting the start of talks to resolve them promptly." The union added it "will hold a vote that concludes tonight, to decide on the start of partial strikes and then an indefinite strike, if the situation is not resolved."
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3276.0
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2022-09-07 00:00:00 UTC
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Workers at Chile's Escondida copper mine threaten to go on strike
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AAL
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https://www.nasdaq.com/articles/workers-at-chiles-escondida-copper-mine-threaten-to-go-on-strike
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nan
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nan
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SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine located in northern Chile on Wednesday threatened to go on strike over what they described as safety concerns.
(Reporting by Fabian Cambero; Editing by Anthony Esposito)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine located in northern Chile on Wednesday threatened to go on strike over what they described as safety concerns. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine located in northern Chile on Wednesday threatened to go on strike over what they described as safety concerns. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine located in northern Chile on Wednesday threatened to go on strike over what they described as safety concerns. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Sept 7 (Reuters) - Workers at BHP's BHP.AX sprawling Escondida copper mine located in northern Chile on Wednesday threatened to go on strike over what they described as safety concerns. (Reporting by Fabian Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3277.0
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2022-09-06 00:00:00 UTC
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United Airlines threatens to drop JFK service if U.S. does not approve more flights
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AAL
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https://www.nasdaq.com/articles/united-airlines-threatens-to-drop-jfk-service-if-u.s.-does-not-approve-more-flights-0
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nan
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By David Shepardson
WASHINGTON, Sept 6 (Reuters) - United Airlines UAL.O said on Tuesday it plans to end service in October to New York's John F. Kennedy Airport (JFK) if the Federal Aviation Administration (FAA) does not grant the air carrier additional flights.
United Chief Executive Scott Kirby wrote to Acting FAA Administrator Billy Nolen last week to urge him to increase capacity at JFK, according to an email Tuesday by the airline to employees that was seen by Reuters.
United is flying just twice daily to San Francisco and Los Angeles from JFK, the busiest New York-area airport, after resuming service in 2021.
"If we are not able to get additional allocations for multiple seasons, we will need to suspend service at JFK, effective at the end of October," United's email said.
The FAA said in a statement Tuesday it "must consider airspace capacity and runway capacity to assess how changes would affect flights at nearby airports. Any additional slots at JFK would follow the FAA's well-established process of awarding them fairly and to increase competition."
United said it had been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and market at JFK "so that we can grow to be more competitive" and said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O.
United in 2015 struck a long-term deal to lease 24 year-round slots at JFK to Delta Air Lines DAL.N as it ended JFK service to concentrate at its nearby Newark hub in northern New Jersey.
United argues there is room to grow at JFK, the 13th-busiest U.S. airport, because the FAA and the Port Authority since 2008 have made significant infrastructure investments including "the widening of runways, construction of multi-entrance taxiways, and the creation of aligned high-speed turnoffs."
In June, the FAA approved United's request to temporarily cut about 50 daily summer departures from its Newark airport hub to address congestion, representing 12% of United's 425 daily flights at Newark. United is the dominant carrier at Newark, operating 69% of flights.
(Reporting by David Shepardson; Editing by Muralikumar Anantharaman and Gerry Doyle)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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United said it had been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and market at JFK "so that we can grow to be more competitive" and said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 6 (Reuters) - United Airlines UAL.O said on Tuesday it plans to end service in October to New York's John F. Kennedy Airport (JFK) if the Federal Aviation Administration (FAA) does not grant the air carrier additional flights. United Chief Executive Scott Kirby wrote to Acting FAA Administrator Billy Nolen last week to urge him to increase capacity at JFK, according to an email Tuesday by the airline to employees that was seen by Reuters.
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United said it had been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and market at JFK "so that we can grow to be more competitive" and said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 6 (Reuters) - United Airlines UAL.O said on Tuesday it plans to end service in October to New York's John F. Kennedy Airport (JFK) if the Federal Aviation Administration (FAA) does not grant the air carrier additional flights. "If we are not able to get additional allocations for multiple seasons, we will need to suspend service at JFK, effective at the end of October," United's email said.
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United said it had been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and market at JFK "so that we can grow to be more competitive" and said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 6 (Reuters) - United Airlines UAL.O said on Tuesday it plans to end service in October to New York's John F. Kennedy Airport (JFK) if the Federal Aviation Administration (FAA) does not grant the air carrier additional flights. In June, the FAA approved United's request to temporarily cut about 50 daily summer departures from its Newark airport hub to address congestion, representing 12% of United's 425 daily flights at Newark.
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United said it had been working to pursue additional slots - which are takeoff and landing authorizations - through the FAA and market at JFK "so that we can grow to be more competitive" and said without permanent slots it cannot serve JFK "effectively compared to the larger schedules and more attractive flight times flown by our competitors" like JetBlue Airways JBLU.O and American Airlines AAL.O. By David Shepardson WASHINGTON, Sept 6 (Reuters) - United Airlines UAL.O said on Tuesday it plans to end service in October to New York's John F. Kennedy Airport (JFK) if the Federal Aviation Administration (FAA) does not grant the air carrier additional flights. United Chief Executive Scott Kirby wrote to Acting FAA Administrator Billy Nolen last week to urge him to increase capacity at JFK, according to an email Tuesday by the airline to employees that was seen by Reuters.
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3278.0
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2022-09-06 00:00:00 UTC
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American Airlines (AAL) Gains As Market Dips: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-gains-as-market-dips%3A-what-you-should-know-3
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nan
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nan
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American Airlines (AAL) closed the most recent trading day at $13.22, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 0.1%.
Prior to today's trading, shares of the world's largest airline had lost 13.52% over the past month. This has lagged the Transportation sector's loss of 4.48% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. In that report, analysts expect American Airlines to post earnings of $0.51 per share. This would mark year-over-year growth of 151.52%. Meanwhile, our latest consensus estimate is calling for revenue of $13.34 billion, up 48.74% from the prior-year quarter.
AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. These results would represent year-over-year changes of +90.21% and +61.27%, respectively.
It is also important to note the recent changes to analyst estimates for American Airlines. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.77% higher. American Airlines is holding a Zacks Rank of #3 (Hold) right now.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. American Airlines (AAL) closed the most recent trading day at $13.22, moving +1.77% from the previous trading session. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed the most recent trading day at $13.22, moving +1.77% from the previous trading session.
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American Airlines (AAL) closed the most recent trading day at $13.22, moving +1.77% from the previous trading session. AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion. American Airlines Group Inc. (AAL): Free Stock Analysis Report
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed the most recent trading day at $13.22, moving +1.77% from the previous trading session. AAL's full-year Zacks Consensus Estimates are calling for earnings of -$0.82 per share and revenue of $48.19 billion.
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3279.0
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2022-09-05 00:00:00 UTC
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Chile peso sails higher after voters reject new constitution
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AAL
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https://www.nasdaq.com/articles/chile-peso-sails-higher-after-voters-reject-new-constitution
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nan
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nan
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Adds peso move, comments, background, updates prices
LONDON, Sept 5 (Reuters) - Chile's peso soared to its strongest level in nearly three months on Monday after Chileans rejected a proposed new constitution in a move widely expected by analysts to be positive for the country's financial markets.
Chileans voted overwhelmingly on Sunday to reject what would have been one of the world's most progressive charters, that would have marked a sharp shift from its market-friendly constitution dating back to the Augusto Pinochet dictatorship.
The country's currency strengthened more than 4% against the dollar as local markets opened to touch 838.20 CLP=, levels last seen on June 10, Refinitiv pricing data showed. Giving away some of its early gains, the currency last changed hands at 846.90.
"The outcome may force a more moderate and gradual reform impulse," said JPMorgan's Diego Pereira in a note to clients, adding that he expected positive market momentum thanks to less uncertainty and lower risk premia ahead.
"We believe both real and financial investors would prefer that if the current constitution has to be reformed, it’s done by the Congress or a committee of notables."
London-listed miner Antofagasta ANTO.L saw its shares gain 3.4% on Monday, outpacing gains in the STOXX Basic Resources Index .SXPP, which was up 1%.
Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta.
Chile's peso CLP= has fallen some 3% since the start of the year, making it an outlier in the Latin America region, which has seen currencies from Brazil's real BRL=, Peru's sol PEN= and Mexico's peso MXN= chalk up solid gains in 2022.
(Reporting by Karin Strohecker; Editing by Andrea Ricci and Jan Harvey)
((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. Chileans voted overwhelmingly on Sunday to reject what would have been one of the world's most progressive charters, that would have marked a sharp shift from its market-friendly constitution dating back to the Augusto Pinochet dictatorship. The country's currency strengthened more than 4% against the dollar as local markets opened to touch 838.20 CLP=, levels last seen on June 10, Refinitiv pricing data showed.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. Adds peso move, comments, background, updates prices LONDON, Sept 5 (Reuters) - Chile's peso soared to its strongest level in nearly three months on Monday after Chileans rejected a proposed new constitution in a move widely expected by analysts to be positive for the country's financial markets. The country's currency strengthened more than 4% against the dollar as local markets opened to touch 838.20 CLP=, levels last seen on June 10, Refinitiv pricing data showed.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. Adds peso move, comments, background, updates prices LONDON, Sept 5 (Reuters) - Chile's peso soared to its strongest level in nearly three months on Monday after Chileans rejected a proposed new constitution in a move widely expected by analysts to be positive for the country's financial markets. London-listed miner Antofagasta ANTO.L saw its shares gain 3.4% on Monday, outpacing gains in the STOXX Basic Resources Index .SXPP, which was up 1%.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. Adds peso move, comments, background, updates prices LONDON, Sept 5 (Reuters) - Chile's peso soared to its strongest level in nearly three months on Monday after Chileans rejected a proposed new constitution in a move widely expected by analysts to be positive for the country's financial markets. Chileans voted overwhelmingly on Sunday to reject what would have been one of the world's most progressive charters, that would have marked a sharp shift from its market-friendly constitution dating back to the Augusto Pinochet dictatorship.
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3280.0
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2022-09-05 00:00:00 UTC
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Chileans rejecting new constitution set to lift markets -JPMorgan
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AAL
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https://www.nasdaq.com/articles/chileans-rejecting-new-constitution-set-to-lift-markets-jpmorgan
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nan
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nan
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LONDON, Sept 5 (Reuters) - Chileans rejecting a proposed new constitution should be positive for the country's assets, Wall Street bank JPMorgan said in a note to clients.
Chileans overwhelmingly voted against a proposed new constitution on Sunday, rejecting what would have been one of the world's most progressive charters that would have marked a sharp shift from its market-friendly constitution dating back to the Augusto Pinochet dictatorship.
"In our view, the plebiscite outcome should positively impact markets," said JPMorgan's Diego Pereira.
This was due to less uncertainty and lower risk premia ahead with expectations that the outcome may force a more moderate and gradual reform impulse, Pereira added.
"We believe both real and financial investors would prefer that if the current constitution has to be reformed, it’s done by the Congress or a committee of notables."
London-listed miner Antofagasta ANTO.L saw its shares gain around 2% on Monday, outpacing gains in the STOXX Basic Resources Index .SXPP, which was up 0.8%.
Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta.
Chile's peso CLP= has fallen some 3% since the start of the year, making it an outlier in the Latin America region which has seen currencies from Brazil's real BRL=, Peru's sol PEN= and Mexico's peso MXN= chalk up solid gains in 2022.
(Reporting by Karin Strohecker; Editing by Andrea Ricci)
((karin.strohecker@thomsonreuters.com; +442075427262; Reuters Messaging: karin.strohecker.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. LONDON, Sept 5 (Reuters) - Chileans rejecting a proposed new constitution should be positive for the country's assets, Wall Street bank JPMorgan said in a note to clients. This was due to less uncertainty and lower risk premia ahead with expectations that the outcome may force a more moderate and gradual reform impulse, Pereira added.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. LONDON, Sept 5 (Reuters) - Chileans rejecting a proposed new constitution should be positive for the country's assets, Wall Street bank JPMorgan said in a note to clients. "In our view, the plebiscite outcome should positively impact markets," said JPMorgan's Diego Pereira.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. LONDON, Sept 5 (Reuters) - Chileans rejecting a proposed new constitution should be positive for the country's assets, Wall Street bank JPMorgan said in a note to clients. Chileans overwhelmingly voted against a proposed new constitution on Sunday, rejecting what would have been one of the world's most progressive charters that would have marked a sharp shift from its market-friendly constitution dating back to the Augusto Pinochet dictatorship.
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Chile is the world's top copper producer and is home to global copper giants like Codelco, BHP BHP.AX, Anglo American AAL.L and Glencore GLEN.L as well as Antofagasta. LONDON, Sept 5 (Reuters) - Chileans rejecting a proposed new constitution should be positive for the country's assets, Wall Street bank JPMorgan said in a note to clients. "In our view, the plebiscite outcome should positively impact markets," said JPMorgan's Diego Pereira.
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3281.0
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2022-09-02 00:00:00 UTC
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What Awaits U.S. Airlines This Labor Day Travel Period?
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AAL
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https://www.nasdaq.com/articles/what-awaits-u.s.-airlines-this-labor-day-travel-period
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nan
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nan
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The easing of coronavirus-related restrictions spurred air-travel demand hugely. Given this scenario of demand surge, passenger volumes are likely to go through the roof, this Labor Day weekend. According to many market watchers, the number of passengers traveling by air over the extended weekend (Labor Day is on Sep 5, the first Monday of September) is likely to reach the pre-pandemic levels or may even exceed the same, setting new records in turn. Travel during the Labor Day period generally marks the end of summer travel.
According to data from the travel booking app Hopper, 12.6 million passengers are estimated to fly in the Sep 1- Sep 5 time frame. This averages to 2.5 million travelers per day over the period. Considering this, it can be assumed that U.S. airlines will be extremely busy during this five-day period.
Management at United Airlines UAL reportedly expects 2.6 million people to travel with the airline in the Sep 1-Sep 6 time frame. If this forecast comes true, the passenger volume on UAL flights will nearly match the three-year-old Labor Day weekend figures of the pre-coronavirus era. It will be 20% more than the 2021 actuals.
American Airlines AAL, currently carrying a Zacks Rank #3 (Hold), expects to operate 26,400 scheduled flights over the Labor Day weekend, ferrying 2.5 million passengers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Delta Air Lines DAL anticipates to transport 2 .9 million passengers on its flights in the Sep 1-Sep 6 period. DAL intends to operate more than 25,000 flights, globally, during the period. This expected figure is more than the 2.5 million passengers, who had boarded DAL flights in the Labor Day period last year and a little less than the passenger count of 3.1 million, three years ago.
This expected surge in air-traffic during the period is highly encouraging given that the U.S. airlines are facing a plethora of challenges, which might impact air-travel during this busy period. Let’s have a look at the challenges.
U.S. airlines are currently short-staffed. With the aviation stocks trimming their labor force substantially during the peak of the pandemic, the airline industry is grappling with staffing crunch as demand bounces back. This is disrupting operations and resulting in multiple flight cancellations. However, during this Labor Day holiday period, most U.S. airlines are guaranteeing passengers — hit by flight delay or cancellation due to an airline issue — meals and hotel accommodations. The U.S. Department of Transportation launched a website to help the above passengers.
Moreover, mainly due to high fuel costs, air fares are northbound, meaning that travel during the Labor Day will be anything but pocket-friendly. Per data from Hopper, ticket prices for domestic travel during this period will be 23% more than last year’s and 20% more than the comparable period’s level, three years ago.
The expectation of high passenger volumes during the Labor Day holiday period, despite the above challenges, means that the already strong passenger revenues of U.S. airlines would be further strengthened, in turn aiding the third-quarter 2022 results. Let’s look back at the second-quarter results of airline heavyweights like American Airlines, United Airlines and Delta to highlight the passenger revenue strength.
American Airlines’ second-quarter 2022 earnings (excluding 8 cents from non-recurring items) of 76 cents per share fell short of the Zacks Consensus Estimate of 79 cents. AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario.
Operating revenues of $13,422 million skyrocketed 79.5% year over year and also surpassed the Zacks Consensus Estimate of $13,409.8 million. This massive year-over-year jump reflects upbeat air-travel demand. Passenger revenues, accounting for the bulk of the top line (91.1%), increased to $12,223 million from $6,545 million a year ago.
Driven by soaring demand, as evidenced by the healthy scenario with respect to bookings, management expects AAL to deliver a profit in the September quarter too. Total revenues in the third quarter of 2022 are anticipated to be roughly 10-12% higher than the level recorded in third-quarter 2019. Management expects unit revenues to be 20-24% higher than the third-quarter 2019 actuals.
United Airlines’ second-quarter 2022 earnings (excluding 43 cents from non-recurring items) of $1.43 per share fell short of the Zacks Consensus Estimate of $1.86. In the year-ago quarter, UAL incurred a loss of $3.91 per share when air-travel demand was not as buoyant as in the current scenario. The second quarter of 2022 was the first profitable quarter at UAL since the onset of the pandemic.
Operating revenues of $12,112 million beat the Zacks Consensus Estimate of $12,033.7 million and increased more than 100% year over year owing to upbeat air-travel demand. The optimistic air-travel demand scenario is also evident from the fact that total operating revenues increased 6.2% from second-quarter 2019 levels. Total operating revenues in the third quarter are likely to increase 11% from the September-quarter level of 2019.
Delta's earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. In the year-ago quarter, Delta incurred a loss of $1.07 per share. DAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million but also soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows.
The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets. The buoyant air-travel demand scenario is also evident from the fact that total operating revenues at Delta increased 10% from the second-quarter 2019 levels. DAL management expects total revenues for third-quarter 2022 to increase in the 1-5% band from the third-quarter 2019 levels.
A strong Labor Day performance, which seems likely, would help AAL, UAL and DAL achieve (or even exceed) the bullish top line projections for the third quarter of 2022.
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Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
American Airlines AAL, currently carrying a Zacks Rank #3 (Hold), expects to operate 26,400 scheduled flights over the Labor Day weekend, ferrying 2.5 million passengers. AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario. Driven by soaring demand, as evidenced by the healthy scenario with respect to bookings, management expects AAL to deliver a profit in the September quarter too.
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American Airlines AAL, currently carrying a Zacks Rank #3 (Hold), expects to operate 26,400 scheduled flights over the Labor Day weekend, ferrying 2.5 million passengers. AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario. Driven by soaring demand, as evidenced by the healthy scenario with respect to bookings, management expects AAL to deliver a profit in the September quarter too.
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American Airlines AAL, currently carrying a Zacks Rank #3 (Hold), expects to operate 26,400 scheduled flights over the Labor Day weekend, ferrying 2.5 million passengers. AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario. Driven by soaring demand, as evidenced by the healthy scenario with respect to bookings, management expects AAL to deliver a profit in the September quarter too.
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American Airlines AAL, currently carrying a Zacks Rank #3 (Hold), expects to operate 26,400 scheduled flights over the Labor Day weekend, ferrying 2.5 million passengers. AAL incurred a loss of $1.69 per share when air-travel demand was not as buoyant as in the current scenario. Driven by soaring demand, as evidenced by the healthy scenario with respect to bookings, management expects AAL to deliver a profit in the September quarter too.
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3282.0
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2022-09-02 00:00:00 UTC
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Chilean copper production falls in July -Cochilco
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AAL
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https://www.nasdaq.com/articles/chilean-copper-production-falls-in-july-cochilco
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nan
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nan
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SANTIAGO, Sept 2 (Reuters) - Chile's copper production from state-owned giant Codelco fell 6.5% in July to reach 128,000 tonnes, government body Cochilco said on Friday.
Production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, dropped 12.4% on a year-on-year basis to 47,300 tonnes.
Copper output from Escondida, which is controlled by Australian mining giant , fell 1.8% to 81,400 tonnes, Cochilco said.
(Reporting by Fabian Cambero)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, dropped 12.4% on a year-on-year basis to 47,300 tonnes. SANTIAGO, Sept 2 (Reuters) - Chile's copper production from state-owned giant Codelco fell 6.5% in July to reach 128,000 tonnes, government body Cochilco said on Friday. Copper output from Escondida, which is controlled by Australian mining giant , fell 1.8% to 81,400 tonnes, Cochilco said.
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Production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, dropped 12.4% on a year-on-year basis to 47,300 tonnes. SANTIAGO, Sept 2 (Reuters) - Chile's copper production from state-owned giant Codelco fell 6.5% in July to reach 128,000 tonnes, government body Cochilco said on Friday. Copper output from Escondida, which is controlled by Australian mining giant , fell 1.8% to 81,400 tonnes, Cochilco said.
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Production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, dropped 12.4% on a year-on-year basis to 47,300 tonnes. SANTIAGO, Sept 2 (Reuters) - Chile's copper production from state-owned giant Codelco fell 6.5% in July to reach 128,000 tonnes, government body Cochilco said on Friday. Copper output from Escondida, which is controlled by Australian mining giant , fell 1.8% to 81,400 tonnes, Cochilco said.
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Production at Collahuasi, a joint venture of Anglo American AAL.L and Glencore GLEN.N, dropped 12.4% on a year-on-year basis to 47,300 tonnes. SANTIAGO, Sept 2 (Reuters) - Chile's copper production from state-owned giant Codelco fell 6.5% in July to reach 128,000 tonnes, government body Cochilco said on Friday. Copper output from Escondida, which is controlled by Australian mining giant , fell 1.8% to 81,400 tonnes, Cochilco said.
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3283.0
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2022-09-01 00:00:00 UTC
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U.S. says airlines commit to 'significant changes' to customer service plans
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AAL
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https://www.nasdaq.com/articles/u.s.-says-airlines-commit-to-significant-changes-to-customer-service-plans
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nan
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nan
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WASHINGTON, Sept 1 (Reuters) - The Transportation Department (USDOT) said Thursday the largest U.S. airlines had made "significant changes" to customer service plans with nearly all agreeing to offer passengers meals and overnight stays for delays within their control.
