Market News
Citigroup (C)
Citigroups' life insurance unit, Primerica, filed for an initial public offering of up to $252 million as part of Citigroup's plan to shed assets outside its main banking business. Citi expects to sell 18 million Primerica shares to the public and 17.2 million shares to private equity firm Warburg Pincus, plus warrants. Post-IPO, Citi's stake will be 32%-46%, while Warburg Pincus' stake will be 23%-33%.
Mar 18 · 11:14:00 AM
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Delta Air Lines (DAL)
All the legacy carriers reduced their work forces in January except for Delta Air Lines Inc. (NYSE:DAL), which for the first month reported combined numbers with Northwest Airlines, which Delta bought in 2008, according to Fox Business. AMR Corp.'s (NYSE:AMR) American Airlines and Continental Airlines Inc. (NYSE:CAL) tied for the biggest network-carrier decline, at a 4.7% drop in employment. Even including Delta's 67% increase in work rolls, legacy carriers' overall employment was down 2.3%.
Discount carriers increased their work force 1.4% in January from a year earlier. Market leader Southwest Airlines Co. (NYSE:LUV) had 2.1% fewer employees, but it was the only low-cost carrier to shrink its pool of workers. Smaller rivals Frontier Airlines Holdings Inc. (FRNTQ) and Virgin America, partly owned by the U.K.'s Virgin Group, posted 16% and 14% increases.
Mar 17 · 12:43:00 PM · Source: Fox Business
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) the star performer in improving its unit revenues in recent months, continued to trump JetBlue, Continental Airlines and US Airways in this metric in Feb-2010, and was joined by United Airlines in reporting double-digit PRASM (Passenger Revenue per Available Seat Mile) in the month, according to the Centre for Asia Pacific Aviation. Encouragingly, all the US carriers reporting monthly unit revenue figures registered growth in the month, with AirTran and Allegiant, which do not provide such updates, separately commenting of "improved" conditions in the market.
The lucrative business market, while recovering, is yet to return to pre-crisis levels, maintaining the pressure on the profitability and revenue outlook. The unit revenue figures were also inflated in the month, due to weather-related cancellations, which resulted in significant cancellations (and capacity reductions) across the US domestic network.
Mar 17 · 12:09:00 PM · Source: Centre for Asia Pacific Aviation
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
China Eastern Airlines (CEA)
China Eastern Airlines (NYSE:CEA) received its parent’s stake in a cargo venture with Singapore Airlines as part of a plan to consolidate the carrier’s air-freight operations, according to China Economic Review. Chairman Liu Shaoyong said China Eastern has already taken over management of Great Wall Airlines. Great Wall Air is 51% owned by China Eastern Air, 25% by Singapore Air’s cargo unit and 24% by Temasek, the Singapore state-owned investment company.
BusinessWeek reports the carrier has begun to reorganize operations after buying Shanghai Air to boost its market share in its home city. China Eastern also faces increasing competition in the freight market from a planned Air China-Cathay Pacific venture.
Mar 17 · 11:53:00 AM · Source: China Economic Review
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
U.S. Bancorp (USB)
The board of directors of U.S. Bancorp (NYSE: USB) has declared a quarterly dividend of $0.05 per common share, payable April 15, 2010, to shareholders of record at the close of business on March 31, 2010. At this quarterly dividend rate, the annual dividend is equivalent to $0.20 per common share.
Mar 17 · 11:13:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
MetLife (MET)
MetLife, Inc. announced today that its life insurance subsidiary,
Metropolitan Life Insurance Company, approved an aggregate payment amount of
approximately $1.5 billion in policy dividend payments to eligible life
insurance policyholders for 2010.
The company says the dividend payout not only reflects MetLife`s financial strength and stability, but also its commitment to its policyholders today and for the future
Mar 17 · 11:11:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
J.P. Morgan (JPM)
JPMorgan Chase & Co. today declared a quarterly dividend of 5 cents per
share on the outstanding shares of the Corporation`s common stock. The dividend
is payable on April 30, 2010, to stockholders of record at the close of business
on April 6, 2010
Mar 17 · 11:07:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Bank of America (BAC)
Investors have recovered their bullishness towards equity markets but are shifting their focus away from Europe and into the U.S. and Japan, according to the BofA Merrill Lynch Survey of Fund Managers for March.
Mar 17 · 11:05:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Previous · Next
Advertisement