Chevron AFFECTED by Lowered Production and 3 Dow Movers Trending Now
Boeing Company’s (NYSE:BA) 787 Dreamliner will not see competition from the new A350 until 2014, as Airbus, which is part of EADS (EADSY), says it is postponing the its launch. The firm commented that, “Entry-into-Service has moved into second half of2014 mainly due to the time taken for the implementation of the automated drilling process for the wings. A charge of €124 million has been booked in the second quarter which accounts for the actual delay of around three months. The A350 XWB remains a challenging programme and any further delays would lead to higher rates of charges.”
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Bank of America Corporation (NYSE:BAC): The market for securities lending, which is worth approximately $800 billion, could become more transparent when Fidelity Investments initiates a pricing service designed towards that effect, say sources to the Wall Street Journal. This move is intended to go up against competitor Wall Street companies.
Cisco Systems, Inc. (NASDAQ:CSCO): Microsoft (NASDAQ:MSFT) concluded in its annual report submitted Thursday afternoon, that its new Surface tablet might possibly undermine PC maker support for Windows, as its devices will compete against tablets that they sell, according to a New York Times report.
Chevron Corp. (NYSE:CVX): Global net oil-equivalent production fell year-over-year in the second quarter of 2012 from 2.69 million barrels per day in the 2011, to 2.62 million barrels per day. Production was boosted by project ramp-ups in Thailand, the United States and Nigeria, but this was more than outweighed by normal field declines, the shut-in of the Frade Field in Brazil, maintenance-related offline time and dispositions. Domestic upstream earnings of $1.32 billion in the second quarter 2012 dropped $632 million from 2011, mostly because of lower crude oil and natural gas realizations, smaller production and the lack of gains on asset sales.
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