GE Aviation to Build Parts Facility in Western NC and 2 Other Dow Movers to Watch
General Electric Company (NYSE:GE): Current price $23.78
GE Aviation, which specializes in jet engines and aircraft system output, will begin construction sometime this year on a parts factory in Western North Carolina near the mountain resort of Asheville. The General Electric division’s new facility is being raised adjacent to an existing GE machining plant. GE Aviation reports that the new factory will produce engine components made from advanced ceramic matrix composite materials, and that hiring at the new plant may start as early as 2014, with a workforce at the factory possibly expanding to over 340 people within five years. The new facility is part of a greater commitment by GE Aviation to invest some $195 million across its North Carolina operations through 2017.
JPMorgan Chase & Co. (NYSE:JPM): Current price $53.86
On Monday, JPMorgan introduced meaningful enhancements to its collateral management arm, so as to aid clients in sorting out new industry regulations. Central to these enhancements is Collateral Central, which is a dynamic, real-time service supplying clients with margin management, advanced asset tracking, proprietary optimization algorithms, and analytics in support of collateral activities throughout a wide range of derivatives, securities and cash transactions in real time. The intro of these capabilities lets the management of collateral transition from an operational consideration to the front line of trading and portfolio management decision making.
Chevron Corporation (NYSE:CVX): Current Price $121.21
The government-owned oil firm Sonangol of Angola and Chevron have finally shipped their first cargo of liquefied natural gas on Sunday, following over a year of postponements. Originally, a $10-billion joint venture between the two entities had intended to ship out LNG on a commercial scale in early 2012, but the project was posed with a number of delays, and a robust domestic natural gas market in the United States. Chevron has called the event an “important milestone.” The Angola LNG project is set to collect and move gas from offshore fields to a plant located in the city of Soyo, at the mouth of the Zaire River, which has the capacity to receive 1 billion cubic feet per day of gas.