Dow 30 Movers to Watch: Boeing, Caterpillar, IBM, Coca-Cola Company
The Dow is up 0.43 percent today and currently stands at 13,056. These stocks are moving on the following news:
Boeing Co.’s (NYSE:BA) net orders for the first quarter totaled $42 billion, due to jumps in backlogs for both Commercial Airplanes and Defense, Space & Security. Further, the company forecasts Commercial Airplane deliveries of between 585 and 600, and that the unit has booked 412 new orders during the quarter.
Caterpillar Inc.’s (NYSE:CAT) first quarter earnings call contained information about the structure of the oil and gas business, which is said to be worldwide: “The largest segment of our oil and gas business is gas compression and actually the ample supply and relatively low prices are very positive for consumption. If you are going to consume it, you have got to move it, so actually what we are seeing in our oil and gas business overall has been pretty positive.”, according to a company executive.
International Business Machines Corp. (NYSE:IBM) has reached a definitive agreement to purchase private equity Pittsburgh firm Vivisimo, which supplies federated discovery and navigation software that assists in organizations gaining access to big data across the enterprise, and its analysis. The deal’s financials were not reported.
The Coca-Cola Company’s (NYSE:KO) Board of Directors okays a two-for-one stock split to shareholders. This is the first such split in the last 16 years, and only the eleventh in the 92 years of the stock being traded. Implementation of the move, which will bring the number of authorized shares of common stock from 5.6 billion to 11.2 billion, must be confirmed by shareholders, at a special meeting that is expected to be held on July 10th. If the split goes through, its record date will likely be July 27th, and each holder of record will receive one additional share of common stock for each share held, with new shares to be distributed on or around Aug. 10th.
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