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من نجد · 10-01-2007, 05:08 PM

Airways Up 3.6% To $60/Shr After Raising Delta Offer

01/10/2007
Dow Jones News Services
(Copyright © 2007 Dow Jones & Company, Inc.)

(MORE TO FOLLOW) Dow Jones Newswires

01-10-07 0837ET

Copyright (c) 2007 Dow Jones & Company, Inc.

=DJ BEFORE THE BELL: US Airways Rises After Raising Delta Bid

By Christopher Hinton
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Shares of US Airways Group Inc. (LCC) rose 3.6% to $60 before the opening bell Wednesday after the company said it had raised its offer for Delta Air Lines Inc. (DALRQ).

US Airways said Delta's unsecured creditors would receive $5 billion in cash and 89.5 million shares of US Airways stock. Based on the closing price of US Airways stock on Tuesday, the new proposal has a current market value of around $10.2 billion.

US Airways said that, when applying the same valuation methodology used in Delta's own disclosure statement, the proposal will provide between $12.7 billion and $15.4 billion in value to Delta's unsecured creditors. This represents a significant premium over the $9.4 billion to $12 billion that Delta places on its own stand-alone plans, US Airways said.

Alcoa Up On 4Q Results, Outlook

Shares of Alcoa Inc. (AA) rose 4.5% to $29.81, the day after the world's largest aluminum producer reported stronger-than-expected fourth-quarter results and gave an encouraging full-year forecast.

Chief Executive Alain Belda said late Tuesday that he expects strong aluminum demand this year, noting that the company's previous forecast of 14% demand growth in China may be conservative.

"As we enter 2007, market fundamentals remain strong," said Belda said.

Excluding restructuring and impairment charges, the Dow Jones Industrial Average component said fourth-quarter income from continuing operations was $644 million, or 74 cents a share. Analysts had expected earnings of 65 cents, according to Thomson Financial.

Chevron Falls On Outlook

Chevron Corp. (CVX) shares fell 1.1% to $69.85 after the energy major said it expects fourth-quarter results to be adversely affected by lower commodity prices and lower downstream margins.

In its interim update, the energy company said U.S. liquids and natural-gas production declined almost 1% from the prior quarter, while international production volumes fell 3.4%.

Chevron added that it expects fourth-quarter after-tax charges for corporate and other activities, excluding Dynegy, to be at or above the high end of the company's "standard" outlook of $160 million to $200 million.

ImClone Up On Cancer Drug Trial Success

Shares of ImClone Systems Inc. (IMCL) rose 8% to $31.55 after the biopharmaceutical company said its colorectal cancer treatment candidate, Erbitux, met its primary endpoint in a late stage trial when combined with Folfiri chemotherapy.

"This study demonstrates the potential benefit of adding Erbitux to first-line treatment of metastatic colorectal cancer," ImClone said in a statement with its partner, Bristol-Myers Squibb Co. (BMY).

Before the opening of regular trade, shares of Bristol-Myers were unchanged from Tuesday's close at $26.21.

Apple Continues Rise On iPhone Unveiling

Shares of Apple Inc. (AAPL) rose 1.5% to $94, continuing gains from Tuesday after the maker of the popular iPod portable media players revealed its latest creation, the iPhone, a media-playing cellphone.

The phone is expected to reach market in June, and will likely ratchet up competition in the mobile telephone space.

U.S.-traded shares of the world's largest handset maker, Nokia Corp. (NOK), slipped 1.5% to $19.08; Motorola Inc. (MOT) shed 0.5% to $18.16 a share; and L.M. Ericsson Telephone Co.'s (ERIC) American Depositary Shares fell 1.1% to $39.88 before the opening of regular trade.

Guitar Center Falls On 4Q Outlook

Guitar Center Inc. (GTRC) shares fell 4.6% to $41.25 after the musical-instrument retailer said it expects fourth-quarter net income to come in below its prior guidance because of softer-than-anticipated sales.

The Westlake Village, Calif., company had forecast fourth-quarter net income of $34 million to $36 million, or $1.14 to $1.20 a share.

