Stocks Continue to Slide
Stocks Continue to Slide
Stocks fell again on Wednesday as negative earnings news and more flight cancellations, this time by American Airlines, cast a shadow over Wall Street.
The Dow fell -49.18, the Nasdaq Composite -26.64 and the S&P 500 -11.05.
Boeing
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PowerRating) announced delivery of its 787 Dreamliner will be delayed by another six months, putting it 15 months behind schedule. Despite the apparently bad news, BA shares rose 4.8%.
AMR Corp‘s
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PowerRating) American Airlines cancelled more than 1,000 flights after a Federal Aviation Administration inspection. AMR lost 11.1%.
Shares of United Parcel Service
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PowerRating) fell 3.7% after the company warned it would miss first quarter earnings estimates.
Citigroup
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PowerRating) is selling nearly $12 billion in leveraged loans in an attempt to strengthen its balance sheet.
Circuit City
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PowerRating) reported earnings of $0.10 per share, $0.17 better than expected.
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