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Tuesday, January 28, 2014

American Airlines profit beats estimates; shares rise, (NASDAQ: AAL)

American Airlines Group Inc, the world's biggest carrier after merging with US Airways last year, reported better-than-expected adjusted profit and revenue as fares climbed and fuel costs fell, sending its shares up 3.4 percent.The company reported a net loss of $2 billion, or $8.66 a share on Tuesday, in the fourth quarter through Dec. 31, after charges of $2.4 billion relating to its reorganization.Excluding those charges, combined profit was $436 million for American's former parent AMR Corp and US Airways, compared with a year-earlier loss of $42 million. Adjusted profit was 59 cents a share, higher than the 55 cents a share expected by analysts surveyed by Reuters.The merger of American and US Airways on Dec. 9, the fourth major union in the U.S. airline industry since 2008, was the means by which American parent AMR emerged from U.S. bankruptcy protection.

Anglo American plc (Anglo American) is a mining company. Shares of AAL traded higher by 3.48% or $1.05/share to $31.23. In the past year, the shares have traded as low as $12.70 and as high as $31.46. On average, 13206600 shares of AAL exchange hands on a given day and today's volume is recorded at 4417383.