Boeing Delivery POSTPONED by Hong Kong Air and 3 Morning Hot Stocks Trading Today
Whole Foods Market (NASDAQ:WFM) Co-CEO Walter Robb is confident that the company’s growth plans are intact despite food inflation concerns – says the drought could push up inflation by 3-4 percent in 2013, but this could be manageable considering it was preceded by 18 months of disinflation.
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Agricultural machinery maker Deere (NYSE:DE) reports a 10.6 percent rise in net earnings y-on-y as equipment sales are up 16 percent and operating profits thereon grow 16.3 percent. Strikes a cautionary note given the global economic conditions and dry conditions in many important regions – forecasts sales growth of only 13 percent for FQ4 and the full year.
Penske Automotive Group’s (NYSE:PAG) private offering of $575 million in 10-year senior notes carrying a coupon of 5.75 percent is priced at par. The size of the issue was boosted from $400 million originally. Proceeds will go towards extinguishing debt.
Hong Kong Airlines is planning to postpone taking delivery of six Boeing (NYSE:BA) 777 cargo aircraft from 2013-14 to 2015 or later. These purchases from Boeing aside, the airline is planning to replace its current fleet of Boeings with Airbus (EADSY) planes.
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