Chevron RISES 2.3% with 2 Dow 30 Giants in Action
Boeing Co. (NYSE:BA), and peers Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC), will be significantly impacted by the $50 billion in new defense cuts at the beginning of 2013, and will likely need to lay off thousands of workers in response.
Don’t Miss: Here’s Exxon’s Unconventional New Investment.
Chevron Corp. (NYSE:CVX): Oil stocks rose for a third straight day, owing to both lower stockpiles, and signs of improvement in the U.S. economy, according to Bloomberg. Inventories of crude fell by 1.8 million barrels to 384.1 million, says the American Petroleum Institute, and West Texas Intermediate futures rose by approximately 1.3 percent.
EI DuPont de Nemours & Co. (NYSE:DD) reports that “developing Europe” comprises around 15 percent of its revenue base, and that Latin America “held up fairly well for us” in the first quarter, but signs of slowing are being seen there now.
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