Business Services Industry
Airline Stocks Fall after AMR's Earnings Warning.
Knight Ridder/Tribune Business News, December, 1998 by Maxon, Terry
Knight Ridder/Tribune Business News
Dec. 12 -- Shares of U.S. airlines took a beating Friday after the parent of American Airlines Inc. warned investment analysts to lower their earnings estimates for the fourth quarter.
Fort Worth-based AMR Corp., owner of American, saw its shares fall 6.8 percent in New York Stock Exchange trading, closing down $4.25 at $58.25. Shares in Delta Air Lines Inc. and US Airways Group Inc. dropped 5.5 percent, Continental Airlines Inc. fell 4.6 percent, and all other major airlines saw a drop of at least 2.6 percent.
AMR spokesman Chris Chiames said the airline expects to remain profitable in the fourth quarter and in 1999, but he said he believes that the consensus estimate for the last three months of 1998 was...
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