Alcoa Inks Agreement With COMAC and 3 Dow Movers Sparking Chatter
Alcoa (NYSE:AA): Current price $8.96
Alcoa’s Fastening Systems division has reached a strategic agreement with the Chinese passenger aircraft maker Commercial Aircraft of China.
Caterpillar (NYSE:CAT): Current price $99.39
Caterpillar has slashed another 100 jobs at its Burnie, Australia facility in a second round of losses at the site in barely a month, following 40 people losing their jobs just prior to Christmas. The State Opposition called the cuts a disaster for the North-West Coast, which already had an unemployment rate of 9.2 percent, one of the highest rates in Australia.
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General Electric Company (NYSE:GE): Current price $75.72
GE Lighting will shut its 164-employee Ravenna manufacturing facility in Ohio by the end of March 2014, explaining that there is a “dramatic and continuing” slump in demand for the lamps made there. Workers at Ravenna make high-intensity discharge lamps which are used in warehouses, stadiums and other public areas. However, the GE Lighting Ravenna distribution center, which employs about 40, will be unaffected.
Procter & Gamble Co. (NYSE:PG): Current price $75.76
The firm is setting up a link to beauty and personal care start-ups by forming a partnership with CircleUp, a crowdfunding Web site launched in 2012 through which eight companies, including Episencial and Pangea Organics, have already raised $7.5 million.