Disney Puts End to Partnership With Bruckheimer and 2 Other Dow Movers to Watch
Walt Disney Co. (NYSE:DIS): Current price $64.96
As Disney concentrates on Pixar, Marvel, and Lucasfilm Ltd. projects, the company announced that it will end its movie partnership with Jerry Bruckheimer, who produced Pirates of the Caribbean and The Lone Ranger. The arrangement with Bruckheimer, who is one of the best-known action producers in Hollywood, will not be renewed when it expires next year, Disney said Thursday in a statement. The first four Pirates of the Caribbean films brought in $3.73 billion in the worldwide box office, but Bruckheimer stumbled in July with The Lone Ranger, which could cost $190 million in losses for Disney.
Caterpillar Inc. (NYSE:CAT): Current price $
Caterpillar reported for the ninth straight month a drop in rolling global retail machine sales, led by declines in the Asia Pacific region. Total machine sales posted by dealers fell by 10 percent in the three months through August, year-over-year, versus a 9 percent fall in the quarter through July, according to a company filing. The last time Caterpillar posted world retail machine sales growth was in the rolling three-month period that ended November 30.
United Technologies Corp. (NYSE:UTX): Current price $
United Technologies’s Pratt & Whitney recently released a statement regarding its intentions to discontinue its joint venture with Rolls Royce Holdings PLC. The company said the strategy is meant to encourage fair competition in the market during a robust regulatory environment. Two years ago, the two forces in commercial aircraft engines worked together to create a joint venture through which to make engines that would power midsize aircraft with a passenger capacity of between 120 and 230 people. However, both firms decided that the regulators would oppose the monopolistic market share of the joint venture and consequently elected to move forward without it.