US Airways Group (LCC) stepped into the earnings spotlight Thursday morning, with the airline reporting a fourth-quarter loss of $79 million, or 49 cents per share -- representing a major improvement over its year-ago deficit of $543 million, or $4.76 per share. Excluding items such as hedging write-downs, US Airways' loss was only 20 cents per share, down from $1.94 in the fourth quarter of 2008.

Meanwhile, revenue dwindled 4.9% to $2.6 billion. Passenger revenue per available seat mile dropped 7%, while load factor backpedaled from 80% to 79.8%. US Airways was able to boost its bottom line even as top-line results suffered, thanks to a 17% decline in operating expenses (mostly due to more favorable fuel costs).

Continue reading US Airways Rises After 4Q Report, but Still Faces Challenges

US Airways Rises After 4Q Report, but Still Faces Challenges originally appeared on BloggingStocks on Thu, 28 Jan 2010 12:30:00 EST. Please see our terms for use of feeds.

US Airways (NYSE: LCC) is trimming 600 ground jobs and closing other services in an effort to cut costs. The airline had hoped not to cut this many positions, anticipating that resignations and departures would do the hard work for it. But employee attrition fell sharply from last year - probably because this isn't exactly the best market for job hunting. Unfortunately, the same reasons that cause employees to stay force US Airways to cut them loose.

At nine airports, US Airways is moving to outside contractors for ramp work. The Las Vegas US Airways Club will close and its staff cut. Also, the walk-up ticket counter at the airline's Tempe, AZ headquarters is on the chopping block.

Continue reading US Airways to slash 600 jobs, asks 400 flight attendants to take furlough

US Airways to slash 600 jobs, asks 400 flight attendants to take furlough originally appeared on BloggingStocks on Wed, 15 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Merger talks between UAL Corporation's (NASDAQ: UAUA) United Airlines and US Airways Group Inc (NYSE: LCC) have been put off for now, the Wall Street Journal reported. United is reportedly close to an alliance with Continental Airlines Inc (NYSE: CAL).
• Harris Corporation (NYSE: HRS) is for sale and the company has begun to hear from interested parties, the Wall Street Journal also reported. Harris is looking for $75 to $80 per share. Speculation about the bidders includes General Dynamics Corporation (NYSE: GD) and Northrop Grumman Corporation (NYSE: NOC).

• The Charleston Gazette reported that Chesapeake Energy Corporation (NYSE: CHK) has decided not to build its Eastern Division headquarters in Charleston, West Virginia in the wake of a West Virginia Supreme Court ruling on May 22.

• AppleInsider reported that Apple Inc (NASDAQ: AAPL) is expected to announce a back-to-school deal soon that will encourage students to buy new Macs by offering some of the largest incentives in the history of the company.

Newspaper wrap-up: United Airlines puts US Airways on hold, talks to Continental originally appeared on BloggingStocks on Fri, 30 May 2008 08:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• H.J. Heinz Co. (NYSE: HNZ) is today expected to increase its sales and profit projections for the next two years, as it reports results of its fiscal year ended April 30. The Wall Street Journal reported that sales are to grow 6% or higher from 4%, while earnings per share growth for the next two years is projected to grow between 8% and 11% from the earlier projection of 7% to 9%.
• It appears that Vistaprint Limited (NASDAQ: VPRT), a graphic design services and printed products company, counts on referral fees from pop up rewards programs on it website for a certain amount of its revenue and profit and also relies on the referral of its customers to outside firms offering rewards programs, which turns out to be a monthly fee for services such as discounts on movies and amusement parks, according to the Wall Street Journal's "Heard on the Street". Some believe the stock, whose shares have plummeted over concerns of slowing revenue and slimmer gross margins, may be trading too high for its own good.
• According to people familiar with their plans, the Financial Times reported that the CEOs of UAL Corporation's (NASDAQ: UAUA) United Airlines and US Airways Group (NYSE: LCC) will today meet to discuss the carriers' potential merger agreement.

• The Independent reported that for the second time this month, Barclays Plc (NYSE: BCS) revised lower its calculation of analysts' consensus for its full-year profit, cutting its 2008 figure by nearly 8% to GBP5.876B pre-tax; Barclays cut the calculation 15% two weeks ago.

Newspaper wrap-up: Heinz expected to raise earnings, sales projections originally appeared on BloggingStocks on Thu, 29 May 2008 08:00:00 EST. Please see our terms for use of feeds.

United Airlines on the move ... originally appeared on BloggingStocks on Mon, 29 Jan 2007 11:35:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: In addition to Palm Inc. (PALM) and Research in Motion (RIMM), four prominent Airlines topped today's list of downgrades.

• Merrill Lynch downgraded shares of Palm, Inc. (NASDAQ:PALM) to Neutral from Buy following the company's reduced second-quarter outlook.
• BMO Capital Markets downgraded Research in Motion Ltd. (NASDAQ:RIMM) to Market Perform from Outperform, citing valuation.
• Benchmark, a boutique firm, downgraded Continental Airlines (NYSE:CAL), JetBlue Airways Corp (NASDAQ:JBLU), US Airways Grp (NYSE:LCC) and UAL Corp (NASDAQ:UAUA) to Hold from Buy, citing valuation.

OTHER DOWNGRADES:

• Quest Software, Inc. (NASDAQ:QSFT) was downgraded at Pacific Crest to Sector Perform from Outperform based on poor visibility and option concerns.
• Finally, Citigroup said shares of Cox Radio (NYSE:CXR) and Cumulus Media, Inc. (NASDAQ:CMLS) have rallied on LBO speculation that is unlikely to prove out in the near-to-intermediate term and that 2007 growth expectations could prove to be optimistic; Citigroup downgraded both companies to Sell from Hold.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 11-28-06: Palm, RIM downgraded originally appeared on BloggingStocks on Tue, 28 Nov 2006 11:18:00 EST. Please see our terms for use of feeds.