Beruflich Dokumente
Kultur Dokumente
Fundamental
(Information derived from financial statements below and outside sources):
1. Does not hedge fuel costs.
2. $2.5 billion in tailwinds expected in 2015.
3. $6 million saved in aircraft fuel and related taxes from the 6 months ended June
30, 2013 to the 6 months ended June 30, 2014.
4. $22 million saved in regional expenses (fuel) from the 6 months ended June 30,
2013 to the 6 months ended June 30, 2014.
5. Average fuel price with taxes decreased from $3.06 per gallon to $3.02 per gallon
from the 6 months ended June 30, 2014 to the 3 months ended June 30, 2014.
Technical:
As you can see between Nov. 10-17, the 30-day moving average diverges from
the 60-day and 90-day moving averages. This divergence means that the 60-day
and 90-day moving averages should follow the 30-days movement over the
following months. In other words, AALs price should level at higher 60-day and
90-day moving averages in the coming months.
A potential price target for the next 2 months is $51.11 (assuming the 60-day and
90-day moving averages converge to the 30-day moving average).
CORN (ETF)
Fundamental
(Information derived from USDA projections below and outside sources):
Corn supplies in the market may drop due an increase in railway transportation
costs ($1-$1.40 per bushel) and to a jam in railway transportation resulting from a
bumper crop and a crude oil glut last year (2014). The best indicator of this
situation is the performance of railway transportation companies in 2014:
Canadian Pacific Railways stock appreciated about 28% in 2014.
CSX Corporations stock appreciated 28% in 2014.
Norfolk Southern Corporations stock appreciated about 19% in 2014.
in corn production, to 21 million tons. The base case outlook projects a 1 % (10
million ton) YOY increase in global corn use.
Goldman projects Corn prices at 3.75 cents/bushel at the end of 2015, up from 3
cents/bushel at the end of 2014.
Technical:
Similar to AAL, CORNs 30-day moving average indicates a higher price than the
60-day and 90-day moving averages. An expected price for the next 2 months is
$26.80.