Reuters first reported Wednesday many of the changes to the customer service plans that came after Secretary Pete Buttigieg told airlines on Aug. 19 that he would publish a "dashboard" comparing customer protections airlines were committing to offer ahead of the busy U.S. Labor Day travel weekend.
USDOT said the changes came after Buttigieg's urging -- and 9 of the 10 largest U.S. airlines made "significant changes to their plans to improve services provided to passengers."
The 10 largest carriers account for 96% of domestic flights.
Airlines have canceled or delayed tens of thousands of flights this summer as they cut flights and struggled to ramp up staffing as demand returned from historic lows that resulted from the impact of the COVID-19 pandemic.
Buttigieg said in the first six months, roughly 24% of U.S. airlines domestic flights were delayed and 3.2% were canceled.
American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O and JetBlue Airways JBLU.O received checkmarks in all five categories for both delayed and canceled flights for issues within their control.
The categories include meal vouchers for three-hour delays, providing hotels and paying for transportation to lodging for stranded passengers and rebooking passengers on the same or another airline.
Ultra low cost carrier Allegiant ALGT.O did not receive any checkmarks and did not immediately comment. Both Alaska Airlines ALK.N and Southwest Airlines LUV.N received four checkmarks out of five, while Spirit SAVE.N got three and Frontier two.
Airlines downplayed changes arguing they largely already had policies in place -- even if they were not detailed in customer-facing plans. USDOT said airlines incorporating them into those plans makes them enforceable and easy for passengers to access.
USDOT said it "will hold airlines accountable if they fail to provide the promised services" and it has not ruled out writing regulations to mandate the customer amenities. USDOT is also writing other customer service regulations.
Trade group Airlines for America said it welcomes "opportunities to simplify, clarify and increase transparency for travelers."
Delta said "we’ve updated some of our language to be explicitly clear about the services and amenities we provide customers when they are inconvenienced."
USDOT said "no airline unconditionally guaranteed meal vouchers or hotels" before Buttigieg's letter. Now nine out of ten had committed to offering meal vouchers - with Allegiant the exception - and all but Allegiant and Frontier committed to providing hotel accommodation.
(Reporting by David Shepardson; Editing by Simon Cameron-Moore)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O and JetBlue Airways JBLU.O received checkmarks in all five categories for both delayed and canceled flights for issues within their control. WASHINGTON, Sept 1 (Reuters) - The Transportation Department (USDOT) said Thursday the largest U.S. airlines had made "significant changes" to customer service plans with nearly all agreeing to offer passengers meals and overnight stays for delays within their control. USDOT said the changes came after Buttigieg's urging -- and 9 of the 10 largest U.S. airlines made "significant changes to their plans to improve services provided to passengers."
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American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O and JetBlue Airways JBLU.O received checkmarks in all five categories for both delayed and canceled flights for issues within their control. WASHINGTON, Sept 1 (Reuters) - The Transportation Department (USDOT) said Thursday the largest U.S. airlines had made "significant changes" to customer service plans with nearly all agreeing to offer passengers meals and overnight stays for delays within their control. USDOT said the changes came after Buttigieg's urging -- and 9 of the 10 largest U.S. airlines made "significant changes to their plans to improve services provided to passengers."
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American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O and JetBlue Airways JBLU.O received checkmarks in all five categories for both delayed and canceled flights for issues within their control. WASHINGTON, Sept 1 (Reuters) - The Transportation Department (USDOT) said Thursday the largest U.S. airlines had made "significant changes" to customer service plans with nearly all agreeing to offer passengers meals and overnight stays for delays within their control. Reuters first reported Wednesday many of the changes to the customer service plans that came after Secretary Pete Buttigieg told airlines on Aug. 19 that he would publish a "dashboard" comparing customer protections airlines were committing to offer ahead of the busy U.S. Labor Day travel weekend.
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American Airlines AAL.O, Delta Air Lines DAL.N, United Airlines UAL.O and JetBlue Airways JBLU.O received checkmarks in all five categories for both delayed and canceled flights for issues within their control. USDOT said the changes came after Buttigieg's urging -- and 9 of the 10 largest U.S. airlines made "significant changes to their plans to improve services provided to passengers." The 10 largest carriers account for 96% of domestic flights.
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3284.0
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2022-08-31 00:00:00 UTC
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U.S. states ask Congress for more airline oversight authority
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AAL
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https://www.nasdaq.com/articles/u.s.-states-ask-congress-for-more-airline-oversight-authority
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By David Shepardson
WASHINGTON, Aug 31 (Reuters) - U.S. states and federal agencies should have new powers to investigate airline passengers complaints, a bipartisan group of 36 state attorneys general said Wednesday sharply criticizing air carriers and the Transportation Department (USDOT).
Passenger airlines are exempt from Federal Trade Commission (FTC) oversight and most state investigations for consumer complaints under a 1958 law. The state attorneys general are asking Congress to pass legislationgranting them new authority to holdair carriers accountable.
In a letter to Congress led by Republican Arizona Attorney General Mark Brnovich and Democratic Colorado Attorney General Phil Weiser and also signed by the District of Columbia and Guam, the states said they have received thousands of complaints from outraged airline passengers, and have relayed them to USDOT but seen little action.
"Americans are justifiably frustrated that federal government agencies charged with overseeing airline consumer protection are unable or unwilling to hold the airline industry
accountable and to swiftly investigate complaints," the letter said.
A spokesperson for Transportation Secretary Pete Buttigieg did not immediately comment. Buttigieg has been pressing airlines to improve consumer service and told Reuters earlier this month that USDOT had completed 10 airline investigations and is pursuing enforcement actions.
Airlines for America, a group representing major airlines, did not immediately comment.
The states encouraged Congress "to consider shifting the authority for federal investigations of patron complaints concerning airlines from the USDOT to an agency more primarily focused on consumer protection" like the FTC or the Justice Department."
Airlines, which received $52 billion in pandemic bailout assistance, have been criticized for slow refunds. "The airline industry has failed their customers," the letter said.
Earlier this month, two key U.S. House Democrats proposed making it unlawful for airlines to offer flights if they know they lack sufficient staff or to cancel flights close to scheduled departures because of foreseeable staffing issues. Representatives Jan Schakowsky and David Cicilline proposed giving the FTC and state attorneys general new powers to act.
"Stronger enforcement of the airline industry is urgently needed," said Schakowsky. "The airline industry must be held accountable for the harm they are causing."
(Reporting by David Shepardson Editing by Chris Reese and Josie Kao)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Passenger airlines are exempt from Federal Trade Commission (FTC) oversight and most state investigations for consumer complaints under a 1958 law. The states encouraged Congress "to consider shifting the authority for federal investigations of patron complaints concerning airlines from the USDOT to an agency more primarily focused on consumer protection" like the FTC or the Justice Department." Representatives Jan Schakowsky and David Cicilline proposed giving the FTC and state attorneys general new powers to act.
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By David Shepardson WASHINGTON, Aug 31 (Reuters) - U.S. states and federal agencies should have new powers to investigate airline passengers complaints, a bipartisan group of 36 state attorneys general said Wednesday sharply criticizing air carriers and the Transportation Department (USDOT). Buttigieg has been pressing airlines to improve consumer service and told Reuters earlier this month that USDOT had completed 10 airline investigations and is pursuing enforcement actions. Representatives Jan Schakowsky and David Cicilline proposed giving the FTC and state attorneys general new powers to act.
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By David Shepardson WASHINGTON, Aug 31 (Reuters) - U.S. states and federal agencies should have new powers to investigate airline passengers complaints, a bipartisan group of 36 state attorneys general said Wednesday sharply criticizing air carriers and the Transportation Department (USDOT). In a letter to Congress led by Republican Arizona Attorney General Mark Brnovich and Democratic Colorado Attorney General Phil Weiser and also signed by the District of Columbia and Guam, the states said they have received thousands of complaints from outraged airline passengers, and have relayed them to USDOT but seen little action. "Americans are justifiably frustrated that federal government agencies charged with overseeing airline consumer protection are unable or unwilling to hold the airline industry accountable and to swiftly investigate complaints," the letter said.
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By David Shepardson WASHINGTON, Aug 31 (Reuters) - U.S. states and federal agencies should have new powers to investigate airline passengers complaints, a bipartisan group of 36 state attorneys general said Wednesday sharply criticizing air carriers and the Transportation Department (USDOT). "Americans are justifiably frustrated that federal government agencies charged with overseeing airline consumer protection are unable or unwilling to hold the airline industry accountable and to swiftly investigate complaints," the letter said. Representatives Jan Schakowsky and David Cicilline proposed giving the FTC and state attorneys general new powers to act.
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3285.0
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2022-08-31 00:00:00 UTC
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U.S. airlines commit to providing meals, hotel rooms for extended delays they caused
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-commit-to-providing-meals-hotel-rooms-for-extended-delays-they-caused
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By David Shepardson
WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control.
American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways JBLU.O and others detailed commitments in customer service plans they updated this week at USDOT's prompting. Many airlines have previously offered vouchers or hotel rooms for delays they caused but did not spell out commitments in customer service plans.
Transportation Secretary Pete Buttigieg said on Aug. 19 that he would publish by Friday, ahead of the busy Labor Day holiday travel weekend, an "interactive dashboard" for air travelers to compare services each large U.S. airline provides when the cancellation or delay was due to circumstances within the airline’s control. Buttigieg had written airline chief executives asking them "at a minimum" to provide meal vouchers for delays of three hours or more and lodging for those who must wait overnight because of disruptions within the carrier’s control.
Buttigieg also warned USDOT is "contemplating options" to write new rules "that would further expand the rights of airline passengers."
In the past, some airline customers had to know to ask for vouchers or hotels from airlines.
Some airlines said in updated customer service plans that if they cannot find a hotel room, they will provide a voucher or reimburse stranded passenger if they find a reasonably priced room on their own and will reimburse them for transportation.
Southwest Airlines said if meal vouchers are not available for a three-hour airport delay under its control they would honor reasonable requests for reimbursement.
JetBlue will provide $12 meal vouchers and United Airlines will give meal vouchers for the "reasonable cost of a meal at airport food vendors. If you don’t automatically get one, just ask us" for three-hour delays under their control.
(Reporting by David Shepardson; Editing by Chizu Nomiyama and Jonathan Oatis)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways JBLU.O and others detailed commitments in customer service plans they updated this week at USDOT's prompting. Many airlines have previously offered vouchers or hotel rooms for delays they caused but did not spell out commitments in customer service plans. Buttigieg had written airline chief executives asking them "at a minimum" to provide meal vouchers for delays of three hours or more and lodging for those who must wait overnight because of disruptions within the carrier’s control.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways JBLU.O and others detailed commitments in customer service plans they updated this week at USDOT's prompting. By David Shepardson WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Some airlines said in updated customer service plans that if they cannot find a hotel room, they will provide a voucher or reimburse stranded passenger if they find a reasonably priced room on their own and will reimburse them for transportation.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways JBLU.O and others detailed commitments in customer service plans they updated this week at USDOT's prompting. By David Shepardson WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Some airlines said in updated customer service plans that if they cannot find a hotel room, they will provide a voucher or reimburse stranded passenger if they find a reasonably priced room on their own and will reimburse them for transportation.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways JBLU.O and others detailed commitments in customer service plans they updated this week at USDOT's prompting. Some airlines said in updated customer service plans that if they cannot find a hotel room, they will provide a voucher or reimburse stranded passenger if they find a reasonably priced room on their own and will reimburse them for transportation. Southwest Airlines said if meal vouchers are not available for a three-hour airport delay under its control they would honor reasonable requests for reimbursement.
