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major moves posts

BP Bounces Off 52-Week Low

Posted Jun 10th 2010 6:00PM by Michael Fowlkes (RSS feed)
Filed under: Major Movement, Other Issues, BP p.l.c. ADS (BP), Oil

Shares of BP PLC (BP) have been in free fall the past month as investors worry whether or not the company is going to be able to deal with the oil disaster in the Gulf, but the stock made a nice move today, gaining 12.3% on the day to close the session at $32.78.

While today's price jump was impressive, it was still not enough to make up for the 16% drop we saw yesterday, which marked the stock's worst trading day since 1972.

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American (AMR) crash lands on Wall Street

Posted May 21st 2008 5:55PM by Michael Fowlkes (RSS feed)
Filed under: Bad News, Products and Services, Industry, Consumer Experience, Competitive Strategy, Employees, AMR Corp (AMR), Oil, Recession

Shares of AMR Corp. (NYSE: AMR) crashed today on Wall Street on a string a bad news out of its principal subsidiary, American Airlines, as current record-high oil prices continue to wreak havoc on the airline industry.

Oil prices have been continuing to soar, and earlier today crude traded through the $133 mark, and nearly busted $134, trading as high as $133.82.

What does this mean for airlines? You guessed it... major changes in order to combat the rising costs of keeping their planes in the air, and after announcing a few new changes today, AMR took the full brunt of Wall Street, as nervous traders pushed the already beaten-up stock down another 24.2%.

So what exactly got the market so spooked? Well, I am not really sure which of the following was the final nail in the coffin; you can almost just take your pick:

The company announced that it would be slashing the number of flights that it offers
The company announced that it would start charging for all checked luggage
And, last but not least, the company is being forced to reduce its workforce

Continue reading American (AMR) crash lands on Wall Street