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CNN Live At Daybreak

American Airlines to Replace TWA Name With Its Own

Aired November 07, 2001 - 06:42   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN, CNN ANCHOR: Our keyword right now, Haffenreffer, I don't even know if that fits on one line, for AOL. But David is here now with all of the information looking ahead to the business day -- hi, David.

DAVID HAFFENREFFER, CNN FINANCIAL NEWS CORRESPONDENT: Well, we're gearing up, Daryn, for that day after the Fed decision, of course. And the Fed decision yesterday certainly helped to boost the markets. We want to see today if there's going to be any follow through to that.

The stock index futures, at least to this early hour, suggest that we could see a bit of pull back today, following the strong gains of the past two sessions. Yesterday's half percentage point interest rate cut certainly sent stock surging. The Dow industrials climbing 150 points on the day; the Nasdaq composite jumped better than 2 percent in the session.

In its closely watched decision -- statements, rather, the Federal Reserve says it still sees weakness, not inflation, as the main threat to the U.S. economy.

We do have a number of earnings reports coming out in today's session. Aetna and News Corporation are among the big names that we're expecting to hear from. Last night, Qualcomm reported a $44.5 million loss. That was even worse than Wall Street had been looking for.

Elsewhere in tech land, the Hewlett family, which is, of course, the family behind Hewlett-Packard, say they will vote against the merger with Compaq. They have only a 5 percent stake in that company, but investors say they wield enormous influence. The Hewlett's say buying Compaq will increase HP's exposure to the low-profit PC business.

And it's the end of the line for one of the oldest names in aviation. American Airlines says it will replace the TWA name and logo with its own starting December 2. TWA flights on or after that date will be sold as American flights. AMR, the parent company of American Airlines, bought TWA out of bankruptcy protection earlier this year -- Daryn, back to you.

KAGAN: David, thank you -- you have a great day.

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