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3286.0
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2022-08-31 00:00:00 UTC
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U.S. airlines commit to providing meals, hotel rooms for extended delays they caused
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AAL
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https://www.nasdaq.com/articles/u.s.-airlines-commit-to-providing-meals-hotel-rooms-for-extended-delays-they-caused-0
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nan
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WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control.
American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways and others detailed commitments in customer service plans they updated this week at USDOT's prompting. Some airlines said customer service plan updates were not a policy change, but clarified existing airline practices.
Transportation Secretary Pete Buttigieg said on Aug. 19 he will publish by Friday an "interactive dashboard" for air travelers to compare services each large U.S. airline provides when the cancellation or delay was due to circumstances within the airline’s control.
(Reporting by David Shepardson; Editing by Chizu Nomiyama)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways and others detailed commitments in customer service plans they updated this week at USDOT's prompting. WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Transportation Secretary Pete Buttigieg said on Aug. 19 he will publish by Friday an "interactive dashboard" for air travelers to compare services each large U.S. airline provides when the cancellation or delay was due to circumstances within the airline’s control.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways and others detailed commitments in customer service plans they updated this week at USDOT's prompting. WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Some airlines said customer service plan updates were not a policy change, but clarified existing airline practices.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways and others detailed commitments in customer service plans they updated this week at USDOT's prompting. WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. (Reporting by David Shepardson; Editing by Chizu Nomiyama) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines AAL.O, United Airlines UAL.O, Southwest Airlines LUV.N, Delta Air Lines DAL.N, JetBlue Airways and others detailed commitments in customer service plans they updated this week at USDOT's prompting. WASHINGTON, Aug 31 (Reuters) - Major U.S. airlines told the U.S. Transportation Department (USDOT) they will provide meals for customers delayed by three hours and hotel rooms for stranded passengers if prompted by issues under the airlines' control. Some airlines said customer service plan updates were not a policy change, but clarified existing airline practices.
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3287.0
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2022-08-30 00:00:00 UTC
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United Airlines, Emirates set to announce codeshare agreement -- sources
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AAL
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https://www.nasdaq.com/articles/united-airlines-emirates-set-to-announce-codeshare-agreement-sources
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By David Shepardson and Alexander Cornwell
WASHINGTON/DUBAI, Aug 30 (Reuters) - United Airlines UAL.O and Dubai's Emirates are set to announce a codeshare agreement in the coming weeks, sources told Reuters.
United on Tuesday sent an invitation to reporters to a "special event" on Sept. 14 titled "Come fly with us" with Chief Executive Scott Kirby and Emirates President Tim Clark in Washington.
The Air Current reported the expected announcement earlier. United did not offer additional comment. An Emirates spokesperson confirmed the airlines will make "a joint announcement" on Sept. 14 in Washington, declining to elaborate.
After receiving government approvals, a codeshare would allow both airlines' customers access to additional destinations that each do not currently serve. The agreement is likely to help United better compete for customers flying to the Gulf region.
In June, American Airlines AAL.O and Qatar Airways said they were expanding a strategic alliance announced in early 2020 with a new codeshare agreement, expanding the agreement to 16 additional countries.
American said in June the deal would establish "American as the only U.S. carrier to serve the Gulf region, seamlessly connecting through Doha with Qatar Airways."
Starting in 2015, the largest U.S. carriers argued their Gulf rivals were being unfairly subsidized by their governments, distorting competition and costing U.S. jobs - something the Gulf carriers adamantly denied.
(Reporting by David Shepardson in Washington and Alexander Cornwell in Dubai; editing by Jonathan Oatis)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In June, American Airlines AAL.O and Qatar Airways said they were expanding a strategic alliance announced in early 2020 with a new codeshare agreement, expanding the agreement to 16 additional countries. United on Tuesday sent an invitation to reporters to a "special event" on Sept. 14 titled "Come fly with us" with Chief Executive Scott Kirby and Emirates President Tim Clark in Washington. An Emirates spokesperson confirmed the airlines will make "a joint announcement" on Sept. 14 in Washington, declining to elaborate.
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In June, American Airlines AAL.O and Qatar Airways said they were expanding a strategic alliance announced in early 2020 with a new codeshare agreement, expanding the agreement to 16 additional countries. By David Shepardson and Alexander Cornwell WASHINGTON/DUBAI, Aug 30 (Reuters) - United Airlines UAL.O and Dubai's Emirates are set to announce a codeshare agreement in the coming weeks, sources told Reuters. (Reporting by David Shepardson in Washington and Alexander Cornwell in Dubai; editing by Jonathan Oatis) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In June, American Airlines AAL.O and Qatar Airways said they were expanding a strategic alliance announced in early 2020 with a new codeshare agreement, expanding the agreement to 16 additional countries. By David Shepardson and Alexander Cornwell WASHINGTON/DUBAI, Aug 30 (Reuters) - United Airlines UAL.O and Dubai's Emirates are set to announce a codeshare agreement in the coming weeks, sources told Reuters. (Reporting by David Shepardson in Washington and Alexander Cornwell in Dubai; editing by Jonathan Oatis) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In June, American Airlines AAL.O and Qatar Airways said they were expanding a strategic alliance announced in early 2020 with a new codeshare agreement, expanding the agreement to 16 additional countries. By David Shepardson and Alexander Cornwell WASHINGTON/DUBAI, Aug 30 (Reuters) - United Airlines UAL.O and Dubai's Emirates are set to announce a codeshare agreement in the coming weeks, sources told Reuters. The agreement is likely to help United better compete for customers flying to the Gulf region.
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3288.0
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2022-08-30 00:00:00 UTC
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Is the Options Market Predicting a Spike in American Airlines (AAL) Stock?
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AAL
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https://www.nasdaq.com/articles/is-the-options-market-predicting-a-spike-in-american-airlines-aal-stock
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Investors in American Airlines Group Inc. AAL need to pay close attention to the stock based on moves in the options market lately. That is because the Sep 2, 2022 $9 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for American Airlines shares, but what is the fundamental picture for the company? Currently, American Airlines is a Zacks Rank #3 (Hold) in the Transportation - Airline industry that ranks in the Bottom 47% of our Zacks Industry Rank. Over the last 30 days, two analysts have increased their earnings estimates for the current quarter, while none have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 42 cents per share to 51 cents in that period.
Given the way analysts feel about American Airlines right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors in American Airlines Group Inc. AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc. AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc. AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
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Investors in American Airlines Group Inc. AAL need to pay close attention to the stock based on moves in the options market lately. American Airlines Group Inc. (AAL): Free Stock Analysis Report However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
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3289.0
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2022-08-29 00:00:00 UTC
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American Airlines (AAL) Dips More Than Broader Markets: What You Should Know
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-dips-more-than-broader-markets%3A-what-you-should-know-2
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American Airlines (AAL) closed at $13.51 in the latest trading session, marking a -1.67% move from the prior day. This move lagged the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.57%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the world's largest airline had gained 0.22% in the past month. In that same time, the Transportation sector gained 6.21%, while the S&P 500 gained 3.65%.
Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date. In that report, analysts expect American Airlines to post earnings of $0.51 per share. This would mark year-over-year growth of 151.52%. Our most recent consensus estimate is calling for quarterly revenue of $13.34 billion, up 48.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion. These totals would mark changes of +90.21% and +61.27%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for American Airlines. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 16.8% higher within the past month. American Airlines is currently sporting a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 134, putting it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines (AAL) closed at $13.51 in the latest trading session, marking a -1.67% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Wall Street will be looking for positivity from American Airlines as it approaches its next earnings report date.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines (AAL) closed at $13.51 in the latest trading session, marking a -1.67% move from the prior day. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines (AAL) closed at $13.51 in the latest trading session, marking a -1.67% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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American Airlines (AAL) closed at $13.51 in the latest trading session, marking a -1.67% move from the prior day. American Airlines Group Inc. (AAL): Free Stock Analysis Report Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.82 per share and revenue of $48.19 billion.
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3290.0
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2022-08-26 00:00:00 UTC
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Airline Stock Roundup: RYAAY's Solid FY23 Traffic View, AAL's Deal & More
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AAL
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-ryaays-solid-fy23-traffic-view-aals-deal-more
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In the past week, Ryanair Holdings RYAAY was the chief newsmaker following its decision to increase the projection for the number of passengers to be transported in fiscal 2023 (ending Mar 31, 2023). American Airlines AAL was also in the news, courtesy of its management’s decision to expand its regional operations. To this end, AAL inked a five-year deal with Air Wisconsin. Meanwhile, JetBlue Airways JBLU reportedly announced some route cuts to ensure operational efficiency.
AAL also grabbed the headlines recently when it inked a deal with Boom Supersonic to purchase up to 20 Overture planes from the latter. The story was reported in detail in the previous week’s write-up.
Recap of the Latest Top Stories
1. Ryanair now expects passenger volumes for fiscal 2023 to be 166.5 million. The previous expectation was 165 million. Ryanair augmented its UK capacity by adding one million plus seats to/from 20 airports in the UK.
The raised forecast is owing to management’s decision to boost the airline’s UK winter schedule following a reduction in the winter schedule capacity of its rival British Airways. RYAAY currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2. With an eye on maintaining its operations to small markets, American Airlines announced that Air Wisconsin will be part of the American Eagle family by March 2023 in the face of acute pilot crisis. Air Wisconsin’s fleet will start operating for American Eagle within next March. American Eagle is a network of multiple regional carriers that operate under a codeshare and service pact with AAL.
Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s, primarily from AAL’s hub at the Chicago - O’Hare International. Currently, Air Wisconsin operates flights for United Airlines UAL from the latter’s (Chicago-based carrier) hubs at O’Hare and Dulles International Airports. Air Wisconsin’s partnership with UAL is likely to come to an end, in accordance with its terms.
3. Management at JetBlue decided to trim its network by terminating services to some destinations. To this end, JBLU decided to stop its nonstop flights from San Francisco International Airport to Newark after Sep 6, 2022. Per a statement issued by the management, “To ensure continued operational reliability, we’re planning a schedule change for this fall and into 2023 that will extend some of the market suspensions we put in place earlier this year,”
4. Per a CNBC report, the U.S. administration decided to suspend 26 flights to China from the United States by four Chinese carriers, namely Xiamen, Air China, China Southern Airlines and China Eastern Airlines. The decision, which will impact flights from Sep 5 to Sep 28, follows a similar ruling from the Chinese government, whereby 26 U.S.-bound flights by Delta, American Airlines and United Airlines were suspended due to COVID-19 cases.
