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MarketScreener Homepage  >  Equities  >  Nasdaq  >  American Airlines Group Inc.    AAL

AMERICAN AIRLINES GROUP INC.

(AAL)
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Wall Street closes higher as energy, financials lead broad rally

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09/28/2020 | 04:22pm EDT
A nearly empty trading floor is seen as preparations are made for the return to trading at the NYSE in New York

Wall Street rallied to close sharply higher on Monday as investors sought bargains among sectors hardest-hit by the coronavirus recession, now limping toward its ninth month.

All three major U.S. stock indexes made solid gains on the heels of the longest weekly losing streak in over a year for both the S&P 500 and the Dow.

But energy and financials, which suffered the most bruising blows from the economic shutdown, enjoyed the largest percentage gains among major S&P 500 sectors, all of which ended the session in the black.

"Today's market is being led by energy and financials, but it's a very well-balanced market," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Every sector is participating in this rally."

However, even with Monday's jump, the indexes are only days away from closing the books on their first monthly declines since March, when markets were sent into a freefall by pandemic-related lockdowns.

"Given that it's been a weak month, some rebalancing may be occurring," Ghriskey added. "The rebalancing would move allocations to equities and some of that may be happening today."

The third quarter also draws to a close on Wednesday, and despite September's expected loss, the S&P and the Nasdaq are on course for their best two-quarter winning streaks since 2009 and 2000, respectively.

Market leaders Apple Inc and Amazon.com once again gave the biggest boost to the S&P 500 and the Nasdaq.

The lack of a COVID-19 vaccine and an additional fiscal stimulus package from Washington have weighed on the markets in recent sessions.

But U.S. House of Representatives Speaker Nancy Pelosi said in an MSNBC interview that stimulus talks with Treasury Secretary Steven Mnuchin are due to continue on Monday, suggesting a possible progress to end the stalemate.

"I'm not sure there's any chance of it happening before the end of the year but it's in the news and giving some traders some confidence," said Ghriskey.

The Dow Jones Industrial Average rose 410.1 points, or 1.51%, to 27,584.06, the S&P 500 gained 53.14 points, or 1.61%, to 3,351.6 and the Nasdaq Composite added 203.96 points, or 1.87%, to 11,117.53.

American Airlines Group Inc announced late Friday that it has secured a $5.5 billion government loan, and might access more. The news sent the commercial carrier's stock up 3.8%.

This also gave a lift to the broader airline sector. The S&P 1500 Airlines index <.SPCOMHOME> closed 4.1% higher.

Boeing extended Friday's gains, rising 6.4% after Federal Aviation Administration Chief Steve Dickson said the agency would conduct a 737 MAX evaluation flight this week.

Devon Energy Corp said it would buy peer WPX Energy Inc for $2.56 billion, sending their shares jumping 11.1% and 16.4%, respectively.

Ride-hailing platform Uber Technologies Inc rose 3.2% after a judge ruled the company could resume operations in London.

Advancing issues outnumbered declining ones on the NYSE by a 5.27-to-1 ratio; on Nasdaq, a 3.25-to-1 ratio favored advancers.

The S&P 500 posted 6 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 35 new lows.

Volume on U.S. exchanges was 8.74 billion shares, compared with the 10.05 billion average over the last 20 trading days.

By Stephen Culp


Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.31% 3217.01 Delayed Quote.74.10%
AMERICAN AIRLINES GROUP INC. 1.91% 12.8 Delayed Quote.-55.37%
APPLE INC. 1.32% 117.51 Delayed Quote.60.07%
DEVON ENERGY CORPORATION 1.24% 8.97 Delayed Quote.-65.46%
DJ INDUSTRIAL 0.40% 28308.79 Delayed Quote.-0.80%
NASDAQ 100 0.37% 11677.835778 Delayed Quote.33.22%
NASDAQ COMP. 0.33% 11516.494418 Delayed Quote.28.35%
S&P 500 0.47% 3443.12 Delayed Quote.6.07%
THE BOEING COMPANY 0.08% 167.24 Delayed Quote.-48.70%
UBER TECHNOLOGIES, INC. 6.11% 36.31 Delayed Quote.22.09%
WPX ENERGY, INC. 0.89% 4.56 Delayed Quote.-66.81%
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Financials (USD)
Sales 2020 16 882 M - -
Net income 2020 -8 432 M - -
Net Debt 2020 30 688 M - -
P/E ratio 2020 -0,65x
Yield 2020 0,93%
Capitalization 6 510 M 6 510 M -
EV / Sales 2020 2,20x
EV / Sales 2021 1,33x
Nbr of Employees 107 400
Free-Float 98,9%
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American Airlines Group Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMERICAN AIRLINES GROUP INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 11,66 $
Last Close Price 12,80 $
Spread / Highest target 111%
Spread / Average Target -8,94%
Spread / Lowest Target -92,2%
EPS Revisions
Managers
NameTitle
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
David G. Seymour Senior Vice President-Operations
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN AIRLINES GROUP INC.-56.21%6 388
SOUTHWEST AIRLINES-26.18%23 506
JUNEYAO AIRLINES CO., LTD-30.07%3 066
ALLEGIANT TRAVEL COMPANY-23.83%2 114
CHINA EXPRESS AIRLINES CO.,LTD62.93%2 060
VIETNAM AIRLINES-24.00%1 597