Capital Goods Sector Review: Astronics Revenue Report, Honeywell Files Against Nest Labs
Caterpillar Inc. (NYSE:CAT) Japan, the joint venture between Caterpillar (NYSE:CAT) and Mitsubishi Heavy Industries, is reconfiguring some assembly lines to increase production capacity for hydraulic excavators from 1,500 units a month last year to 2,000, reported Nikkei.
The shares closed at $113.78, down $0.16, or 0.14%, on the day. Its market capitalization is $73.57 billion.
The Boeing Company (NYSE:BA): Government contractors such as Northrop Grumman (NYSE:NOC) and Booz Allen Hamilton (NYSE:BAH) cut expenses during Q4 in order to keep their profits high, according to The Washington Post. Some analysts, however, question, whether the cost-cutting can continue over the long-term, the newspaper added.
The shares closed at $75.46, down $0.88, or 1.15%, on the day. Its market capitalization is $56.20 billion.
Honeywell Intl. Inc. (NYSE:HON) filed a patent infringement lawsuit against Nest Labs in the United States District Court for the District of Minnesota. The lawsuit alleges infringement of seven Honeywell patents related to its thermostat technology. The lawsuit seeks to enjoin Nest Labs and Best Buy (NYSE:BBY), which sells the Nest Labs thermostat, from using Honeywell’s patented technology and to recover damages caused by the infringement.
The shares closed at $60.31, down $0.43, or 0.71%, on the day. Its market capitalization is $46.65 billion.
Astronics Corporation (NASDAQ:ATRO) reported revenue $61.2M vs. consensus $56.42M.
The shares closed at $35.07, up $1.66, or 4.97%, on the day. Its market capitalization is $428.27 million.
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