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
Image Source: Zacks Investment Research
The table above shows that almost all airline stocks have traded in the green over the past five trading days. The NYSE ARCA Airline Index has increased 3.4% to $63.75. Over the past six months, the NYSE ARCA Airline Index has plummeted 21.7%.
What's Next in the Airline Space?
Stay tuned for usual news updates on the space.
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Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
JetBlue Airways Corporation (JBLU): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s, primarily from AAL’s hub at the Chicago - O’Hare International. American Airlines AAL was also in the news, courtesy of its management’s decision to expand its regional operations. To this end, AAL inked a five-year deal with Air Wisconsin.
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American Airlines AAL was also in the news, courtesy of its management’s decision to expand its regional operations. To this end, AAL inked a five-year deal with Air Wisconsin. AAL also grabbed the headlines recently when it inked a deal with Boom Supersonic to purchase up to 20 Overture planes from the latter.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines AAL was also in the news, courtesy of its management’s decision to expand its regional operations. To this end, AAL inked a five-year deal with Air Wisconsin.
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American Airlines AAL was also in the news, courtesy of its management’s decision to expand its regional operations. To this end, AAL inked a five-year deal with Air Wisconsin. AAL also grabbed the headlines recently when it inked a deal with Boom Supersonic to purchase up to 20 Overture planes from the latter.
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3291.0
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2022-08-25 00:00:00 UTC
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Anglo American Chile's CEO resigns -statement
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AAL
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https://www.nasdaq.com/articles/anglo-american-chiles-ceo-resigns-statement
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nan
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nan
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SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive Aaron Puna resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine Patricio Hidalgo, the company said in a statement on Thursday.
(Reporting by Fabian Andres Cambero; Editing by Anthony Esposito)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive Aaron Puna resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine Patricio Hidalgo, the company said in a statement on Thursday. (Reporting by Fabian Andres Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive Aaron Puna resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine Patricio Hidalgo, the company said in a statement on Thursday. (Reporting by Fabian Andres Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive Aaron Puna resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine Patricio Hidalgo, the company said in a statement on Thursday. (Reporting by Fabian Andres Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive Aaron Puna resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine Patricio Hidalgo, the company said in a statement on Thursday. (Reporting by Fabian Andres Cambero; Editing by Anthony Esposito) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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3292.0
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2022-08-25 00:00:00 UTC
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U.S. suspends 26 Chinese flights, responding to China flight cancellations
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AAL
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https://www.nasdaq.com/articles/u.s.-suspends-26-chinese-flights-responding-to-china-flight-cancellations-0
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nan
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nan
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By David Shepardson
WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases.
The decision will suspend 26 flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28. The U.S. Department of Transportation cited the recent cancellation of 26 American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases.
The suspensions include 19 flights from Los Angeles and 7 China Eastern flights from New York.
The Chinese Embassy in Washington did not immediately comment.
USDOT said as of Aug. 7 Chinese authorities revised their policies so if the number of passengers testing positive for COVID-19 reached 4% of the total number of passengers on a flight to China, one flight would be suspended and two flights if it reached 8%.
USDOT said the U.S. government has repeatedly raised
objections with the government of China saying the rules place "undue culpability on carriers" when travelers test negative before boarding their flight from the United States only to "test positive for COVID-19 after their arrival in China."
Beijing and Washington have sparred over air services since the start of the pandemic. In August 2021, USDOT limited four flights from Chinese carriers to 40% passenger capacity for four weeks after Beijing imposed identical limits on four United Airlines flights.
Before the recent cancellations, three U.S. airlines and four Chinese carriers were operating about 20 flights a week between the countries, well below the figure of more than 100 per week before the pandemic.
(Reporting by David Shepardson; Editing by Leslie Adler and David Gregorio)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The U.S. Department of Transportation cited the recent cancellation of 26 American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. By David Shepardson WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. USDOT said the U.S. government has repeatedly raised objections with the government of China saying the rules place "undue culpability on carriers" when travelers test negative before boarding their flight from the United States only to "test positive for COVID-19 after their arrival in China."
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The U.S. Department of Transportation cited the recent cancellation of 26 American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. The decision will suspend 26 flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28. USDOT said as of Aug. 7 Chinese authorities revised their policies so if the number of passengers testing positive for COVID-19 reached 4% of the total number of passengers on a flight to China, one flight would be suspended and two flights if it reached 8%.
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The U.S. Department of Transportation cited the recent cancellation of 26 American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. By David Shepardson WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. USDOT said as of Aug. 7 Chinese authorities revised their policies so if the number of passengers testing positive for COVID-19 reached 4% of the total number of passengers on a flight to China, one flight would be suspended and two flights if it reached 8%.
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The U.S. Department of Transportation cited the recent cancellation of 26 American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. By David Shepardson WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. The decision will suspend 26 flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28.
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3293.0
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2022-08-25 00:00:00 UTC
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U.S. suspends 26 Chinese flights, responding to China flight cancellations
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AAL
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https://www.nasdaq.com/articles/u.s.-suspends-26-chinese-flights-responding-to-china-flight-cancellations
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nan
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nan
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WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases.
The decision suspends some flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28. The U.S. Department of Transportation cited the recent cancellation of American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases.
(Reporting by David Shepardson; Editing by Leslie Adler)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The U.S. Department of Transportation cited the recent cancellation of American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. (Reporting by David Shepardson; Editing by Leslie Adler) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The U.S. Department of Transportation cited the recent cancellation of American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. The decision suspends some flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28.
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The U.S. Department of Transportation cited the recent cancellation of American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. The decision suspends some flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28.
|
The U.S. Department of Transportation cited the recent cancellation of American Airlines AAL.O, Delta Air Lines DAL.N and United Airlines UAL.O flights over COVID-19 cases. WASHINGTON, Aug 25 (Reuters) - The U.S. government said on Thursday it would suspend 26 China-bound flights from the United States by four Chinese carriers in response to the Chinese government's decision to suspend some U.S. carrier flights over COVID-19 cases. The decision suspends some flights by Xiamen, Air China 601111.SS, China Southern Airlines 600029.SS and China Eastern Airlines 600115.SS starting Sept. 5 and running through Sept. 28.
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3294.0
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2022-08-25 00:00:00 UTC
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Peru expects copper prices to fall in 2023 -economy ministry
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AAL
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https://www.nasdaq.com/articles/peru-expects-copper-prices-to-fall-in-2023-economy-ministry
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nan
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nan
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LIMA, Aug 25 (Reuters) - Peru, the world's No. 2 copper producer, expects the price of the metal to fall to $3.40 per ounce in 2023 from an average of $3.90 this year, according to forecasts from the economy ministry released on Thursday.
Mining is a key source of tax revenue for Peru, with the lion's share coming from the extraction of copper.
Peruvian finance minister, Kurt Burneo, told reporters that the pessimistic price outlook would be offset by fewer disruptions and higher production as Anglo American's AAL.L Quellaveco mine is expected to start operating by the end of the year.
Peruvian mining output has fallen 10% so far this year, according to official statistics.
Neighbor Chile, the world's top copper producer, does not have such a pessimistic outlook, forecasting in late July that prices would hit $3.93 an ounce in 2023.
Copper prices have fallen nearly 30% from a March peak but remain relatively high.
(Reporting by Marcelo Rochabrun; Editing by Kirsten Donovan)
((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Peruvian finance minister, Kurt Burneo, told reporters that the pessimistic price outlook would be offset by fewer disruptions and higher production as Anglo American's AAL.L Quellaveco mine is expected to start operating by the end of the year. 2 copper producer, expects the price of the metal to fall to $3.40 per ounce in 2023 from an average of $3.90 this year, according to forecasts from the economy ministry released on Thursday. Neighbor Chile, the world's top copper producer, does not have such a pessimistic outlook, forecasting in late July that prices would hit $3.93 an ounce in 2023.
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Peruvian finance minister, Kurt Burneo, told reporters that the pessimistic price outlook would be offset by fewer disruptions and higher production as Anglo American's AAL.L Quellaveco mine is expected to start operating by the end of the year. 2 copper producer, expects the price of the metal to fall to $3.40 per ounce in 2023 from an average of $3.90 this year, according to forecasts from the economy ministry released on Thursday. Neighbor Chile, the world's top copper producer, does not have such a pessimistic outlook, forecasting in late July that prices would hit $3.93 an ounce in 2023.
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Peruvian finance minister, Kurt Burneo, told reporters that the pessimistic price outlook would be offset by fewer disruptions and higher production as Anglo American's AAL.L Quellaveco mine is expected to start operating by the end of the year. 2 copper producer, expects the price of the metal to fall to $3.40 per ounce in 2023 from an average of $3.90 this year, according to forecasts from the economy ministry released on Thursday. Neighbor Chile, the world's top copper producer, does not have such a pessimistic outlook, forecasting in late July that prices would hit $3.93 an ounce in 2023.
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Peruvian finance minister, Kurt Burneo, told reporters that the pessimistic price outlook would be offset by fewer disruptions and higher production as Anglo American's AAL.L Quellaveco mine is expected to start operating by the end of the year. LIMA, Aug 25 (Reuters) - Peru, the world's No. 2 copper producer, expects the price of the metal to fall to $3.40 per ounce in 2023 from an average of $3.90 this year, according to forecasts from the economy ministry released on Thursday.
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3295.0
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2022-08-25 00:00:00 UTC
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Anglo American Chile's CEO resigns, interim chief named
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AAL
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https://www.nasdaq.com/articles/anglo-american-chiles-ceo-resigns-interim-chief-named
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nan
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nan
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Adds information about CEO's resignation, context
SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive, Aaron Puna, has resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine, Patricio Hidalgo, the company said in a statement on Thursday.
Puna will continue to work "with the management team of Chile and Base Metals in a transition period," the company added.
The resignation comes as the company seeks to reverse the rejection in early May of the environmental permit to continue operating the Los Bronces mine in the center of the country.
Environmentalists and social groups have criticized Los Bronces project, valued at $3.3 billion, for its possible impact on a nearby glacier, as well as over risks to water supply in the area.
At the end of July, Chilean authorities also rejected a project that sought to extend the useful life of Anglo American's small El Soldado copper mine until 2028.
(Reporting by Fabian Andres Cambero; Editing by Anthony Esposito and Leslie Adler)
((Carolina.Pulice@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds information about CEO's resignation, context SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive, Aaron Puna, has resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine, Patricio Hidalgo, the company said in a statement on Thursday. The resignation comes as the company seeks to reverse the rejection in early May of the environmental permit to continue operating the Los Bronces mine in the center of the country. Environmentalists and social groups have criticized Los Bronces project, valued at $3.3 billion, for its possible impact on a nearby glacier, as well as over risks to water supply in the area.
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Adds information about CEO's resignation, context SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive, Aaron Puna, has resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine, Patricio Hidalgo, the company said in a statement on Thursday. The resignation comes as the company seeks to reverse the rejection in early May of the environmental permit to continue operating the Los Bronces mine in the center of the country. Environmentalists and social groups have criticized Los Bronces project, valued at $3.3 billion, for its possible impact on a nearby glacier, as well as over risks to water supply in the area.
