Major market movers – AAMRQ, GM, AAPL, CSCO, PEP

The major market moving news for the day is as follows:

American Airlines (PINK:AAMRQ) and US airways (NYSE:LCC) announces Merger. The main motive of the merger is to create the world’s largest airline. The merged company will have a market value of $11 Billion. The current CEO of US airways (NYSE:LCC) Doug Parker will be the executive chairman of the merged company while the CEO of American Airlines Tom Horton will act as nonexecutive chairman. Share price of AMR Corporation (PINK: AAMRQ) is trading at $2.12 up 63.08% while the shares of US Airways (NYSE:LCC) is down 4.57% percent to close at $13.99.

General Motors Company (NYSE:GM) earnings for the previous year fell sharp though it made profit in the last quarter. Fourth quarter profit grew 89% while profit for the entire year sank 36%. The share is trading at $28.75 down about 3.21%.

Apple Inc. (NASDAQ:AAPL) announced their stock buyback could become more aggressive. The company is set to pay its third quarter dividend of $2.65 a share today. This could cost a total of $2.5 Billion.

Cisco Systems Inc. (NASDAQ:CSCO) announced their second quarter results where numbers beating the expectations marginally. Revenue for the quarter was $3.1 billion against $2.2 billion Quarter on Quarter. Stock is trading almost flat at $20.86 a share down by 0.71%.

Another company which has posted strong result is PepsiCo. Inc. (NYSE:PEP). Earnings per share stood at $1.09 a share against analyst’s estimates of $1.04. The company expects to grow at 7% during the current year. The company is adding another product to its umbrella called Kick Start which is positioned as breakfast drink. The shares are trading at $72.28 up by 1.09%

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Published by Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.

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