Alcoa and 3 Stocks Pushing the DJIA to 12,500
The Dow Jones Industrial Average (NYSEARCA:DIA) is up today by 0.51% to 12,455. The index broke 12,500 for a few minutes, and these stocks helped lead the way.
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United Technologies (NYSE:UTX) company Pratt & Whitney won a $194,097,296 long-lead production contract with the U.S. Department of Defense for F135 engines to power the F-35 Lightning II. The low rate initial production, or LRIP, contract is for long-lead materials for the sixth lot of F135 engines, and enables Pratt & Whitney to begin gathering long-lead items for production engines.
Shares of Alcoa Inc. (NYSE:AA) are up more than 3 percent early Tuesday morning following the company’s report of fourth quarter results late Monday. The loss from continuing operations was $34 million, or $0.03 per share, after costs of restructuring and other special items. The company reported fourth quarter revenue of $6 billion, a decline of 7 percent from the previous quarter’s $6.4 billion but a 6 percent increase from the $5.7 billion revenue of fourth quarter 2010 .
Bank of America (NYSE:BAC) and J.P. Morgan (NYSE:JPM) are up after a Fed report says consumer borrowing surged over the holidays as spending increased. This could indicate a new period of household debt reduction that has hindered the economy.
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