Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Southwest Airlines Co. > News item |
Morning Commentary: Southwest Airlines convertibles active on otherwise quiet morning
By Abigail W. Adams
Portland, Me., Jan. 3 – It was a quiet start to the day in the convertibles secondary space with little on the tape as market players set their sights on the New Year.
After wavering early in the session, equity markets turned positive with the Dow Jones industrial average up 88 points, or 0.24%, the Nasdaq Composite up 0.79%, the S&P 500 index up 0.29% and the Russell 2000 index up 1.67% shortly before 11 a.m. ET.
The convertible bond market saw $43 million in reported volume about one hour into the session with few names seeing concentrated trading activity.
Southwest Airlines Co.’s 1.25% convertibles due 2025 (Baa1/BBB) saw the heaviest volume early in the session although with little price movement.
The notes were changing hands at 134.25 versus an equity price of $43.13 early in the session, according to a market source.
There was $6.5 million in reported volume.
Southwest Airlines’ stock was changing hands at $43.82, an increase of 2.31%, shortly before 11 a.m. ET.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.