Pinnacle Airlines drops in pre-market as disconcerting Q2 earnings fall short of the Street
Shares of Pinnacle Airlines Corp. (Nasdaq: PNCL) slipping ahead of the opening bell after the airline holding company posted a net loss in the second quarter, compared with net profit in the second quarter of 2007 due to soaring jet fuel prices, the decision to return leased aircraft to lessors and a charge associated with auction rate securities. Excluding one-time charges the firm booked net profit, but the bottom-line still fell short of the Street.
Shares flopped 9%, or $0.59, to $5.93 ahead of the opening. For detailed price information and recent news stories about Pinnacle Airlines, click PNCL.
