CSX Corp. (NYSE: CSX) is showing exactly why Warren Buffett has been so pessimistic lately. Q2 2009 earnings were $308 million or $0.78 EPS. This is down from $385 million, or $0.93 EPS, a…
DryShips Inc. (NASDAQ: DRYS) is making an acquisition. The marine transporter for drybulk cargoes and off-shore contract drilling services will acquire the remaining 25% of the stake in Primelead Shareholders. Primelead will become a…
Airline price wars are back, just when carriers cannot afford them. The price of jet fuel is up. Passenger traffic is down. Southwest (LUV) is offering fare as low as $30 one way on…
It seems pointless to spend a lot of time proving that companies are more likely to go bankrupt during a recession. Margins are hurt by bad sales. Firms cannot easily get access to capital…
British Airways has announced it will cut its capital spending this year by another 20% to 580 million pounds. It is in the process of negotiating with its unions to significantly reduce jobs. Sharp…
Boeing Co. (NYSE: BA) has announced yet another delay to the 787 Dreamliner. The aerospace giant has announced that first flight of the 787 Dreamliner will be postponed due to a need to reinforce…
All of the fuel-hedging, layoffs, capacity and route-cutting the airline industry did last year in an attempt to offset the rising price of fuel has gone for nothing. Delta (DAL) announced today that it…
The International Air Transport Association has doubled its estimates for global airline industry losses compared to its figure of three months ago. That presages another round of carrier bankruptcies similar to these in the early…
The International Air Transport Association says that its forecast that the world’s airlines will loss $4.7 billion this year appears to be much too low. Passenger and freight loads are still well down compared…
JetBlue Airways Corporation (NASDAQ: JBLU) has announced that it intends to offer some 20 million shares of common stock. It also plans to offer an aggregate of $150 million in convertible debentures in two…
DryShips Inc. (NASDAQ: DRYS) is seeing a surge of interest this morning after the company said it had completed its “ATM” financing of some $475 million in gross proceeds. Merrill Lynch acted as sales…
British Airways posted a deficit for its most recent fiscal year. The company lost $595 million. Part of that was because fuel costs rose 45% to more than $4 billion. Fuel costs may have been…
YRC Worldwide Inc. (NASDAQ: YRCW) has not been without its problems. We recently saw reports about how it was trying to raise funds from the government and we have just seen an SEC filing…
Both FedEx Corporation (NYSE: FDX) and United Parcel Service, Inc. (NYSE: UPS) are likely watching government competition for next week. Starting on Monday, the price of most traditional mail will rise. This will have…
Sirius and XM Satellite Radio were among the great cult stocks of the last decade. They were heavily traded and volatile. Investors expected their business to be the most important development in consumer electronics…