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Adds information about CEO's resignation, context SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive, Aaron Puna, has resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine, Patricio Hidalgo, the company said in a statement on Thursday. The resignation comes as the company seeks to reverse the rejection in early May of the environmental permit to continue operating the Los Bronces mine in the center of the country. (Reporting by Fabian Andres Cambero; Editing by Anthony Esposito and Leslie Adler) ((Carolina.Pulice@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Adds information about CEO's resignation, context SANTIAGO, Aug 25 (Reuters) - Anglo American Chile's AAL.L chief executive, Aaron Puna, has resigned from his position and will be temporarily replaced by the head of the firm's Los Bronces mine, Patricio Hidalgo, the company said in a statement on Thursday. Puna will continue to work "with the management team of Chile and Base Metals in a transition period," the company added. The resignation comes as the company seeks to reverse the rejection in early May of the environmental permit to continue operating the Los Bronces mine in the center of the country.
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3296.0
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2022-08-24 00:00:00 UTC
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American Airlines (AAL) Inks 5-Year Deal With Regional Carrier
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AAL
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https://www.nasdaq.com/articles/american-airlines-aal-inks-5-year-deal-with-regional-carrier
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nan
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nan
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American Airlines AAL entered into a capacity purchase agreement with Air Wisconsin, one of the oldest regional airlines. Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s from AAL’s hub at the Chicago - O’Hare International Airport. However, the agreement can be expanded in the future to include other hubs.
Wisconsin will operate Bombardier CRJ-200 regional jets on behalf of American Airlines from March 2023. The flights will be in service under the American Eagle brand. American Eagle is a network of multiple regional carriers that operate under a codeshare and service pact with AAL.
Initially, Air Wisconsin will fly 40 CRJs on AAL’s behalf. However, per the agreement, it has the option to add up to 20 such jets depending on air-travel demand. American Airlines will pay Air Wisconsin a fixed revenue (daily) for each aircraft flown under the agreement. The deal with the regional carrier allows AAL to expand its footprint further without having to increase the number of planes.
Air Wisconsin, like other regional carriers, is persistently struggling with pilot crisis. Currently, it operates flights for United Airlines UAL from the Chicago-based carrier’s hubs at O’Hare and Dulles International Airports. Air Wisconsin’s partnership with UAL is likely to come to an end, in accordance with its terms.
Zacks Rank & Key Picks
Both American Airlines and United Airlines currently carry a Zacks Rank #3 (Hold). Some better-ranked stocks in the Zacks Transportation sector are SkyWest SKYW and C.H. Robinson CHRW.
Continued recovery in air-travel demand bodes well for SkyWest. With improvement in air-travel demand, SKYW carried 32.7% more passengers in first-half 2022 than the year-ago level. As a result, the passenger load factor (percentage of seats filled by passengers) expanded 1450 basis points to 82.1% in first-half 2022.
SKYW’s fleet-modernization efforts are commendable as well. The positivity surrounding the stock is evident from the Zacks Consensus Estimate for current-year earnings being revised in excess of 100% upward over the past 60 days. SkyWest has a Momentum Style Score of A. SKYW currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
C.H. Robinson is being aided by an improving freight scenario in the United States. Efforts to control costs also bode well. Measures to reward CHRW's shareholders instill further confidence in the stock.
C.H. Robinson has a pleasant earnings track record. The bottom line surpassed the Zacks Consensus Estimate in three of the trailing four quarters (missing the mark in the remaining one). The stock has witnessed the Zacks Consensus Estimate for 2022 earnings being revised 17.6% upward over the past 60 days. C.H. Robinson currently carries a Zacks Rank #2 (Buy).
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
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C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report
SkyWest, Inc. (SKYW): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s from AAL’s hub at the Chicago - O’Hare International Airport. American Airlines AAL entered into a capacity purchase agreement with Air Wisconsin, one of the oldest regional airlines. American Eagle is a network of multiple regional carriers that operate under a codeshare and service pact with AAL.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report American Airlines AAL entered into a capacity purchase agreement with Air Wisconsin, one of the oldest regional airlines. Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s from AAL’s hub at the Chicago - O’Hare International Airport.
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American Airlines AAL entered into a capacity purchase agreement with Air Wisconsin, one of the oldest regional airlines. American Airlines Group Inc. (AAL): Free Stock Analysis Report Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s from AAL’s hub at the Chicago - O’Hare International Airport.
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American Airlines AAL entered into a capacity purchase agreement with Air Wisconsin, one of the oldest regional airlines. Per the terms of the deal, Air Wisconsin will be responsible for operating up to 60 aircraft of its fleet of 50-seat CRJ-200s from AAL’s hub at the Chicago - O’Hare International Airport. American Eagle is a network of multiple regional carriers that operate under a codeshare and service pact with AAL.
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3297.0
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2022-08-22 00:00:00 UTC
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How to Invest Confidently in Residential Housing
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AAL
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https://www.nasdaq.com/articles/how-to-invest-confidently-in-residential-housing
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nan
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nan
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In this episode of Motley Fool Money, Motley Fool senior analyst Jason Moser discusses:
The challenge for first-time homebuyers.
Why he prefers investing in residential real estate through home-improvement businesses (rather than homebuilders).
The airline industry's woeful track record on share buybacks.
Why you should ask, "Is this the best use of capital?" whenever you see a share buyback announcement.
Also, Motley Fool senior analysts Asit Sharma and Deidre Woollard discuss the growing trend of secondhand fashion and the opportunities for companies involved.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
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This video was recorded on Aug. 18, 2022.
Chris Hill: We've got airlines, housing, and we need to talk about your wardrobe, too. Motley Fool Money starts now. I'm Chris Hill joined by Motley Fool Senior Analyst Jason Moser. Thanks for joining me once again this week.
Jason Moser: Well, thanks so much for having me.
Chris Hill: Let's start with housing because it is not just the price of gas that is falling across America. According to monthly data from the National Association of Realtors, sales of previously owned homes fell nearly 6% in July. There are a few different ways we can go here. But one thing that caught my attention was just from the standpoint of people who are looking to buy houses, it's been a challenge the last couple of years, and even with prices dropping, first-time homebuyers, you look at the data, and I don't want to say they're getting squeezed out, but they are making up a smaller percentage than they historically do. Typically, it's around 40%. In July, it was just under 30%.
Jason Moser: Yeah. It definitely feels like as time goes on, it becomes more and more difficult for that first home purchase. I think I'm sure you and I can look back in our lives and remember when we made our first home purchase, that's a big purchase. Obviously, it requires a lot of resources. It requires a lot of, frankly, education, and understanding of the process and what you're getting [laughs] ready to commit yourself to. But, financially just becoming more and more prohibitive, and from the first-time homebuyers' perspective, that's really frustrating. You feel like you just don't ever have a chance. Now, on the other side of the coin there, if you're a homeowner today, you're feeling really good about things. Homeowners themselves are in really good position because we're seeing still a limited supply. I think everybody would pretty much agree that right now we are in the middle of the housing shortage here, domestically. We need to see new homes being built.
The problem obviously is the economy continues to face challenges, the interest rate environment continues to rise. We're seeing homebuilders canceling. Those homebuilder cancellation rates have more than doubled since April. I think if you look at July, you saw 17.6% of builder contracts actually fell through. That was versus 8% in April. If you go all the way back to July of 2021, it's 7.5%. This is a very difficult climate for folks to commit to buying a home. I don't know that we should expect that to change anytime soon. Then you top that off with existing home sales data, which is obviously falling as well. I think we saw nationwide 63,000 deals, I saw quoted on existing homes, fell through in July. There was about 16% of the homes that went under contract. You can imagine as a seller and you feel like you've got this thing locked down and ready to go forward, and then that deal falls through, well, that's going to be pretty frustrating for both parties involved. It's just a very difficult market right now in regard to housing.
Chris Hill: From an investing standpoint, how does one invest confidently in residential housing right now? Is it through the homebuilders themselves? Is it through the businesses that operate in some ways on the margins of the housing industry?
Jason Moser: Personally, I think homebuilders are absolutely one way to do it. Now, I think you said invest confidently, and I think when it comes to homebuilders, that can be a little bit more of a volatile ride. I think a lot of that just has to do with the data that we're seeing playing out here today. I absolutely agree that homebuilders are one way to do it because typically when you have a shortage, you need to make up for that by building more, and that would indicate that the builders should be seeing some action here in the coming years. Now they've got to deal with, obviously, supply chain constraints. They've got to deal with the rising interest rate environment. They've got to deal with inflation. It's a little bit of a tricky time. I think confidently, I personally just like more the home improvement in retail sectors. You look at the Lowe's and Home Depot of the world.
To me, I feel like that is probably a bit more of a reliable, safer long-term play. I think at least you can buy into those businesses and feel like you can own them indefinitely because they benefit from virtually every condition. If there's a shortage, then you got people sticking in their homes and they are doing more stuff to their homes. If you look at Home Depot's results they announced earlier, this week pro sales outpaced the do-it-yourself consumer sales in the quarter. That's just an indicator that there are home-improvement projects that are happening, makes a lot of sense. The homeowner is in a great place equity-wise. It doesn't take a lot to go ahead and open that home equity line of credit, or take out that home equity loan, and finance that project you've been wanting to do. They benefit rain or shine. I do feel like there are a couple of different ways to do it and I think having exposure to all homebuilders and the improvements base makes sense. It feels to me like the improvements base is probably a little bit of a steady ride than the homebuilders might be.
Chris Hill: U.S. airlines got $54 billion in federal aid during the pandemic, and a condition of that assistance was that the airlines were not allowed to use the money on share buyback plans. That ban is going to end on Sept. 30 and now the airlines are starting to do better financially. The unions representing pilots, flight attendants, and other industry employees are now publicly urging the airlines not to resume buybacks when the ban is lifted. I have to say if I were a shareholder of Delta, United, American -- I think I'd probably say the same thing.
Jason Moser: [laughs] Yeah. It goes to show you the difficulties in running a publicly traded company. You've got so many stakeholders that you have to appease, and it's not always going to be in line. They don't always line up with each other. I agree there. It feels like to me it could be argued that there's a very sound argument here for holding off on those share repurchases. From a headline perspective, it sure does look like the airlines are having a difficult time right now dealing with their businesses. The customer experience just doesn't seem like it's been all that stellar lately, and it's for a number of different reasons. But at the end of the day, it ultimately means that these airlines need to focus on making sure that customer experiences is good as it can be. Clearly, you got to make sure that your employees are happy as well. Now, it can be also argued that the airlines just simply aren't getting these share repurchases right in the first place.
Now I will go and preface this by saying that I know some folks love the airline space, feel like there's a lot of value there, a lot of opportunity there, I'm not one of those people. I don't like investing in airlines, I don't own any airlines, I have a hard time imagining that I ever will own an airline. I feel like there's just plenty of data out there really to back that up. Perhaps there's a value investment there at some point or another, and that's your cup of tea, then that's great. But for me, when I'm looking for businesses that I can just buy and hang on to, airlines just do not fit the bill. When you look at the way the bigs have performed here recently, their share prices, their repurchase plans, it just isn't lining up. Look at a few examples here. Let's look at these big names in the airline space, Delta. They spent close to $5.5 billion on repurchases since 2018. You go back five years, $5.5 billion on share repurchases. Now, their share account is actually down close to 10%.