Consolidated net sales in the period rose 11.7% to $628.5 million from $562.8 million a year earlier, while same-store sales were up 1.3%

10-01-2007, 05:08 PM	#17
من نجد متداول نشيط تاريخ التسجيل: Jan 2004 المشاركات: 676	يو أس تزيد من عرض قيمة الشراء لدلتا Airways Up 3.6% To $60/Shr After Raising Delta Offer 01/10/2007 Dow Jones News Services (Copyright © 2007 Dow Jones & Company, Inc.) (MORE TO FOLLOW) Dow Jones Newswires 01-10-07 0837ET Copyright (c) 2007 Dow Jones & Company, Inc. =DJ BEFORE THE BELL: US Airways Rises After Raising Delta Bid By Christopher Hinton Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of US Airways Group Inc. (LCC) rose 3.6% to $60 before the opening bell Wednesday after the company said it had raised its offer for Delta Air Lines Inc. (DALRQ). US Airways said Delta's unsecured creditors would receive $5 billion in cash and 89.5 million shares of US Airways stock. Based on the closing price of US Airways stock on Tuesday, the new proposal has a current market value of around $10.2 billion. US Airways said that, when applying the same valuation methodology used in Delta's own disclosure statement, the proposal will provide between $12.7 billion and $15.4 billion in value to Delta's unsecured creditors. This represents a significant premium over the $9.4 billion to $12 billion that Delta places on its own stand-alone plans, US Airways said. Alcoa Up On 4Q Results, Outlook Shares of Alcoa Inc. (AA) rose 4.5% to $29.81, the day after the world's largest aluminum producer reported stronger-than-expected fourth-quarter results and gave an encouraging full-year forecast. Chief Executive Alain Belda said late Tuesday that he expects strong aluminum demand this year, noting that the company's previous forecast of 14% demand growth in China may be conservative. "As we enter 2007, market fundamentals remain strong," said Belda said. Excluding restructuring and impairment charges, the Dow Jones Industrial Average component said fourth-quarter income from continuing operations was $644 million, or 74 cents a share. Analysts had expected earnings of 65 cents, according to Thomson Financial. Chevron Falls On Outlook Chevron Corp. (CVX) shares fell 1.1% to $69.85 after the energy major said it expects fourth-quarter results to be adversely affected by lower commodity prices and lower downstream margins. In its interim update, the energy company said U.S. liquids and natural-gas production declined almost 1% from the prior quarter, while international production volumes fell 3.4%. Chevron added that it expects fourth-quarter after-tax charges for corporate and other activities, excluding Dynegy, to be at or above the high end of the company's "standard" outlook of $160 million to $200 million. ImClone Up On Cancer Drug Trial Success Shares of ImClone Systems Inc. (IMCL) rose 8% to $31.55 after the biopharmaceutical company said its colorectal cancer treatment candidate, Erbitux, met its primary endpoint in a late stage trial when combined with Folfiri chemotherapy. "This study demonstrates the potential benefit of adding Erbitux to first-line treatment of metastatic colorectal cancer," ImClone said in a statement with its partner, Bristol-Myers Squibb Co. (BMY). Before the opening of regular trade, shares of Bristol-Myers were unchanged from Tuesday's close at $26.21. Apple Continues Rise On iPhone Unveiling Shares of Apple Inc. (AAPL) rose 1.5% to $94, continuing gains from Tuesday after the maker of the popular iPod portable media players revealed its latest creation, the iPhone, a media-playing cellphone. The phone is expected to reach market in June, and will likely ratchet up competition in the mobile telephone space. U.S.-traded shares of the world's largest handset maker, Nokia Corp. (NOK), slipped 1.5% to $19.08; Motorola Inc. (MOT) shed 0.5% to $18.16 a share; and L.M. Ericsson Telephone Co.'s (ERIC) American Depositary Shares fell 1.1% to $39.88 before the opening of regular trade. Guitar Center Falls On 4Q Outlook Guitar Center Inc. (GTRC) shares fell 4.6% to $41.25 after the musical-instrument retailer said it expects fourth-quarter net income to come in below its prior guidance because of softer-than-anticipated sales. The Westlake Village, Calif., company had forecast fourth-quarter net income of $34 million to $36 million, or $1.14 to $1.20 a share. Consolidated net sales in the period rose 11.7% to $628.5 million from $562.8 million a year earlier, while same-store sales were up 1.3%