News Topic - UAL
Articles 21 - 24 of most recent articles
Moody's cuts UAL Corp. debt ratings to 'Caa1' from 'B2'
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday lowered the corporate family and probability of default ratings of United Airline's parent UAL Corp. to Caa1 from B2 and its secured bank debt rating to B3 from B1. "These rating actions reflect the prospects of a weakening financial profile for United and the rest of the airline industry in the face of persistently elevated fuel prices, as well as potential revenue pressure as the domestic economy weakens," said Moody's in a statement. The outlook is negative. Caa-level credit rating is non-investment grade and is normally viewed as poor quality.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 18, 2008 9:11 PM [GMT] ¦ comment?
found in Business: Markets
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday lowered the corporate family and probability of default ratings of United Airline's parent UAL Corp. to Caa1 from B2 and its secured bank debt rating to B3 from B1. "These rating actions reflect the prospects of a weakening financial profile for United and the rest of the airline industry in the face of persistently elevated fuel prices, as well as potential revenue pressure as the domestic economy weakens," said Moody's in a statement. The outlook is negative. Caa-level credit rating is non-investment grade and is normally viewed as poor quality.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 18, 2008 9:11 PM [GMT] ¦ comment?
found in Business: Markets
Airline stocks struggle to hold altitude; oil prices edge up
NEW YORK (MarketWatch) -- Airlines struggled to maintain altitude early Friday amid some profit taking and as oil prices inched forwarded. The Amex Airline Index shed more than 1% to 17.33 points with just four of its 14 components trading up. Crude for August delivery stood at $129.90 a barrel, up 61 cents, on the New York Mercantile Exchange. Declining ahead of others were shares of American Airlines parent AMR Corp. and Continental , after two days of higher closing thanks to lower oil prices and better-than-expected quarterly results. Up sharply were shares of United Airlines parent UAL Corp. , which was upgraded Friday at J.P. Morgan to overweight.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 18, 2008 1:39 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) -- Airlines struggled to maintain altitude early Friday amid some profit taking and as oil prices inched forwarded. The Amex Airline Index shed more than 1% to 17.33 points with just four of its 14 components trading up. Crude for August delivery stood at $129.90 a barrel, up 61 cents, on the New York Mercantile Exchange. Declining ahead of others were shares of American Airlines parent AMR Corp. and Continental , after two days of higher closing thanks to lower oil prices and better-than-expected quarterly results. Up sharply were shares of United Airlines parent UAL Corp. , which was upgraded Friday at J.P. Morgan to overweight.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 18, 2008 1:39 PM [GMT] ¦ comment?
found in Business: Markets
Reid, Dorgan introduce oil speculation bill
SAN FRANCISCO (MarketWatch) -- A group of Democratic senators said Wednesday they had introduced a bill targeting speculation in oil markets. Among other measures, it would require the U.S. futures regulator to allow only those companies that buy or produce petroleum to be considered legitimate hedgers, a distinction that could cut into the ability of large investment banks to use exchange-traded futures to offset swaps with financial investors such as pension funds. The Stop Excessive Energy Speculation Act of 2008, introduced late Tuesday by Sen. Majority Leader Harry Reid, D-Nevada, Sen. Charles Schumer, D-N.Y., Sen. Byron Dorgan, D-N.D., and Sen. Patty Murray, D-Wash., would also give the Commodities Futures Trading Commission more resources and authority to demand data from large traders. Reid, speaking from the floor of the U.S. Senate, said he had spoken to UAL Corp. CEO Glenn Tilton several times about the need for such changes. On July 15, 2008, Senators Reid, Durbin, Schumer, Dorgan, and Murray introduced S. 3268, the Stop Excessive Energy Speculation Act of 2008. This legislation, developed after consultation with consumer advocates, oil market analysts, and experts from the financial and airline industries, seeks to reduce the amount of excessive speculation in the oil markets. Specifically, the legislation would increase the resources and authority needed by the Commodities Futures Trading Commission (CFTC) to detect, prevent, and punish price manipulation and excessive speculation and give the CFTC emergency authority needed to rapidly implement the legislation. S. 3268 would also strengthen the amount and quality of information available to the CFTC so that the Commission can better regulate all aspects of the energy futures markets. In addition, the Stop Excessive Energy Speculation Act of 2008 would provide better transparency in the trading of energy derivatives by closing the "London Loophole" so that oil traders using a foreign exchange cannot manipulate the price of oil in the United States. Finally, the legislation would require the CFTC to implement position limits to restrict excessive speculation that would still allow for reasonable trading for price discovery, liquidity, and legitimate hedging purposes. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 16, 2008 7:28 PM [GMT] ¦ comment?
