GE Aviation RECEIVES $1B RSAF Order and 2 Hot Stocks Moving the Market
Oil well equipment maker Robbins & Myers (NYSE:RBN) is acquired by oilfield-equipment company National Oilwell Varco (NYSE:NOV) in a $2.54 billion cash deal that pays $60 per share, a 28 percent premium on the former’s Wednesday close.
Fast food chain Wendy’s (NYSE:WEN) reports a growth of 3.2 percent in same-store sales compared to 2.3 percent in the year-ago period; restaurant margins were up 20 bps to 14.1 percent as expenses remained steady while price increases boosted average sale per customer.
The Royal Saudi Air Force orders 193 engines from GE Aviation (NYSE:GE) in a $1 billion deal; the F110 engines will be fitted to 84 twin-engine, Boeing (NYSE:BA) F-15SA aircraft, making RSAF the biggest user of F110 engines after the U.S. government.
Don’t Miss: Here’s Why the iPhone Remains on the THRONE.