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BP logoShares 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.

Continue reading BP Bounces Off 52-Week Low

BP Bounces Off 52-Week Low originally appeared on BloggingStocks on Thu, 10 Jun 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bpcitigroupDividendsfeaturedgulf oil spillinthenewsmajor movesoiloil spillThu, 10 Jun 2010 18:00:00 EST<![CDATA[American (AMR) crash lands on Wall Street]]>http://www.bloggingstocks.com/2008/05/21/american-amr-crash-lands-on-wall-street/http://www.bloggingstocks.com/2008/05/21/american-amr-crash-lands-on-wall-street/http://www.bloggingstocks.com/2008/05/21/american-amr-crash-lands-on-wall-street/#commentsFiled under: , , , , , , , ,

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

American (AMR) crash lands on Wall Street originally appeared on BloggingStocks on Wed, 21 May 2008 17:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>American AirlinesAmericanAirlinesAMRbad newsBadNewsfeaturedmajor movesMajorMovesoiltourismtravelWed, 21 May 2008 17:55:00 EST