Pinnacle Airlines ( WMT) is trending as the U.S regional carrier filed for bankruptcy protection after being weighed down by high fuel prices and decreased travel demand. The Memphis, Tennessee-based airline said it will halt United Express services by Aug. 1, while continuing its other services, including Continental Express and Delta Connection. Pinnacle said it received a $74.3 million loan from Delta Air Lines ( DAL) in order to maintain operations while it reorganizes and also repay a debt to another airline. Pinnacle President and CEO Sean Menke said, "We intend to use the Chapter 11 process to reset our financial and operational structure in order to position Pinnacle for viability over the long term."
A credit card breach is sparking various kinds of searches online. Global Payments ( GPN), which processes card transactions, has confirmed that hackers accessed data from up to 1.5 million accounts in North America. The company said the hackers stole account numbers and exported the information, though they reportedly did not obtain names, addresses and Social Security numbers of the account holders. As a result of the breach, Visa ( V) has removed Global Payments from its list of preferred credit card processors. Visa rival MasterCard ( MA) has yet to remove Global Payments from its version of the list. Both companies said they have notified payment card issuers about accounts that are at risk, and have said that their own networks have not been infiltrated. Global Payments plans to hold a conference call Monday morning to provide more details on the breach.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.