Market Round-up (MESA, DAL, CRH, TTM, COF)

Mesa Air Group (NASDAQ: MESA) has filed for bankruptcy protection under Chapter 11 in an effort to eliminate excess aircrafts and achieve a solution for its ongoing lawsuit with Delta (NYSE: DAL) at the earliest. With excess aircrafts lying with MESA and the associated lease obligations on aircrafts, the company is facing an "untenable financial situation."

Building materials company CRH PLC (NYSE: CRH) has projected a decline in its full-year pretax profit of about 55% due to a downturn in global construction demand. CRH’s Chief Executive Officer Myles Lee said that trading conditions will continue to be tough in Europe and the Americas throughout 2010. CRH, however, intends to maintain its capital expenditure in 2010 at the 2009 levels. CRH’s shares have slipped by 3.89% to $26.96.

India-based Tata Motors (NYSE: TTM) announced that it may be able to launch its Nano car in the US in three years. If TTM is able to launch the Nano at the existing price of $2,500, it might be able to re-shape the automotive market in the US.

November pending home sales fell by 16% month-on-month to 96, against the expectations of a decline of 5% and growth of 3.7% in October to 114.1. NAR chief economist Lawrence Yun said that a significant rise in sales activity might not be seen until early spring, as home buyers will take time to respond to the recent extension and expansion in tax credit.

November factory orders rose by 1.1%, exceeding the consensus expectations of +0.4%. Factory orders had risen by 0.8% in October.

Capital One (NYSE: COF) has risen after Stifel Nicolaus upgraded the company from “hold” to “buy.” Stifel Nicolaus said, "We are more confident that credit-card industry losses have already peaked and are poised to drop significantly... We no longer see material catalysts for a pullback."