9 Top Stories Affecting Dow 30 Industrial Stocks This Week
The Boeing Company (NYSE:BA): Current price $76.49
Investigators still have not found the cause of the dangerous Dreamliner mishaps, says the Wall Street Journal. As the inquiry of burning batteries aboard Boeing’s jets enters its second month, an international team of air-accident experts remains unclear as to the underlying cause, according to sources, which has stoked pessimism about how soon the planes can take back to the air.
A first-tier vendor for Boeing’s 787 Dreamliner passenger jet, Fuji Heavy Industries, announced that there was no change to its output plans for the grounded plane’s wingbox, says Reuters. Fuji Heavy is the sole manufacturer of the 787′s wingbox, the component that connects the wings to the fuselage. Presently, Boeing has ceased deliveries of the 787, but it is assembling new planes in the United States, keeping the completed jetliners at its plants.
Boeing reported that contract negotiations with India for military helicopters will not be impacted by planned budget reductions. This comes after the Defense Minister said that expenditures on arms would be tightened, says Reuters.
On Thursday night, the Federal Aviation Administration said in a statement that, “As part of our ongoing efforts to determine the root cause of recent Boeing 787 lithium-ion battery incidents, the FAA will permit Boeing to conduct test flights of 787 aircraft to gather additional data. The traveling public’s safety is our highest priority. These test flights will be an important part of our efforts to ensure the safety of passengers and return these aircraft to service.”
Caterpillar (NYSE:CAT): Current price $96.79
CalAmp Corp. (NASDAQ:CAMP) has reached a development accord with Caterpillar to supply the latter with ruggedized wireless routers that will allow crucial data communications for equipment deployed worldwide. Through the terms, CalAmp is providing a customized version of its powerful Vanguard mobile wireless broadband router for multi-carrier operation, on both CDMA and GSM networks globally, along with a satellite communication version of Vanguard for linking with Caterpillar equipment deployed in remote locations that have no cellular coverage.
General Electric Co. (NYSE:GE): Current price $22.49
General Electric will provide seven wind turbines valued at roughly $30 million for a wind park to Energia Verde Ventuno Srl, a Romanian private firm, according to Bloomberg.
While The Boeing Company pays a price for having farmed out crucial parts on its new Dreamliner, General Electric’s aviation unit is busy bringing work on its engines back in-house. In 2013, GE will open a two factories in Mississippi and Alabama and soon will announce the location of the third.
Chief Executive Jeff Immelt says that political fighting in Washington fails to alter the way big firms like his invest and operate, but that “the burden of uncertainty” falls most solidly on small and medium businesses, according to The Washington Post.
3M Company (NYSE:MMM): Current price $102.63
3M elects the Coca-Cola Chief Executive Muhtar Kent to its board, effective April 1st.
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