Yahoo Finance Stocks - American, Delta Air Lines Rise in Premarket on Capacity Cuts
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Tuesday, March 10th. Please refresh for updates.
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Occidental Petroleum (NYSE:OXY) was up 25%, recovering partially after losing more than half its value on Monday. Occidental was particularly exposed to the oil price crash, having borrowed heavily to finance its acquisition of fellow exploration&production company Anadarko last year.
8:56 AM ET: Royal Caribbean Cruises (NYSE:RCL) stock rose 7.5% after the cruise operator withdrew its guidance for the current quarter and the full year due to the uncertain impact of the Covid-19 virus.
The stock had fallen over 25.7% on Monday.
The company said it has increased its revolving credit facility by $550 million and will take other actions to improve liquidity by at least another $1.7 billion this year, chiefly through cutting capital and operational spending.
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