Boeing Will Expand Its Montana Manufacturing Facility and 2 Other Dow Movers to Watch
Boeing Co. (NYSE:BA): Current price $117.42
Boeing on Tuesday announced it will expand its manufacturing site in Helena, Montana, by close to 50 percent to meet demand for Boeing commercial airplanes and new work for the Boeing 787-10 Dreamliner. Boeing CEO Jim McNerney, along with Sen. Max Baucus and Gov. Steve Bullock, made the announcement at the Montana Jobs Summit in Butte. The expansion will add more than 55,000 square feet of manufacturing space, bringing the Boeing Helena facility to 167,099 square feet.
Chevron Corp. (NYSE:CVX): Current price $124.93
Chevron has reached an agreement with prosecutors in Brazil for the resolution of lawsuits over an oil spill off the country’s coast near Rio de Janeiro. Through the terms, Chevron is liable for $41.6 million as compensation for the spill of some 3,000 barrels of crude oil in November 2011 while drilling at the Frade oil and gas field, which is based 370 kilometers offshore Rio de Janeiro and at a water depth of about 1,128 meters. Frade field’s output is 60,000 barrels of oil per day and is estimated to have recoverable oil of between 200 million and 300 million barrels. Chevron is the operator of the field with 51.74 percent ownership, and the Brazilian energy giant PetroBras retains 30 percent.
United Technologies Corp. (NYSE:UTX): Current price $111.25
United Technologies’s Pratt & Whitney division perceives a potential opportunity to get aboard bigger aircraft as Bombardier’s CSeries aircraft finishes its maiden flight equipped with new turbofan engines from its parent. Bombardier’s new narrow-body jet will rival Airbus’s A318, and Boeing is adding to the already intense competition in that market. Meanwhile, Pratt & Whitney has plans to construct a turbofan engine for larger wide-body jets during increasing demand for more fuel-efficient planes.
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