BofA Reports Slim Profit and 3 Dow Movers Changing Hands Today
The Boeing Company (NYSE:BA) reported Wednesday that it is initiating production of refueling booms for its KC-46 tanker at a new assembly facility in Seattle. The company added that the step represents an important milestone as it moved from design to production of a key component for the tanker.
Bank of America Corporation (NYSE:BAC) posted a slim quarterly profit on Wednesday which marks a small success for the firm, subsequent toits shelling out huge payments to resolve allegations that it misled investors in regards to its takeover of Merrill Lynch during the financial crisis. Also, the bank reported $340 million in net income, marking a 95 percent fall year-over-year from the $6.23 billion profit it posted in 2011. The results came to zero cents per diluted share in contrast to 56 cents last year.
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Cisco Systems (NASDAQ:CSCO) and Citrix Systems (NASDAQ:CTXS) say that there will be a significant expansion of their successful desktop virtualization partnership into three strategic areas that include cloud orchestration, cloud networking, and mobile workstyles. The expanded collaboration will include a significant investment in people and resources to drive market-leading tech innovation, customer support, solution integration and validation, and joint go-to-market investment on a worldwide basis.
Chevron Corporation (NYSE:CVX): Word that Germany might lower its opposition to a bailout for Spain has allowed oil to trade around the highest level in a week in New York after industrial output increased more than had been forecast in the United States, says Reuters. The price for crude for November delivery was up by 2 cents at $92.11 per barrel in electronic trading on the New York Mercantile Exchange earlier Wednesday. The contract for Tuesday soared 24 cents to $92.09, marking the highest settlement since October 9th.