Boeing Freighters Will Go to Lufthansa Cargo Upgrade and 2 Other Dow Movers to Watch
The Boeing Co. (NYSE:BA): Current price $119.45
Beginning in November, Lufthansa Cargo will upgrade its cargo fleet in the Trans-Atlantic, into which it will bring new Boeing freighters. The carrier will commence operating the 777F in November on trans-Atlantic routes from Frankfurt to Atlanta, Chicago and Newark. Lufthansa will take delivery of two aircraft in 2013, two in 2014 and one in 2015. The list price is $270 million but analysts say that major airlines typically pay around half of list prices.
Spokesperson for Lufthansa Cargo in Frankfurt Lara Kittler observed that, “The B777F is the most modern and most efficient freighter in the world. Additionally it is less noisy, but can carry more freight, than the MD-11F. So we can profit from a lot of advantages.”
E.I. DuPont de Nemours & Co. (NYSE:DD): Current price $59.66
Both DuPont and Dow Chemical Co. have lost their appeals in a final ruling at the European Union Court of Justice in Luxembourg, to reverse decisions that fined and held them liable for collusion to fix prices of a synthetic rubber utilized to manufacture hoses and condoms. On Thursday, the court rejected the appeals and arguments that the firms’ responsibility for a division that formed part of a joint venture, had been wrongly assessed. The European Commission’s fines against companies including Dow, DuPont and Eni SpA, came to $334.4 million and marked the third in two years against businesses in the rubber chemical industry.
Johnson & Johnson (NYSE:JNJ) Current price $87.09
According to FiercePharma, Johnson & Johnson’s Janssen business on Wednesday advised doctors that it expects further shortages of its cancer drug Doxil. The shortage is connected with problems at a Ben Venue Lab that supplies the drug to Janssen, said FiercePharma.