5 Stocks Dragging the Dow into the RED
The Dow has slipped a bit Monday (-0.29 percent), and currently is at 13,189. Weak domestic spending and news from Europe are said to be the causes.
General Electric Co. (NYSE:GE) will produce gas turbines, steam turbines and heat recovery steam generators for a $34 billion Ichthys project, in which UGL Limited will partner equally with EPC firm CH2M HILL, to build a combined cycle power plant for the Ichthys liquefied natural gas venture in the Northern Territory. JKC Australia LNG Pty Ltd has granted a $550 million contract for the project, and the above joint venture will use GE tech to design and complete the balance of the plant.
Boeing Co. (NYSE:BA): Several new transactions involving eleven twin aisle, and two single aisle aircraft, have been announced by Air Lease. Eight new Boeing 787-9 “Dreamliner” aircraft have been purchased for lease to Vietnam Airlines, with deliveries set for 2017 and 2018. One B777-300ER was bought from Macquarie Aviation for a long term lease to new customer Emirates. Another lease, to KLM of one additional A330-200 for a 2013 delivery was announced, as well as one A330-300 from the company’s pipeline for long term lease to Sichuan Airlines, also for a 2013 delivery. The latter has also made a four-year lease extension on one A319 aircraft from ALC. Finally, one Embraer 190, also from the pipeline, has been leased to LAM of Mozambique, for 2012 delivery.
Bank of America Corporation (NYSE:BAC) directors say that accusations that the bank’s proposed $20 billion resolution of lawsuits stemming from its purchase of Merrill Lynch was made “on the cheap” are untrue, according to a Reuters report. Further, the directors assert that the resolution talks had “nothing collusive” in their nature, and also that a shareholders’ $5 billion damages claim is “outrageous” and that they have no authority to attempt to block the settlement.
Cisco Systems, Inc. (NASDAQ:CSCO) says that 27 percent of chief information officers who were polled by UBS, expect it to gain share in 2012, which is the best result for the company in four surveys.
Walt Disney Co. (NYSE:DIS): The Wrap reports that in the first quarter American consumers spent $4.5 billion in home entertainment, which is a year-to-year increase of 2.5 percent. Online subscriptions comprised a large part of the jump, according to data from The Digital Entertainment Group. More figures from the report include an increase in Blu-ray disc sales of 23 percent, and that sales of services such as Apple’s (NASDAQ:AAPL) iTunes helped TV shows move up 0.5 percent. However, sales of DVDs declined once again.
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