Boeing FINALIZES New 737 Order and 3 Dow Movers to Watch
Boeing Co. (NYSE:BA) and EL AL reported that the Israeli national carrier has completed an order for two additional Next-Generation 737-900ERs. When the two are added to EL AL’s previous order of March 2011, the total number of 737-900ERs on order rises to six., and the value of the new order is about $179.2 million at current list prices.
Bank of America Corporation (NYSE:BAC): Goldman Sachs Japan, a subsidiary of Goldman Sachs Group Inc. (NYSE:GS), made the most eliminations of jobs in foreign banks at their Japanese brokerages in the last fiscal year. Filings showed that the company decreased headcount by 14 percent to 847, according to Bloomberg.
Chevron Corp. (NYSE:CVX): The United States Congress passed legislation on Wednesday which imposes a new round of sanctions against firms that help Iran sell its oil, says Reuters. The bill will now be sent to President Obama for his signature.
EI DuPont de Nemours & Co. (NYSE:DD) strongly disagrees with the verdict that was reached in favor of Monsanto Company (NYSE:MON), in the latter’s patent case against DuPont in the U.S. District Court in St. Louis, Missouri. The firm believes that the jury was not allowed to see certain crucial facts and arguments due to fundamental errors in the case, and that this led to the disappointing outcome. The verdict will be appealed at the earliest possible opportunity and DuPont believes that it will be overturned, as the company’s Senior Vice President and General Counsel Thomas L. Sager commented that “DuPont believes that the evidence presented during the trial demonstrated clearly that Monsanto’s Roundup Ready soybean patent RE 39,247 is invalid and unenforceable and that Monsanto intentionally deceived the U.S. Patent and Trademark Office on several occasions as it sought patent protection. Further, DuPont believes that the damages awarded of $1 billion are unjustified, particularly considering that Pioneer has never sold a single Optimum GAT seed and has no plans to do so in the future. DuPont’s license to sell Roundup Ready soybeans remains in place and is not impacted by this verdict.” Certain factors involving Monsanto’s misconduct involving this patent, which were not allowed in this case, will be presented to a different jury as a part of DuPont’s antitrust and patent misuse lawsuit against Monsanto in September 2013. Sager remarked that “We continue to stand by our position that we did not infringe the Roundup Ready soybean patent and that the Monsanto patent is invalid. DuPont will continue to fight hard to ensure American farmers have choices and that no one company decides what is best for them.”
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