But that's great, that's what you want to see, at least when you're making those repurchases. The whole idea there, bring that share count down and ultimately make those shares outstanding a little bit more valuable. Now, even Delta shares are down around 22% over that time stretch. But then when you look at the other three, look at United, they spent close to $5 billion on repurchases. The share count is actually up, shares are down 40% over that five-year stretch. Look at American, they spent around $3.5 billion on repurchases. Share count is up, their shares are down 66% over that time frame. Look at Southwest. One that we've always looked at is maybe a little bit of a disruptor in the space in focusing a little bit more on that customer experiences and looking out for shareholders a little bit more.
They spent around $6 billion in repurchases over the stretch. That share count is up, and those shares are down 24%. They're not really seeing the long-term impacts of spending on those share repurchases. I think when you look at that data, it really does I think bolster the argument that maybe these guys need to focus on something other than share repurchases for a while. They can get their house in order or get their customer experience back in order and get their financial house in order. Then you can get back to returning value to shareholders through these repurchases. But maybe for them, the better focus is focus on that reliable dividend policy, give people some cash in the pocket and steer away from the theoretical impacts of share repurchases, because clearly, it's not helping them today.
Chris Hill: It's a question we ask all the time regardless of industry, regardless of the business. When there's a share repurchase plan we always ask like, "Is this the best use of this capital?"
Jason Moser: Exactly.
Chris Hill: In some cases it is, but in others, you just look at the track record, it's just not.
Jason Moser: You're right. That's the question you need to ask, is this the best use of this capital? Look at something like a Berkshire Hathaway, everybody is longing for the longest time, they should pay a dividend. [Warren] Buffett, [Charlie] Munger, listen, "That's cash that we feel can be put to better use." Whether its repurchasing their shares, because they have such an intimate knowledge of their business operations or investing in other opportunities. It doesn't seem like to me. When you look at the airlines, they've got so many problems that it just doesn't feel like share repurchases are the wisest use of that capital. You also look at it going forward is the recent registration the Inflation Act here, there's going to be a 1% tax on share repurchases. Now I think if I'm correct here, I believe that's a net tax, so it's going to be net of shares issued. It's not just whatever they've repurchased they're going to be taxed on that, it's net of shares issued as well. There's something to remember there. That's something else to consider at least is that these share repurchases are going to get a little bit more expensive, as the cost of doing business so to speak goes up. But to me, no question. With airlines, it just doesn't stand out as the best use of capital.
Chris Hill: Jason Moser, thanks for being here.
Jason Moser: Thank you.
Chris Hill: You know that pair of jeans you like, did it have any previous owners? For an increasing number of people, the answer doesn't really matter. Asit Sharma and Deidre Woollard discuss the growing trend of secondhand fashion, and the challenges and opportunities for the companies involved.
Deidre Woollard: I'm Deidre Woollard, and I'm here with Motley Fool analyst, Asit Sharma. We're going to talk about the boom in secondhand retail. Hi, Asit. How are you today?
Asit Sharma: Hi, Deidre. I'm doing well, good to be with you.
Deidre Woollard: Well, let's get into this, because this is a category I'm fascinated with. I see it as this real growth area for investors, because we've got some long-tail demographics that support it. When I was growing up, secondhand was profoundly uncool, nobody did secondhand. Now, resale is booming. One of the emerging leaders in resale ThredUP, they annually put out this report. I love it, it's on the overall market. Of course, they're going to say resale is booming because they're ThredUP, but it also has a lot of facts from other places. They forecast that resale will grow three times as fast as the overall apparel market globally, and it could reach 82 billion in the U.S. alone by 2026. That just blew my mind a bit. There's this whole shift going on in secondhand clothing. Asit, what's going on with the younger generation here?
Asit Sharma: First, let me say, Deidre, that market is so massive. Eighty-two billion in just a few years, why do we need to invest in tech? [laughs] I thought about this a lot over the last few years. I think you're a little younger than me, but we don't always approximate generations, I think. There are lots of trends that are coming together, different from when we were younger. I think this younger generation, it tends to be more attuned to the effects of climate change, to waste, to social inequality. They're much more a socially conscious generation. Let's just say millennials all down are lumping a lot of generations together. These are all types of ideals that tend to benefit a circular retail economy. We've also seen over the last six or seven decades as we moved really gradually from this post-war industrial economy in the 1950s to what we have today, which is a consumption-based economy, this idea that what you wear is the first signal of social status has really dried up, that pull that you've got to have the nice new pair of Nikes.
Although people still love Nikes or crisp, clean, brand- new clothing, that's no longer quite as important today. What you wear today, especially on social media, signals many things, like it's your potential wealth status, but it could also signal how creative you are, the things that you like, it can signal to other people likeness. We saw some of these trends play out over many years. It's just, I think social media amplifies the many virtues that clothing can have. These trends together with one more that I think is really fun are partly to explain that third trend is this experiential aspect for the youngest consumers, even younger than millennials. These kids love to thrift. In fact, the idea that today we're talking about the word thrift as a verb takes me back to the late 1970s, early 1980s when I was a kid wearing bell-bottom jeans.
Deidre Woollard: I love that, bell-bottom jeans. I wanted to think about that because, so you've got this really big thrifting market that's moved beyond those store racks that we used to shuffle through back in the day when I was looking for that perfect slouchy, oversized blazer. I'd liked the idea that we've got resale-as-a-service. This has come up in the last couple of years because all of these retailers watch all of their clothes go into this secondhand circular economy, and they're like, well, wait, can we get it on that? They're starting to, and they're partnering with companies likeThredUP, but there are some big private services that are white-labeling this. It's really interesting where we're going with this, it's this thing that's called a circular economy. Like ThredUP, they're partnering with Gap, Madewell, Tommy Hilfiger, Eddie Bauer, all these big brands. All these brands are now saying in their stores, we have resale as-a-service, or you can even turn into clothes. Is this what we're going to be doing in the future, instead of taking that big bag to Goodwill or something like that, we're going to be like, "Hey, here are these jeans I bought three years ago, Gap, take them back."
Asit Sharma: Well, I want to return to Goodwill by the time we finish this segment. There's something very interesting there. But we're headed gradually in that direction, Deidre. On the surface of things, it's so much easier today because of technology to get a very nice pair of secondhand jeans. The idea that they have to be new due to the technology, the distribution that is every day if you drive along the highway, is becoming more and more prevalent, that our capacity for logistics and warehousing as a society. All of these trends play into the fact that we might be trading our clothes around in the future. I also like some trends that aren't as visible. There are companies that are focusing deeply on making fibers out of sustainably based sources, recycled clothing. I know Levi's of all companies is redesigning its iconic 501 jeans to include a fiber called Circulose. There's that circular term in there, which itself is made partly from recycled denim and organic cotton, and credit to a publication called the Sourcing Journal from where I learned this. But a lot of it may not even be visible to the naked eye. There's certainly some interesting trends of the idea of fashion becoming more circular and less of the fast fashion type of production of brand new clothes rapidly getting them to outlets that seem to be a really prevalent trend just a few years before the pandemic.
Deidre Woollard: Yeah, I've been thinking a lot about that because, yes on one hand we've been seeing that happen with fast fashion, on the other hand, we're seeing companies like Shein go crazy. There seems to be this weird thing that's happening. Two things are happening at the same time. We're still seeing a lot of fast fashion and yet we're also seeing this growth in recycling, and I find this fascinating. I think so much of it is driven by social media. But I wanted to talk to you a little bit about where these industries are going because right now it's not looking good, it's tough. Resale profitability has been really tough. ThredUP has announced layoffs and the different companies are really struggling with profitability. I think part of that is because there are so many different models. You've got different business models. We remember the old-fashioned, the thrift store, the secondhand store, and there used to be the consignment store where that was for the fancy people. Or you would bring your fancy items in and consign them. Those models are being brought on online. You've got companies like Poshmark, and Depop, which Etsy bought, those are heavy on that social shopping model. It's very asset light. But then you've got a company like TheRealReal where you have to send the things in, they have to be consigned, ThredUP, where they've got these massive use in the bag and you've got that whole process where they're bringing all the clothes there. How is this going to work out? There are so many different business models and maybe none of them have quite figured it out yet.
Asit Sharma: I like this characterization of figuring it out because this is exactly what both private and publicly traded companies are trying to do as they build out their businesses in real time. Resale has always been a tough business in the fashion world, but it can be a lucrative one if you can find that magic formula. What's challenging companies with an inventory model is that they've got the inventory cost associated with that, they have to handle the inventory. They have to separate it. On some platforms like ThredUP, they have to present it to the potential buyer. Then you've got the fulfillment costs that just eat up the bottom line. Then on the noninventory model side, you have a really tremendous marketing and advertising expense to have that social element get promoted. Then you've got the customer side of it, which is enticing people to engage in what's a modern-day side hustle.
It's something that for those of us who want to clean up our closet occasionally might have some attraction, but the cost of keeping the customer side, the supply side as well engaged, is also a cost that gets distributed all up and down the P&L. It's hard to see, but this is part of it. How do you keep people returning to a platform? How do you keep people wanting to sell their clothes and others to keep coming by to see if there's something new? All of these problems that you would face in a physical environment are exacerbated online. It's so interesting, Deidre. When you look at the ThredUP, Poshmark, TheRealReal, they all have expanding gross merchandise value. Their platforms are growing. They have expanding revenue.
It's just that they have not yet found that magic formula that produces positive free cash flow and profits. Not to say that these are bad models, but they're not going to succeed. But you have to be a patient investor if you're starting with this. Those really nice ThredUp reports, which I too have been reading for many years, show a market that itself is growing with potential in excess of the actual business models. Lastly, I'm curious to hear your thoughts on this, they're the unspoken giants, which provide this competition in the marketplace. Goodwill and the Salvation Army, their thrift stores, they get their inventory for free. We drop it off, they put it in their stores. That's a massive marketplace that always presents a quick and easy and lucrative shopping outlet for many people who may not even have the time to poke around online.
Deidre Woollard: Well, yeah, you mentioned something really interesting there because you mentioned the word side hustle. That is something that is also a huge part of this because we've started to see that, you've got the Poshmark people, they go to Goodwill. They go to the thrift stores. They won't tell people which thrift store they go to because they know it's a good one and so they'll get them and they'll resell them there. You've actually got a resale market within the resale market [laughs], which just blows my mind. Right now I'm taking a basket approach early on with ThredUP and TheRealReal. Stock prices are low, it's going to be an unsteady and potentially unprofitable business for a while. Is that what you think about this space, too?
