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Market movers: Stocks seeing action on Thursday - and why

Market movers: Stocks seeing action on Thursday - and why
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

American Airlines lost $8 9 billion in a year of Covid-19 pandemic

American Airlines lost $2.2 billion in the fourth quarter as people stayed put in the pandemic, sending the carrier s revenue plunging by nearly two-thirds from the same period a year ago. American predicted that similar revenue trends from late 2020 will carry over into the first three months of 2021. The results ended a dismal year in which American Airlines Group Inc lost $8.9 billion after earning nearly $1.7 billion the year before. Shares of the Fort Worth, Texas, company surged more than 20% in trading before the opening bell, seemingly part of volatile trading elsewhere on Wall Street this week. American shares jumped as much as 10% Wednesday with most of the market selling off strongly, which analysts attributed to volatile trading that has seen other stocks, notably GameStop, become wrapped up in a battle between small investors and short sellers.

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