AMR Corporation (NYSE: AMR) was halted, but not for ‘News Pending’ as you often see. This morning’s halt was after a single circuit-breaker was triggered. No news has been issued by the company. There has been increased speculation about finances, pension costs, and other ongoing concerns that the market has about American Airlines. Again, this seems to be speculation rather than any rumors being concrete.
Earnings are due on Wednesday and it seems that if AMR can get the numbers together and can manage to get a better public response together it might want to consider doing so.
It has barely been two weeks when shares went from north of $3.00 on a Friday and went as low as $1.75 on that Monday after some aggressive reporting signaled that expedited early retirement trends from the pilots was signaling bankruptcy concerns.
When AMR defended itself and tried to deny this intention, the wording was such that anything was actually being left open as a scenario even if it was not preferred.
AMR shares are now down 6% at $2.75 on more than 6 million shares in less than two hours of trading, but the low for the day was $2.61.
JON C. OGG
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