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Producers for American Crude Oil Exports, or PACE, is the first lobbying group to form to reverse the trade restriction passed by Congress in the 1970 s after the Arab oil embargo caused fears of domestic oil shortages. As the U.S. oil boom of the last six years builds an excess of crude, calls have risen for Congress and the Obama administration to relax the ban.
CHICAGO— Fitch is upgrading Delta's credit rating, citing its improved balance sheet, solid operating performance and better-than-expected free cash flow. Fitch boosted Delta Air Lines Inc.' s issuer default rating one notch in junk status to "BB" from "BB-." The Atlanta company's stock added $1.11, or 2.9 percent, to $39.03 in Friday afternoon trading.
Congress passed the trade restriction in the 1970 s after the Arab oil embargo caused fears of domestic oil shortages. The group of 14 producers has "united to create an advocacy initiative to help repeal the outdated ban on crude oil exports," Daren Beaudo, a spokesman for ConocoPhillips, one of the member companies, said in an email. The U.S. drilling boom of the past...
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. rose. 6 percent to $33.87 with 28,797,000 shares traded. Bank of America Corp. rose. 7 percent to $16.72 with 39,556,100 shares traded.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. fell 2.4 percent to $33.66 with 54,340,400 shares traded. Advanced Micro Devices Inc. rose 1.9 percent to $2.69 with 23,669,400 shares traded.
DALLAS— Profits are soaring at the biggest U.S. airlines as fuel prices drop— but don't expect fares to fall too. —The world's biggest airline operator, American Airlines Group Inc., earned an all-time best $942 million profit in the June-through-September quarter, nearly double the amount that American and US Airways earned separately last year before their...
Oct 23- Several U.S. airlines reported strong third-quarter profits on Thursday, helped by falling fuel costs, with many topping Wall Street's earnings per share estimates. The exception was United Airlines which fell 1.4 percent after it projected unit revenue for the current quarter below Wall Street's expectations. However, the Chicago- based carrier as...
The 27 percent rise in quarterly profits reflected an increase in passenger boardings and lower fuel costs.
*Gulf airlines using Italy as base for expansion. Italy is Europe's fourth largest travel market, one of the world's top tourist destinations and its thriving fashion and leather industry underpin demand for business travel. That is taking passengers away from Germany's Lufthansa, British Airways and Air France-KLM in Europe, and Delta Air Lines and American...
MINNEAPOLIS— A Delta Air Lines plane clipped wings with a smaller jet as the two were preparing to take off from Minneapolis-St. Paul International Airport on Wednesday night, officials said. The smaller Embraer jet, flown by the Delta feeder Compass Airlines, was bound for Louisville, Kentucky, and had 74 customers on board. Federal Aviation Administration...
Thirty-two stocks in the S&P 500 have rebounded 10 percent or more since the market's low last week, including Chesapeake Energy, Delta and Southwest.
The price of a domestic one-way airline ticket is on the rise. And getting the increase to stick wasn't easy.
The S&P sectors leading the market rebound are the same groups that led the decline: Materials, energy and industrials.
Art Cashin of UBS Financial Services says oil above $82 is supportive of the market, helping major averages recover from last week's whipsaw action.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. Bank of America Corp. rose 1.4 percent to $16.48 with 43,696,500 shares traded. Coca-Cola Co. fell 6.1 percent to $40.67 with 33,182,900 shares traded.
Some of Tuesday's midday movers:
A number of old-school industrial companies and and multi-industry conglomerates have given investors something to cheer about with upbeat guidance.
Some of the names on the move ahead of the open.
The airlines are raising base fares on many domestic flights despite windfalls from lower fuel prices.
Oct 20- Major U.S. airlines have raised domestic one-way fares by $2 on average since Thursday, marking the first industry wide increase in half a year. The news may quell investors' concern that airline revenue will fall if the Ebola virus discourages people from traveling, and the stocks of Delta Air Lines, American Airlines and United Airlines rose on average...