I cant be that bad can it? LUV still posted a profit. Surely something good has to come from all the sacrifices made. Maybe we should buy a few shares before the earnings report Wednesday. Last two quarters there was a sell off right before reporting then a recovery. hmmm
Amr Stock Price?
- Thread starter cw2usarmy
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LaBradford22
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I think it has something to do with this:
http://biz.yahoo.com/rb/040716/markets_oil_2.html
Reuters
Oil Swells to New Six-Week High
Friday July 16, 12:59 pm ET
LONDON (Reuters) - U.S. oil prices climbed to a new six-week high on Friday as a falling dollar and the vulnerability of stretched global supplies spurred a new wave of speculative buying, traders said.
News of OPEC (News - Websites) pumping at its highest rate in a quarter of a century made only a minor dent in gains, as big-money funds were seen moving back into long positions that had been liquidated over the last month and a half.
U.S. light crude jumped 46 cents to $41.23 a barrel, off the day's $41.80 high but still near June's $42.45 peak, a record for the contract's 21-year history.
European benchmark Brent was up 45 cents at $37.93 a barrel, having climbed more than $1 at one point, buoyed also by an exceptionally strong cash crude market in the North Sea.
Speculators had pared back their net length in the NYMEX crude contract to around 25,000 lots last week, nearly the lowest level this year and only one-third of the length they held in late May.
"Today you're getting some rebuilding of that length after a build-up of cumulative factors this week," said Kevin Nourish, energy analyst at Barclays Capital.
A drop in weekly U.S. crude and gasoline inventories and an upward revision to this year's 24-year-high demand growth forecast helped foster a more supportive fundamental view, he added.
U.S. economic data on Friday also appeared to tempt funds, after news of a muted rise in U.S. inflation and a below-forecast report on consumer inflation that sent the dollar down to four-month lows versus the euro.
That drop seemed to trigger a rush of fund buying onto the energy complex, as investors looked to oil to provide high returns in a time of weakness for fixed-income and foreign exchange markets, analysts say.
OPEC, PUMPING HARD, DROPS MEETING
Oil prices have surged 16 percent in the last three weeks, kept on edge by disruptions to oil supply in Iraq, Norway and Nigeria at a time when the world's spare capacity is at its lowest in more than 10 years.
Capacity has ebbed as OPEC pumps faster to meet rising Chinese and U.S. demand, with the cartel set to boost production by 440,000 bpd to 29.91 million bpd this month due mostly to a recovery in Iraq, consultants Petrologistics said in a report on Friday.
Iraqi exports in the first half of this month came to only 1.4 million barrels per day (bpd), about 400,000 bpd below capacity, as sporadic pipeline sabotage and technical problems hit flows, shipping sources told Reuters. But this was up from June's average 1.2 million bpd exports.
The new data puts OPEC output at its highest since December 1979, according to Geoff Pyne, an independent energy analyst and veteran OPEC watcher.
With only Saudi Arabia holding any significant additional capacity, analysts expect little new oil to emerge when the cartel's ceiling rises another 500,000 bpd from August 1.
The group, which controls around half the world's oil exports, is now pumping more than two million bpd over its new 26 million bpd August quota, according to Petrologistics' data. It estimated OPEC-10 output in July at 27.81 million bpd, up 76,000 bpd over June.
With high oil prices seemingly out of the group's control, ministers canceled next week's planned meeting. It will next meet September 15.
HEATING OIL WORRIES
Distillate supplies in the United States, where the Northeast region is a major winter-time consumer of heating oil, have emerged as an early driver for the energy complex as dealers fretted over the pace of pre-winter inventory building.
Heating oil futures reached a year-and-a-half high of $1.1250 a gallon on Friday, the strongest on record for July, when gasoline is typically the market's strongest product. By the afternoon, it was trading up 1.64 cents at $1.1150.
Seeking to avoid panic buying, the U.S. government Energy Information Administration (EIA) said on Thursday there was plenty of time to boost heating oil inventories before the winter heating season arrives, so traders should not bid up fuel prices.
This week's EIA data reported a significant build up of 2.7 million barrels in middle distillate inventories for the week ended July 9, putting them three percent above this time last year.
http://biz.yahoo.com/rb/040716/markets_oil_2.html
Reuters
Oil Swells to New Six-Week High
Friday July 16, 12:59 pm ET
LONDON (Reuters) - U.S. oil prices climbed to a new six-week high on Friday as a falling dollar and the vulnerability of stretched global supplies spurred a new wave of speculative buying, traders said.
News of OPEC (News - Websites) pumping at its highest rate in a quarter of a century made only a minor dent in gains, as big-money funds were seen moving back into long positions that had been liquidated over the last month and a half.
