Boeing Seeks Answers for 787 Fire, Dell Reviews Icahn’s 5th Proposal, and 3 More Hot Stocks
Boeing Co. (NYSE:BA): Though it was made apparent that the cause of the fire on an Ethiopian Airlines 787 jet in London was not related to the lithium-ion batteries, the investigation into what actually caused the fire might take several days. Early indications suggest that the blaze burned in the overhead area toward the back of the plane, with substantial heat damage affecting the exterior of the fuselage itself. The eyes of investigators and Boeing alike are on the plane’s new composite material design for clues.
Dell Inc. (NASDAQ:DELL): ”We are today reviewing the fifth proposal from Carl Icahn,” according to the Dell board in a statement. “It is important to note that all of Mr. Icahn’s various proposals require abandoning an all-cash transaction…with a high degree of closing certainty.” Votes for new ownership of the computer manufacturer are due Thursday, and the committee continues to recommend the offer put forth by Michael Dell and Silver Lake Asset Management. “Most important, we believe it is critical that Dell shareholders not be distracted from the clear choice they must make next week to take $13.65 per share in cash or bear the risks of continuing to hold their Dell shares,” the statement continued.
IMAX Corp. (NASDAQ:IMAX): IMAX has furthered its expansion in Asia, with plans for 35 new theater openings across China and South Korea in a partnership with Korea’s CJ GGV Holdings. The deal includes 30 theaters to be installed in new construction projects across China as well as five previously optional theaters in South Korea, now confirmed, which are subject to final documentation, Deadline reports.
Tesla Motors (NASDAQ:TSLA): Tesla has received a bullish upgrade from Northland Capital’s Colin Rusch, who put a $230 price target on the shares. He justified the decision by noting that with a little bit of retooling, the company’s current Fremont facilities could “accommodate a run rate of as many as 500K vehicles/year.” The biggest question now is whether demand for the premium vehicles could support such a production rate.
Abbott Laboratories (NYSE:ABT): Abbott has gone shopping and returned with privately held IDEV Technologies for $310 million and ophthalmic device firm OptiMedica for $250 million up front and up to $150M in milestone payments. IDEV develops a stent for treating blockages in blood vessels due to peripheral artery disease, while the purchase of OptiMedica now allows Abbott to more easily enter into the laser-cataract surgery market, Seeking Alpha reports.