Chevron Wins Canadian Court Case and 2 Other Dow Movers To Watch
Chevron Corporation (NYSE:CVX): Current price $122.04
The Ontario Superior Court Justice David Brown has turned aside a bid by Ecuadorian villagers to have a Canadian court enforce the $19 billion judgment against the oil major Chevron Corp, ruling that the Canadian courts lack jurisdiction to enforce the controversial award handed down by an Ecuadorian court against the company. The award to the plaintiffs was made in Ecuador because of black sludge contamination of a rainforest between 1972 and 1990 by Texaco, which Chevron acquired in 2001. The oil giant maintains that it will not pay, saying that Texaco dealt with the problem before it was purchased.
Caterpillar (NYSE:CAT): Current price $84.31
Caterpillar has developed a Dynamic Gas Blending retrofit kit to be used on the Cat3512C engine employed in well stimulation applications. Available for order in June 2013, this system will provide maximum substitution of diesel fuel with natural gas, during high pressure pumping operations, and is available in both Air To Air After Cooled and Separate Circuit After Cooled configurations for 2250 hp and 2500 hp at 1900rpm ratings.
E.I. DuPont de Nemours & Company (NYSE:DD): Current price $53.77
DuPOnt reports that it is making impressive progress in the commercialization the Opteon YF (HFO-1234yf) refrigerant, and is making commercial shipments of the refrigerant from its facilities located in Japan and China. DuPont’s Opteon YF is a next-generation refrigerant, which a group of leading automakers confirmed is safe and effective for use in automotive applications. The product boasts a 99.7-percent lower global warming potential than the refrigerant it replaced; the risk of vehicle fire associated with this refrigerant is thought very rare.