Top Stories: American Airlines Shares Drop; Texas Lawmakers Get $2.8 Billion More For Next Session | KERA News

Top Stories: American Airlines Shares Drop; Texas Lawmakers Get $2.8 Billion More For Next Session

Jul 12, 2018

The top local stories this morning from KERA News:

American Airlines shares closed at an almost two-year low on Wednesday. The drop comes after the Fort Worth-based carrier trimmed its second-quarter revenue outlook.

American's stock dropped more than 8 percent, and overall shares are down more than 30 percent this year.

The airline says a technical problem last month that led to about 3,000 canceled flights likely cost American $35 million.

Other airline stocks dropped because of concerns about surging fuels costs. Dallas-based Southwest Airlines closed less than 1 percent lower.

Other stories this morning:

  • Texas lawmakers will have nearly $3 billion extra to work with for the next legislative session in January. Texas Comptroller Glenn Hegar says the higher estimate is the result of better-than-expected sales tax figures and more revenue from oil and gas production.
  • Broadcast News earned seven Oscar nominations for its portrayal of the inner-workings of a television newsroom. Our Big Screen team says it’s one of the few journalism movies that gets it right.

You can listen to North Texas stories weekdays at 8:22 a.m. and 6:20 p.m. on KERA 90.1 FM.