found in Business: Markets
SAN FRANCISCO (MarketWatch) -- A group of Democratic senators said Wednesday they had introduced a bill targeting speculation in oil markets. Among other measures, it would require the U.S. futures regulator to allow only those companies that buy or produce petroleum to be considered legitimate hedgers, a distinction that could cut into the ability of large investment banks to use exchange-traded futures to offset swaps with financial investors such as pension funds. The Stop Excessive Energy Speculation Act of 2008, introduced late Tuesday by Sen. Majority Leader Harry Reid, D-Nevada, Sen. Charles Schumer, D-N.Y., Sen. Byron Dorgan, D-N.D., and Sen. Patty Murray, D-Wash., would also give the Commodities Futures Trading Commission more resources and authority to demand data from large traders. Reid, speaking from the floor of the U.S. Senate, said he had spoken to UAL Corp. CEO Glenn Tilton several times about the need for such changes. On July 15, 2008, Senators Reid, Durbin, Schumer, Dorgan, and Murray introduced S. 3268, the Stop Excessive Energy Speculation Act of 2008. This legislation, developed after consultation with consumer advocates, oil market analysts, and experts from the financial and airline industries, seeks to reduce the amount of excessive speculation in the oil markets. Specifically, the legislation would increase the resources and authority needed by the Commodities Futures Trading Commission (CFTC) to detect, prevent, and punish price manipulation and excessive speculation and give the CFTC emergency authority needed to rapidly implement the legislation. S. 3268 would also strengthen the amount and quality of information available to the CFTC so that the Commission can better regulate all aspects of the energy futures markets. In addition, the Stop Excessive Energy Speculation Act of 2008 would provide better transparency in the trading of energy derivatives by closing the "London Loophole" so that oil traders using a foreign exchange cannot manipulate the price of oil in the United States. Finally, the legislation would require the CFTC to implement position limits to restrict excessive speculation that would still allow for reasonable trading for price discovery, liquidity, and legitimate hedging purposes. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 16, 2008 7:28 PM [GMT] ¦ comment?
found in Business: Markets
Airline stocks hit new lows as the dollar's strength fades
NEW YORK (MarketWatch) -- Airline stocks dropped further to new lows on Tuesday after the dollar reached record lows against the Euro, helping to raise the price of benchmark crude. At last check, the Amex Airline Index slipped 2.7% to 13.24 points, just off its all-time low of 13.22 points struck earlier in the session. All of its 14 components were trading down. Crude for August delivery gained to $146.44 a barrel, up $1.26, in electronic trading on Globex. Hitting new lows were shares of American Airlines parent AMR Corp. at $4, Continental at $6.25, Delta Air Lines at $4.34, Northwest at $5.13, United parent UAL Corp. at $3.26, and US Airways at $1.76.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 15, 2008 1:42 PM [GMT] ¦ comment?
found in Business: Markets
NEW YORK (MarketWatch) -- Airline stocks dropped further to new lows on Tuesday after the dollar reached record lows against the Euro, helping to raise the price of benchmark crude. At last check, the Amex Airline Index slipped 2.7% to 13.24 points, just off its all-time low of 13.22 points struck earlier in the session. All of its 14 components were trading down. Crude for August delivery gained to $146.44 a barrel, up $1.26, in electronic trading on Globex. Hitting new lows were shares of American Airlines parent AMR Corp. at $4, Continental at $6.25, Delta Air Lines at $4.34, Northwest at $5.13, United parent UAL Corp. at $3.26, and US Airways at $1.76.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Jul 15, 2008 1:42 PM [GMT] ¦ comment?
found in Business: Markets