3 Consumer Stock Stories To End the Trading Week

The Boeing Company (NYSE:BA): Current price $87.98

Boeing has announced that it will cut its engineering workforce by as many as 1,700 positions in 2013, adding to the elimination of up to 2,300 machinists, during a gap in work on new plane models. A number of the engineering reductions will be mitigated through attrition and a lowering of contract labor, according to Vice President of engineering for Boeing Commercial Airplanes Mike Delaney, in an e-mail to managers. Layoff notices will be sent to around 100 engineers in the Seattle area Friday, and roughly 700 will lose their jobs in 2013. Delaney said that the cuts are necessary as development is winding down on programs like the 747-8 jumbo jet and the 787-9 Dreamliner, while Boeing’s board has yet to okay work on the 777-X and 787-10.

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BA

The Walt Disney Company (NYSE:DIS): Current price $61.47

At CinemaCon, the Walt Disney Studios Chairman Alan Horn reported that the company will release three Star Wars films by the end of the decade,  with one each  in 2015, 2017 and 2019. In between those movies, Horn said that “we expect to have pictures derived from that universe,” indicating that spinoff movies may be expected in 2016, and in 2018 as well. In October, Disney said it would release a seventh live-action “Star Wars” movie in 2015.

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DIS

J.C. Penney & Co. (NYSE:JCP): Current price $15.25

The historic retailer’s former and also new Chief Executive Myron “Mike” Ullman, has rehired an architect of Penney’s private label and exclusive brands division. Ken Mangone has returned to his old job of executive vice president of product development design and sourcing, and Nick Wooster resigned. Mangone left Penney’s in December following 35 years with the company, and had been in the executive vice president role since January 2011, when he replaced Peter McGrath, who retired after 37 years at the firm. He and McGrath developed the private label business, which has historically comprised roughly 50 percent of Penney’s annual sales. That staff had recently dismantled by ousted Chief Executive Ron Johnson.

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JCP

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