On Wednesday, Shares of American Airlines Group Inc. (NASDAQ:AAL), gained 0.26% to $40.43.
American Airlines Group, stated May 2015 and year-to-date traffic results.
American Airlines Group’s total revenue passenger miles (RPMs) for the month were 19.3 billion, up 0.7 percent as compared to May 2014. Total capacity was 23.3 billion accessible seat miles (ASMs), up 2.1 percent as compared to May 2014. Total passenger load factor was 82.8 percent for the month of May, down 1.2 percentage points as compared to May 2014.
Based on two months of actual data and one month of forecast, the Company anticipates its second quarter 2015 merged passenger revenue per accessible seat mile (PRASM) to be down about 6 to 8 percent. In addition, the Company anticipates its second quarter fuel price to be about $1.86 to $1.91 per gallon. The Company now anticipates its second quarter pretax margin not taking into account special items to be between 16 and 18 percent.
American Airlines Group Inc., through its auxiliaries, operates in the airline industry. As of December 31, 2014, the company operated 983 mainline jets, in addition to 566 regional aircrafts through regional airline auxiliaries and third-party regional carriers. It serves 339 destinations in 54 countries
Shares of Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD), inclined 1.22% to $12.43, during its last trading session.
Ironwood Pharmaceuticals, declared the pricing of $300 million aggregate principal amount of convertible senior unsecured notes that will mature on June 15, 2022 (the Notes). The Notes are being offered and sold to qualified institutional buyers following Rule 144A under the Securities Act of 1933, as amended. Ironwood has also granted the initial purchasers of the Notes an option to purchase up to an additional $45 million aggregate principal amount of the Notes solely to cover over-allotments.
The Notes will bear cash interest at a rate of 2.25%, payable on June 15 and December 15 of each year, starting on December 15, 2015. The Notes will not be redeemable preceding to maturity. The Notes will be convertible, only during certain periods and subject to certain circumstances, into cash, shares of Ironwood Class A common stock, or a combination of cash and shares of Ironwood’s Class A common stock, at Ironwood’s election. The initial conversion rate for the Notes is 60.3209 shares of Ironwood’s Class A common stock per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of about $16.58 per share of Ironwood’s Class A common stock, representing an about 35% conversion premium based on the last stated sale price of Ironwood’s Class A common stock of $12.28 per share on June 9, 2015.
Ironwood Pharmaceuticals, Inc., a pharmaceutical company, engages in the research, development, and commercialization of human therapeutic products. The company markets linaclotide, a guanylate cyclase type-C agonist for the treatment of adult men and women suffering from irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC) under the LINZESS name in the United States and Constella name in the European Union.
Finally, Encana Corporation (NYSE:ECA), ended its last trade with 2.90% gain, and closed at $12.33, as oil futures settled higher on Wednesday, with the U.S. benchmark at a high for the year, after a government report showed that crude supplies fell a sixth straight week.
But prices ended off the session’s best level as data showed U.S. oil production edged higher.
Crude’s advance also came as the Organization of the Petroleum Exporting Countries said it sees no further rise in demand for its oil this year, but it anticipates the current oversupply to ease. Traders also considered the impact of Islamic State’s assaults on Libya’s largest oil terminal, according to MarketWatch.
Encana Corporation, together with its auxiliaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in plays, such as the Montney in northern British Columbia and northwest Alberta.
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