Markets continued to trade in the green on Tuesday as investors remain optimistic following central banks’ ability to backstop markets in case of any uncertainty.
Among the stocks that are making headlines today are American Airlines Group Inc (NASDAQ:AAL), HP Inc (NYSE:HPQ), Deutsche Bank AG (USA) (NYSE:DB), Copa Holdings, S.A. (NYSE:CPA) and Plains GP Holdings LP (NYSE:PAGP). Let’s find out why these stocks are on the move today and see how hedge funds in our database are positioned towards them.
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American Airlines’ Income To Increase
American Airlines Group Inc (NASDAQ:AAL)’s stock has skyrocketed by more than 8% after the company said its pre-tax income for financial reporting purposes will increase by approximately $200 million in the second half of 2016, by $550 million in 2017 and by $800 million in 2018. The company also announced new credit card agreements with Citi, Barclaycard US on Tuesday. A total of 61 hedge funds from our database were bullish on American Airlines Group Inc (NASDAQ:AAL) at the end of the first quarter, down from 75 funds a quarter earlier.
HP Surges After Positive PC Market Report
HP Inc (NYSE:HPQ)’s stock has gained more than 3% so far today following International Data Corporation (IDC) Worldwide Quarterly PC Tracker report published on Monday, according to which the worldwide PC sales totaled 62.4 million units in the second quarter of 2016, showing a 4.5% decline year-over-over, much better than the estimated 7.5% decline. With a 20.8% market share, HP was the second most popular PC vendor. The company had a strong quarter and its revenue pushed through the positive territory after years of declines. Sales from the US were the main driving factor for HP in the second quarter. Overall, 40 hedge funds from our database reported holding stakes in HP as of the end of the first quarter.
On the next page, we will discuss Deutsche Bank, Copa Holdings and Plains GP Holdings.