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American Airlines stepped up inspections and hoped to have all of its 300 MD-80 aircraft ready to go Saturday afternoon its first full daily schedule in a week on Sunday.
First Alcoa, then GE missed earnings. This is a rare occurrence, and as a result the Street is changing its mindset. They are expecting more conservative guidance, and looking for places where negative surprises might pop up.
Air traveler angst was sure to continue Friday as American Airlines grounded hundreds more flights. The financial toll and loss of goodwill likely would grow as well, as the inspection-related mess spread further to other carriers and hurt an industry already bleeding cash thanks to high fuel costs.
Short-dated U.S. Treasury debt prices gained Tuesday on firming expectations for Federal Reserve interest rate cuts in the face of a sagging economy.
The news was not particularly good today, and so a modest drop was certainly a decent performance. Consider: 1) semis weak on AMD's poor guidance 2) materials mixed on Alcoa below estimates 3) Fed minutes full of concern about economic slowdown
Stocks closed lower amid more bad news in the financial sector and a report showing the Federal Reserve is more worried about a recession than it has previously indicated.
European shares snapped a two-day winning streak to end Tuesday 1 percent lower, led down by banks on persistent worries of more losses from a global credit crisis, and by weakness in technology shares.
Stocks struggled back to level ground after investors shrugged off a slew of bad news from technology companies, real estate and banks.
There's plenty of hand wringing around first quarter earnings, and Alcoa didn't help by kicking off the reporting season with a miss.
Stocks held lower on a slew of bad news, as troubles in technology, more signs of weakness in the banking system and a reminder that the housing slump is far from thwarted a week-long mostly positive run on Wall Street.
With Alcoa's report yesterday afternoon, the official start to earnings season is here. Here are the current forecasts from Thomson Financial...
Stocks opened broadly lower as a slew of warnings that company earnings would slip in the first quarter, especially in technology, combined with more fear in the financial sector to dampen the recent positive run on Wall Street.
Futures are down slightly, but have been stable throughout the morning, despite rather downbeat commentary from Alcoa and AMD. Metals a bit weaker (the IMF sold 12 percent of its gold stake, so gold is down 1 percent), dollar fairly stable, Europe down about 1 percent on average.
U.S. stock index futures were lower on Tuesday after Alcoa opened the earnings season with a fall in profit and AMD said it would slash 10 percent of its workforce.
Which stocks are worth buying as Alcoa kicks off earnings season Monday?
The Dow was little changed on Monday as rising oil prices stoked fears that corporate profits could suffer. What's the Word on the Street?
Alcoa reported earnings that came up short of analysts' consensus estimates because of higher costs and a weaker dollar, but the company's sales beat forecasts.
A rally in commodities and financials was halted midday as Arch Coal gave guidance for the full year that disappointed investors. It was a reminder that the upcoming earnings season was likely to provide a fair share of disappointments. This was confirmed after the close, when aluminum giant Alcoa also reported earnings that were below expectations;
Stocks finished flat Monday as traders opted to pull over and let some of the earnings traffic pass before deciding what to do next.
Until that $5 billion infusion is a done deal, Cramer remains "skeptical."