Posts for Ticker ‘PNCL’

Pinnacle’s Delta Connection Contract Terminated (PNCL, DAL, MESA)

Pinnacle Airlines Inc. (NASDAQ: PNCL) might as well have its wings clipped if you look at the news from this morning.   Delta Air Lines, inc. (NYSE: DAL) has given notice of contract termination regarding its Delta Connection contract with Pinnacle.  The effective date is on July 31.

Delta Air Lines claims that Pinnacle (NASDAQ: PNCL) did not meet the minimum arrival-time performance requirements for a period since flights began late last year, and Pinnacle plans to fight this contract termination as the airline said factors affecting on-time performance are beyond its control.  Pinnacle’s CEO said its operational schedule is created by Delta and is a key component of on-time performance.

If this sounds familiar from Delta, there is a reason.  Mesa Air Group (NASDAQ: MESA) saw a similar move in April, when Delta’s announced its intent to terminate its Delta Connection program with Mesa’s Freedom Airlines Inc.  The problem was similar: due to a problem with the number of flights Freedom completed.  However, last month Mesa won a preliminary injunction against Delta to keep Delta from canceling the contract.  The ultimate and final outcome there is still pending.

Pinnacle is now trading at another 52-week low, which is becoming all too familiar in the airline industry.  Shares are down 20% at $4.76 after 45 minutes of trading.  The 52-week trading range is (well, was) $5.90 to $20.34.

If we weren’t in an environment of $130+ oil right now, you have to wonder if Delta would be trying to cancel its partnerships or not.  Tattoo is chasing them right now. You can hear him.  "Boss! The pain! The pain!"

Jon C. Ogg
June 10, 2008

Posted on: June 10, 2008 – 9:21 am in Airlines, , ,

52-Week Low Club (AIR, AVR, LNG, CLX, CTAS, DELL, XXIA, LNET, MNST, PNCL, SSCC)

These are far from all of the lows, but these are many highlighted stocks that traders will care about.  The prices for today are based on the last hour of trading and prior ranges rather than the closing prices for this Friday.

AAR Corp. (NYSE: AIR) hit a new low today on no direct news from a 52-week range of $22.06 to $39.42.  Shares were down over 7% late in the day at $20.91.  Hmm.. products, services, and maintenance to the airlines.  Go figure.

Aventine Renewable Energy Holdings, Inc (NYSE: AVR) down to a new low despite an upgrade by Broadpoint Capital. Ethanol stocks have dipped this month after a report that corn-supplies will be tight this year. Hit a new low of $4.22 late in the day from a 52-week range of $4.39 to $20.85.

Cheniere Energy Inc. (AMEX: LNG) down today on a downgrade by Lehman Brothers yesterday, despite announcements that its LNG terminal in Louisiana will begin to receive shipments on August 12. Shares down over $2.00 to new low of $16.17 off a 52-week range of $18.40 to $43.50.  This huge drop almost seems counterintuitive with sub-projects coming online and with energy prices in the stratosphere, but that downgrade from Lehman yesterday is ruling the roost.

Clorox Co. (NYSE: CLX) down to lowest points since 2004. Thursday, a Bernstein analyst estimated that third-quarter earnings could be lower than previously expected. Shares hit as low as $55.16 earlier today on a 52-week range of $55.37 to $69.36.  Maybe the public realized how bad bleach is for the water supply.

Cintas Corp. (NASDAQ: CTAS) dropped to a new low after a downgrade by Lehman Brothers. Shares hit a new low of $27.35 before recovering late in the day on a 52-week range of $27.41 to $41.04.  Uniform sales… what gets cut as employees get fired and as businesses trim expenses? Oh yeah, uniforms.

Dell Inc. (NASDAQ: DELL) fell along with the market today with the other computer companies. They just happened to hit a new low. They dropped to $18.44 on a 52-week range of $18.53 to $ 30.77.  The good news is that late in the day shares were back above the prior low.  The bad news is that nothing is going its direction.

Ixia (NASDAQ: XXIA) taking a hit from downgrades by JMP Securities and Ferris Baker Watts. They also cut their own guidance for first quarter estimates. It hit a new low of $6.30 off a 52-week range of $6.51 to $10.70.

LodgeNet Interactive Corporation (NASDAQ: LNET) down to a new low of $5.70 today. Apparently good hospitality isn’t enough keep the shareholders comfortable. The 52-week range is $5.90 to $38.11.  As people cut back, maybe those in-hotel movies are easier to cut spending on.

Monster Worldwide, Inc. (NASDAQ: MNST) hit a new low today with a 52-week range of $23.00 to $50.28. It shouldn’t be out of a job anytime soon but if it is, it will know where to look.  Shares down almost 4% at $22.20 late in the day.

Pinnacle Airlines Corp. (NASDAQ: PNCL) taking a hit in the wake of Frontier Airlines bankruptcy scare. Hit a new low of $8.22 on a 52-week range of $8.43 to $20.34.  Stock edged back above that $8.50 level in last 20 minutes today.

Smurfit-Stone Container Corp. (NASDAQ: SSCC) dipped to a new low off a 52-week range of $6.65 to $14.08.  Shares were at $6.35 in the last 20 minutes today, down almost 8%.  paperboard and packaging… what gets cut when stuff stops selling stores?  Oh yeah, the packaging.

Jon C. Ogg
April 11, 2008

Posted on: April 11, 2008 – 2:55 pm in HI/LOW, , , , , , , , , , ,

THe 52-Week Low Club (DGX, ED, KDE, SIRF, TWPG, FRNT, PNCL)

Quest Diagnostics Inc. (NYSE: DGX). Cost pressure strains on the health care sector hurting this stock. New low of $43.65 compared to a 52-week high of $58.63.

Consolidated Edison Inc. (NYSE: ED). Poor reaction to volatile fuel prices slid this stock to $39.78 from a 52-wek range of $40.10 to $52.90.

4 Kids Entertainment Inc. (NYSE: KDE). The new low keeps getting lower after a quarter losses posted last week and the economy slows. Down 7% to a new low of $9.56. The 52-week range is $10.19 to $19.90.

SiRF Technology Holdings Inc. (NASDAQ: SIRF). Tuesday’s announcement that job cuts will result from lower sales and UBS analyst predictions that Sirf’s competitive edge will continue to decline dropped the company to a new low of $4.71 from a 52-week range of $4.90 to $30.61

Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG). The bank may have upgraded its security software today, but share prices are anything but secure. New low of $6.81 from a previous 52-week range of $6.99 to $20.80

Huge gains in oil and more FAA inspections not helping any airlines, but these were on lows: Frontier Airlines Holdings, Inc. (NASDAQ: FRNT) Down to $2.05 from a previous range of $2.10 to $7.46. Pinnacle Airlines Corp. (NASDAQ: PNCL) New low of $8.94 from range of $9.13 to $20.34/

Douglas A. McIntyre.

Posted on: March 26, 2008 – 3:00 pm in HI/LOW, , , , , , ,