Yeah nice pop - reminded me of EK a bit.  Got out at 2.30.  So many bounce plays lately lol

Good job. I got out at 2.37. I was in at 2.05. Not a lot of gains but I'm so happy that I made some extra money on it.
 

Quote:

Originally Posted by pftq 

Yeah nice pop - reminded me of EK a bit.  Got out at 2.30.  So many bounce plays lately lol

It looks like pilots and the company will agree on the contract over the next couple of days.  Keep in mind that if that happens we might see a very nice rally.  Pilots, flight attendants and ground crew have been working with no contract for some time now.  

On the same note, AMR is planning on clothing it's crew base in San Francisco as the means of cutting cost.

Personally, looking for another good if not great run.  If we break $3.20 we are going to see (at least) $3.60

Keep in mind their Q3 result will be announce next week. Oct 19th before bell. I may initiate a long position if it pulls back to 2.8 level before Tuesday. 

 

Quote:

Originally Posted by Matrix2055 

It looks like pilots and the company will agree on the contract over the next couple of days.  Keep in mind that if that happens we might see a very nice rally.  Pilots, flight attendants and ground crew have been working with no contract for some time now.  

 

On the same note, AMR is planning on clothing it's crew base in San Francisco as the means of cutting cost.

 

Personally, looking for another good if not great run.  If we break $3.20 we are going to see (at least) $3.60

If you gamble airlines stock, watch out for AMR in a year.  If everything moves as planed AMR will be done with all of it's ground and terminal projects (ex: JFK, LGA, DFW, MIA).  Right now lot's of money is going in to all projects, but once they are done(Q2 nest year), the balance sheet will look much-much better.

Quote:

Originally Posted by ibuddler 

Keep in mind their Q3 result will be announce next week. Oct 19th before bell. I may initiate a long position if it pulls back to 2.8 level before Tuesday.  

 

AMR’s American Eagle Spinoff Slips to 2012 as Unit’s Pilots Weigh Contract

Full article

I think the most interesting in this article is: 

I get to wonder, what would be the ratio.  Eagle on it's own generated $2.02Bil in revenue for the first 9 month of 2011.  

American Airlines Parent AMR Corp. Files for Bankruptcy

http://www.bloomberg.com/news/2011-11-29/amr-files-for-bankruptcy-protection-in-new-york-as-talks-with-pilots-end.html

American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.

With the filing, American became the final large U.S. full- fare airline to seek court protection from creditors. The Fort Worth, Texas-based company, which traces its roots to 1920s air- mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in Chapter 11 papers filed today in U.S. Bankruptcy Court in Manhattan. Chairman Gerard Arpey will retire and be replaced by Thomas Horton, AMR said.

AMR was determined to avoid Chapter 11 in the years after the 2001 terrorist attacks, as peers used bankruptcy to shed costly pension and retiree benefit plans and restructure debt. American later watched as rival carriers combined, giving them larger route networks that were more attractive to lucrative corporate travel customers.

American was embroiled in negotiations with unions for all of its major work groups as far back as 2006, seeking to boost employee productivity and erase part of what it said was an $800 million labor-cost disadvantage to other carriers.

The airline’s pilots, flight attendants, mechanics and baggage handlers wanted to use the contract talks to regain some of the $1.6 billion in annual concessions they gave in 2003 to help the company avoid bankruptcy.

Quote:

Originally Posted by Matrix2055 

If you gamble airlines stock, watch out for AMR in a year.  If everything moves as planed AMR will be done with all of it's ground and terminal projects (ex: JFK, LGA, DFW, MIA).  Right now lot's of money is going in to all projects, but once they are done(Q2 nest year), the balance sheet will look much-much better.

More like a month... ouch!

Just reopened for trading

20c -87%

Wow, some lucky shorts are dancing the Irish jig.

Yahtzee!!  Had this one shorted since the rumors of impending bankruptcy started surfacing a little while ago.

And you are still short?

Sum1 x-plane dis 2 me

if they declare bacnruptcy, how can thier stock still be trading?

why is it at 20 cents and not 0

what happens to all the current shareholders who own stocks, do they lose all their stocks & money?

what happened when GM declared backruptcy, all shareholders lost it?

why is this AMR stock still for sale if they have declared bancruptcy?

if it buy it at 20 cents and it comes back to $80 i be millionaire, but me not dat smartz so x plane it 2 me pleez

Quote:

Originally Posted by StockJock-e 

And you are still short?

I instructed my guy to take a lot of profits, but leave a little on the table to keep it interesting.  I went in at $3, so this has been a real Christmas present for me.

http://www.marketwatch.com/story/why-shares-of-bankrupt-companies-usually-go-bad
 

Quote:

Originally Posted by tardistossoff 

Sum1 x-plane dis 2 me

 

if they declare bacnruptcy, how can thier stock still be trading?

why is it at 20 cents and not 0

what happens to all the current shareholders who own stocks, do they lose all their stocks & money?

what happened when GM declared backruptcy, all shareholders lost it?

why is this AMR stock still for sale if they have declared bancruptcy?

 

if it buy it at 20 cents and it comes back to $80 i be millionaire, but me not dat smartz so x plane it 2 me pleez

http://www.sec.gov/investor/pubs/bankrupt.htm

2 many werds to reed but many words must meen good news. will buy lotz now, tanks!

I got in at $0.34, wondering what would be a good selling price. If I should hold on to these or just sell them as soon as it goes above that??

My advice is if you are in the green sell them as fast as you can.  I hope you aren't risking very much.  
 

Quote:

Originally Posted by Madhur Jain 

I got in at $0.34, wondering what would be a good selling price. If I should hold on to these or just sell them as soon as it goes above that??

Wow, AMR is up 20% after the close. This doesn't really surprise me. Many such companies do this with their stock prices before all that volatility ends up leaving you with a stock valued at $0.00. Don't chase this thing, it seems toast at the moment. However, if there is a buyout, expect this thing to go up a couple hundred percent if it merges. Don't chase it!

Aww man completely miss this one. Jbrand has mention this as a long term short back during the oil spike in Egypt. Should've taken the advice, missed a good one.