2:10 PM New York – Qatar Airways still insist to buy stake in American Airlines despite its decline for code-sharing agreements. Commerce Bancshares net soared 11%. Delta Air Lines net tumbled 21% but passenger unit revenues increased. JBS wins court approval for $300 million stake sell to Minerva.]
Tollbooth Index increased 65.50 or 0.5% to 12,248.30.
American Airlines Inc
closed nearly unchanged at $53.81 after the state controlled Qatar Airways Company said it will go ahead with plans to buy up to a 10% stake in the airline.
Yesterday, American severed its marketing arrangement with Qatar Airways and Etihad Airways as the war of words escalated between the two carriers.
For the past two years unsuccessfully, Delta Air Lines, American and United Airlines have asked the U.S. government to renegotiate its trade deal with Qatar and the United Arab Emirates and cited unfair and illegal subsidies and loans offered by these nations to state controlled airlines.
Three U.S. based airlines alleged that the Etihad, Emirates and Qatar airlines have accessed more than $42 billion in subsidies and financing from two nations.
Commerce Bancshares, Inc
) increased 1.4% 76 cents to $57 after the financial services provider said total revenues in the second-quarter ending in June advanced 3.6% from a year ago to $305.9 million.
Net income in the quarter soared 10.7% to $76.7 million or 75 cents per diluted share from $69.3 million or 68 cents in the same quarter last year.
Delta Air Lines, Inc
) slipped 1.5% or 83 cents to $54.65 after the passengers and cargo services provider said total revenues in the second-quarter ending in June jumped 3.3% from a year ago to $10.8 billion.
Net income in the quarter tumbled 21% to $1.2 billion or $1.68 per diluted share from $1.5 billion or $2.03 in the same quarter last year.
Passenger unit revenues increased 2.5% and cargo revenue jumped 11%.
soared 7.4% to 7.09 BRL after Brazil-based meat processor received clearance from the Brazilian Federal Court to sell its South American meatpacking unit to rival Minerva SA for $300 million.
Upland Software Inc
) jumped 5% or $1.17 to $24.37 after the cloud-based enterprise software provider agreed to acquire cloud-based mobile messaging services provider Waterfall International Inc for $24.4 million in cash.
Upland forecasted fiscal 2017 revenue in the range of $91.2 million to $95.2 million and operating profit in the range of $28 million to $31 million.