U.S. light crude jumped 46 cents to $41.23 a barrel, off the day's $41.80 high but still near June's $42.45 peak, a record for the contract's 21-year history.
European benchmark Brent was up 45 cents at $37.93 a barrel, having climbed more than $1 at one point, buoyed also by an exceptionally strong cash crude market in the North Sea.
Speculators had pared back their net length in the NYMEX crude contract to around 25,000 lots last week, nearly the lowest level this year and only one-third of the length they held in late May.
"Today you're getting some rebuilding of that length after a build-up of cumulative factors this week," said Kevin Nourish, energy analyst at Barclays Capital.
A drop in weekly U.S. crude and gasoline inventories and an upward revision to this year's 24-year-high demand growth forecast helped foster a more supportive fundamental view, he added.
U.S. economic data on Friday also appeared to tempt funds, after news of a muted rise in U.S. inflation and a below-forecast report on consumer inflation that sent the dollar down to four-month lows versus the euro.
That drop seemed to trigger a rush of fund buying onto the energy complex, as investors looked to oil to provide high returns in a time of weakness for fixed-income and foreign exchange markets, analysts say.
OPEC, PUMPING HARD, DROPS MEETING
Oil prices have surged 16 percent in the last three weeks, kept on edge by disruptions to oil supply in Iraq, Norway and Nigeria at a time when the world's spare capacity is at its lowest in more than 10 years.
Capacity has ebbed as OPEC pumps faster to meet rising Chinese and U.S. demand, with the cartel set to boost production by 440,000 bpd to 29.91 million bpd this month due mostly to a recovery in Iraq, consultants Petrologistics said in a report on Friday.
Iraqi exports in the first half of this month came to only 1.4 million barrels per day (bpd), about 400,000 bpd below capacity, as sporadic pipeline sabotage and technical problems hit flows, shipping sources told Reuters. But this was up from June's average 1.2 million bpd exports.
The new data puts OPEC output at its highest since December 1979, according to Geoff Pyne, an independent energy analyst and veteran OPEC watcher.
With only Saudi Arabia holding any significant additional capacity, analysts expect little new oil to emerge when the cartel's ceiling rises another 500,000 bpd from August 1.
The group, which controls around half the world's oil exports, is now pumping more than two million bpd over its new 26 million bpd August quota, according to Petrologistics' data. It estimated OPEC-10 output in July at 27.81 million bpd, up 76,000 bpd over June.
With high oil prices seemingly out of the group's control, ministers canceled next week's planned meeting. It will next meet September 15.
HEATING OIL WORRIES
Distillate supplies in the United States, where the Northeast region is a major winter-time consumer of heating oil, have emerged as an early driver for the energy complex as dealers fretted over the pace of pre-winter inventory building.
Heating oil futures reached a year-and-a-half high of $1.1250 a gallon on Friday, the strongest on record for July, when gasoline is typically the market's strongest product. By the afternoon, it was trading up 1.64 cents at $1.1150.
Seeking to avoid panic buying, the U.S. government Energy Information Administration (EIA) said on Thursday there was plenty of time to boost heating oil inventories before the winter heating season arrives, so traders should not bid up fuel prices.
This week's EIA data reported a significant build up of 2.7 million barrels in middle distillate inventories for the week ended July 9, putting them three percent above this time last year.
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Some Wall St. analist, /yes I spelled it right/ decided to lower our rating from buy to hold or something like that. It never ceases to amaze me how someone on Wall St. can just decide to do that and control an entire industry. Ever notice how over the weekend and overnight stock prices tend to rise, thats because Wall St. and Day traders can't mess with the stocks.
I tend to think AA will show a small profit or a very smaller loss than expected, but thats my 2 cents worth.
I tend to think AA will show a small profit or a very smaller loss than expected, but thats my 2 cents worth.
WingNaPrayer
Veteran
I did, a truckload at $1.38 then when it hit 17.09 SELL SELL SELL! and got every nickel back this airline lost me plus a hefty chunk left over to invest elsewhere. It was risky, but thanks to y'all taking huge paycuts and removing warm nuts from first class, it paid off :blink:
LiveInAHotel
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Hate to bust your nuts, but they're back on certain flights! 😉WingNaPrayer said:
I'm sure you're not the only one who bought at $1.38 and sold high. Even employees like myself did the same thing. I'm glad I did it because I got some money out of AMR that they took from all of us. :angry:
The analyst was reacting to the retirement letter from the APA head re the swelling size of AMR's shortfall vs. the budget used when they agreed to the cuts (and stopped the lawyers literally on their way to the bankruptcy court). In the same report the analyst lowered his price target for Delta to $1.00. He doesn't think the pilots will reach a deal at Delta and the company will file.
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