Market Updates
U.S. Movers: American Airlines Group, Moderna, Spirit Airlines
Scott Peters
13 Sep, 2023
New York City
U.S. stocks and Treasury yields lacked direction after the consumer price inflation accelerated in August and core inflation eased on an annual basis.
The S&P 500 index inched up 0.2% to 4,472.03 and the Nasdaq Composite added 0.3% to 13,809.52.
American Airlines Group Inc declined 4.5% to $13.42 after the international carrier said higher crude oil prices are expected to hurt quarterly profit.
The airline estimated third quarter adjusted earnings per share between 20 cents and 30 cents, citing higher fuel prices and a new compensation terms with pilot unions.
Spirit Airlines Inc dropped 3.3% to $16.70 after the discount carrier lowered its third quarter operating margin of as much as -15.5% from the previous estimate of between -5.5% and -7.5%.
The discount airline lowered its third quarter revenue range between $1.245 billion and $1.255 billion from the previous estimate between $1.30 billion and $1.32 billion.
Moderna Inc increased 5.1% to $110.82 after the Center for Disease Control and Prevention recommended company's new Covid-19 vaccine for all Americans older than 6 months and older.
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