CGO for the thread.. I've been watching this one,having had some success with FWRD and FRNT. Goldman Sachs also repeated a market-outperform rating this morning. It is expected they have a good fourth quarter. Three strong buys reiterated on 1/11/00 Earnings out TODAY.
Took out resistance at 28 1/4 and all indicators are bullish.. I noted it today it was only up 7/16 and now its surging. The volume and chart has been steadily showing increasing interest. Volume already 153,000 with an average daily volume of 108,000 and we're only 2 hours into the trading session. This is not a daytrade and could be good for 10 points and more.
1/11/00 CGO Atlas Air Inc. Reiterated 'Strong Buy' at Scott & Stringfellow - Bloomberg
1/11/00 CGO Atlas Air Inc. Reiterated 'Market Outperform' at Goldman Sachs - Bloomberg
1/11/00 CGO Atlas Air Inc. Reiterated 'Strong Buy' at Deutsche Banc AB - Bloomberg
Atlas Air Home Page - is the world's largest air cargo carrier specializing in the outsourcing of its Boeing 747-200 aircraft. The Company provides reliable airport-to-airport cargo transportation services throughout the world to major international air carriers. Atlas Air's fleet currently consists of 28 Boeing 747 freighter aircrafts serving 76 cities in 42 countries. The Company's customers currently include China Airlines, KLM, Lufthansa, British Airways, SAS, Emirates, Fast Air, Alitalia, El Al, Iberia, LAS, and Thai International Airways.
Atlas Air Sets New Customer Flying Record
GOLDEN, Colo.--(BUSINESS WIRE)--Jan. 14, 2000--Atlas Air, Inc. (NYSE:CGO - news) announced today that its fourth-quarter 1999 block hour production was the highest in its history. The company, which provides its 747-200 and 747-400 freighters under ACMI (aircraft, crew, maintenance and insurance) contracts to the world's leading international airlines, flew over 34,000 block hours for its customers in the just-concluded quarter.
''The air freight market during the fourth quarter was very strong, and our customers flew at record levels,'' said Michael A. Chowdry, Chairman, Chief Executive Officer and President of Atlas Air, Inc. ''In large part, this reflected both the continued strength of worldwide economic conditions, and the resurgence of the Asian market, in particular. More importantly, all signs point to a continuation of this air cargo growth through 2000.''
Atlas Air is a United States certificated air carrier that operates a fleet of 747 freighters under long-term ACMI contracts. These contracts include the provision by Atlas of air cargo capacity for some of the world's leading international carriers. Atlas operates scheduled flights on behalf of its customer airlines to 101 cities in 46 countries.
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