Asit Sharma: Yes. I think you just gave listeners the right approach, Deidre. I love your approach. I think for any theme in investing, it's a waiting game. Whether this theme, let's look at 3D printing years ago, or the metaverse, which is a big investment theme today, or resale secondhand fashion, each one of these themes is going to take time to play out. There'll be winners, there'll be losers. Your best bet as an investor if you're really interested in a particular theme, if resale and the circular economy just grabbed your mind, your intellect, and your passion as well, don't jump in with all your capital, it's a long-term game and you'll have time to see which model start to succeed. If you do this regularly, you'll also get some new opportunities as new companies come public, either through their own IPO process or as in the case of Depop, which you mentioned, which was acquired by Etsy and gives you an avenue to invest in that. But yeah, I would make no changes to your approach, I'm trying to do a little bit of that myself, dabble a bit here in their wild prices a little.
Deidre Woollard: Awesome. Well, thanks for chatting with me about this. Let's continue to keep having these conversations every couple of months because there's going to be an interesting one to watch.
Asit Sharma: For sure Deidre. This was a blast, thanks so much.
Chris Hill: As always, people on the program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. I'm Chris Hill. Thanks for listening. We'll see you tomorrow.
Asit Sharma has positions in Etsy. Chris Hill has positions in Etsy, Home Depot, and Lowe's. Deidre Woollard has positions in Lowe's, Nike, TheRealReal, and ThredUp Inc. Jason Moser has positions in Etsy, Home Depot, and Nike. The Motley Fool has positions in and recommends Berkshire Hathaway (B shares), Etsy, Home Depot, Nike, Poshmark, Inc., and ThredUp Inc. The Motley Fool recommends Delta Air Lines, Lowe's, and Southwest Airlines and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also, Motley Fool senior analysts Asit Sharma and Deidre Woollard discuss the growing trend of secondhand fashion and the opportunities for companies involved. Your best bet as an investor if you're really interested in a particular theme, if resale and the circular economy just grabbed your mind, your intellect, and your passion as well, don't jump in with all your capital, it's a long-term game and you'll have time to see which model start to succeed. If you do this regularly, you'll also get some new opportunities as new companies come public, either through their own IPO process or as in the case of Depop, which you mentioned, which was acquired by Etsy and gives you an avenue to invest in that.
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In this episode of Motley Fool Money, Motley Fool senior analyst Jason Moser discusses: The challenge for first-time homebuyers. Also, Motley Fool senior analysts Asit Sharma and Deidre Woollard discuss the growing trend of secondhand fashion and the opportunities for companies involved. The Motley Fool recommends Delta Air Lines, Lowe's, and Southwest Airlines and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares).
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I don't like investing in airlines, I don't own any airlines, I have a hard time imagining that I ever will own an airline. Chris Hill: As always, people on the program may have interest in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. The Motley Fool recommends Delta Air Lines, Lowe's, and Southwest Airlines and recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares).
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Also, Motley Fool senior analysts Asit Sharma and Deidre Woollard discuss the growing trend of secondhand fashion and the opportunities for companies involved. I'm Chris Hill joined by Motley Fool Senior Analyst Jason Moser. You go back five years, $5.5 billion on share repurchases.
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3298.0
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2022-08-22 00:00:00 UTC
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Should You Invest in the U.S. Global Jets ETF (JETS)?
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AAL
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https://www.nasdaq.com/articles/should-you-invest-in-the-u.s.-global-jets-etf-jets-3
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The U.S. Global Jets ETF (JETS) was launched on 04/30/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Industrials - Transportation/Shipping segment of the equity market.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Industrials - Transportation/Shipping is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 1, placing it in top 6%.
Index Details
The fund is sponsored by U.S. Global Investors. It has amassed assets over $2.62 billion, making it one of the largest ETFs attempting to match the performance of the Industrials - Transportation/Shipping segment of the equity market. JETS seeks to match the performance of the U.S. Global Jets Index before fees and expenses.
The U.S. Global Jets Index tracks the performance of Airline Companies across the globe with an emphasis on domestic passenger airlines.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.60%, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 0.78%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
Looking at individual holdings, United Airls Hldgs Inc (UAL) accounts for about 12.29% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL).
The top 10 holdings account for about 61.17% of total assets under management.
Performance and Risk
Year-to-date, the U.S. Global Jets ETF has lost about -16.86% so far, and is down about -15.43% over the last 12 months (as of 08/22/2022). JETS has traded between $16.05 and $24.89 in this past 52-week period.
The ETF has a beta of 1.32 and standard deviation of 47.35% for the trailing three-year period, making it a high risk choice in the space. With about 57 holdings, it effectively diversifies company-specific risk.
Alternatives
U.S. Global Jets ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, JETS is an outstanding option for investors seeking exposure to the Industrials ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.
SPDR S&P Transportation ETF (XTN) tracks S&P Transportation Select Industry Index and the iShares U.S. Transportation ETF (IYT) tracks Dow Jones Transportation Average Index. SPDR S&P Transportation ETF has $519.92 million in assets, iShares U.S. Transportation ETF has $923.17 million. XTN has an expense ratio of 0.35% and IYT charges 0.41%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
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U.S. Global Jets ETF (JETS): ETF Research Reports
Delta Air Lines, Inc. (DAL): Free Stock Analysis Report
United Airlines Holdings Inc (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
iShares U.S. Transportation ETF (IYT): ETF Research Reports
SPDR S&P Transportation ETF (XTN): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Looking at individual holdings, United Airls Hldgs Inc (UAL) accounts for about 12.29% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report It has amassed assets over $2.62 billion, making it one of the largest ETFs attempting to match the performance of the Industrials - Transportation/Shipping segment of the equity market.
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Looking at individual holdings, United Airls Hldgs Inc (UAL) accounts for about 12.29% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report SPDR S&P Transportation ETF (XTN) tracks S&P Transportation Select Industry Index and the iShares U.S. Transportation ETF (IYT) tracks Dow Jones Transportation Average Index.
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Looking at individual holdings, United Airls Hldgs Inc (UAL) accounts for about 12.29% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report SPDR S&P Transportation ETF (XTN) tracks S&P Transportation Select Industry Index and the iShares U.S. Transportation ETF (IYT) tracks Dow Jones Transportation Average Index.
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Looking at individual holdings, United Airls Hldgs Inc (UAL) accounts for about 12.29% of total assets, followed by Delta Air Lines Inc Del (DAL) and American Airls Group Inc (AAL). American Airlines Group Inc. (AAL): Free Stock Analysis Report Global Jets ETF (JETS) was launched on 04/30/2015, and is a passively managed exchange traded fund designed to offer broad exposure to the Industrials - Transportation/Shipping segment of the equity market.
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3299.0
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2022-08-19 00:00:00 UTC
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Airline Stock Roundup: AAL Orders High-Speed Jets, DAL Gives Expansion Update
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AAL
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https://www.nasdaq.com/articles/airline-stock-roundup%3A-aal-orders-high-speed-jets-dal-gives-expansion-update
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In the past week, American Airlines AAL was the chief newsmaker, courtesy of its announcement of making the initial payment to Boom Supersonic regarding the purchase of 20 high-speed jets. Delta Air Lines DAL also grabbed the headlines following management’s decision to increase the frequency of flights to Seoul, driven by a strong rebound in international travel.
Highlighting its operational efficiency, Spirit Airlines SAVE recorded its highest-ever completion factor (% of scheduled flights that are completed) for the month of July. Per data available from Cirium, a leading aviation data analysis company, Brazilian carrier Azul AZUL emerged as the most on-time airline across the globe in July.
Recap of the Latest Top Stories
1. To modernize its fleet, American Airlines inked a deal with Boom Supersonic to purchase up to 20 Overture planes from the latter. AAL already made a non-refundable deposit for the fleet. The agreement also includes the option of buying 40 more such high-speed jets for the airline that are expected to carry passengers at twice the speed of the fastest commercial aircraft available currently. Financial details of the deal remain undisclosed.
Boom expects to start rolling out the new super-fast jets in 2025. These planes are anticipated to start ferrying passengers by 2029. They are expected to carry 65-80 passengers on every trip. AAL currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
2. Spirit Airlines’ operational performance in the Jun 5-Aug 5 period, during which the airline operated more than 44,000 domestic and international flights, was excellent. The stellar performance during the busy summer season is a huge positive for SAVE. The highly-impressive conduct may help it attract additional traffic as it is likely to have pleased passengers greatly. Apart from the record July performance with respect to the completion factor, SAVE’s completion factor during the period was 99.2% (which ranked 3rd in the U.S. airline industry). In the same time frame, there were 25 days when the completion factor was 100%. During the two-month period, 77.5% of flights arrived within 14 minutes of the scheduled time.
SAVE was also in the news when it reported a narrower-than-expected loss per share for second-quarter 2022. The story was reported in detail in the previous week’s write-up.
3. To expand its network in response to buoyant air-travel demand, Delta’s management decided to increase the frequency of its nonstop service between Seattle-Tacoma International Airport and Seoul-Incheon International Airport. To this end, Delta aims to introduce flights to Seoul, which will operate thrice a week from Dec 13. The new service will complement Delta’s existing daily operations and partner Korean Air’s five-times a week service. The addition implies that 15 flights per week will operate under Delta’s Seoul service.
4. Azul stated in its press release that per Cirium’s "The Airline On-Time Performance Report", the Brazilian carrier was the most punctual airline, globally (in terms of mainline service), in July with an on-time performance being 89.02%. The data considered 99.4% of AZUL's 25,003 flights in the month. Expressing delight at this development, the carrier’s president John Rodgerson said, "Once again I am incredibly proud of my more than 13,000 colleagues for delivering an industry leading experience for our customers. This is the 2nd time in the previous 5 months that we have been number 1 in the world and we have been in the top 5 in every month since March."
Performance
The following table shows the price movement of the major airline players over the past week and during the last six months.
Image Source: Zacks Investment Research
The table above shows that almost all airline stocks have traded in the red over the five trading days. The NYSE ARCA Airline Index has decreased 1.4% to $64.46. Over the past six months, the NYSE ARCA Airline Index has plummeted 25%
What's Next in the Airline Space?
Stay tuned for usual news updates on the space.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In the past week, American Airlines AAL was the chief newsmaker, courtesy of its announcement of making the initial payment to Boom Supersonic regarding the purchase of 20 high-speed jets. AAL already made a non-refundable deposit for the fleet. AAL currently carries a Zacks Rank #3 (Hold).
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In the past week, American Airlines AAL was the chief newsmaker, courtesy of its announcement of making the initial payment to Boom Supersonic regarding the purchase of 20 high-speed jets. AAL already made a non-refundable deposit for the fleet. AAL currently carries a Zacks Rank #3 (Hold).
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In the past week, American Airlines AAL was the chief newsmaker, courtesy of its announcement of making the initial payment to Boom Supersonic regarding the purchase of 20 high-speed jets. AAL already made a non-refundable deposit for the fleet. AAL currently carries a Zacks Rank #3 (Hold).
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AAL currently carries a Zacks Rank #3 (Hold). In the past week, American Airlines AAL was the chief newsmaker, courtesy of its announcement of making the initial payment to Boom Supersonic regarding the purchase of 20 high-speed jets. AAL already made a non-refundable deposit for the fleet.
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