Home Depot and 3 Dow 30 Movers Making Waves Now
The Dow is up 0.41 percent Tuesday and stands at 12,748. These stocks are moving the Dow now…
Boeing Company’s (NYSE:BA) supplier of critical components, Alestis Aerospace, has cut back its production due to the impact of the financial crisis in Europe. This presents some risk to the airliner programs, not only to Boeing, but also to Airbus (EADSY) and Embraer (NYSE:ERJ), according to a Wall Street Journal report.
Bank of America Corporation’s (NYSE:BAC) approval process for the controversial resolution between its directors and shareholders has been refused a delay by U.S. District Judge Kevin Castel in New York, says Reuters. The settlement will amount to some $20 million, and has to do with shareholders alleging that the Bank payed too much for Merrill Lynch & Co. during the financial crisis.
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Cisco Systems, Inc. (NASDAQ:CSCO): A shortage of Snapdragon S4 processors, said to be caused by the insufficient capacity at the Taiwan Semiconductor Manufacturing Company’s 28nm foundry, is prompting smartphone vendors to think about obtaining the items from other suppliers than Qualcomm (NASDAQ:QCOM), whose own supplies are short due to the Taiwan problem, says DigiTimes.
The Home Depot, Inc. (NYSE:HD) reports seeing “some positive signs” in the housing market, such as the “pro business” picking up a faster pace, which implies a trickle down type of process in which the larger customers recover ahead of smaller ones, spreading increases in demand from the top down. On the other hand, HD observes that though pricing is not yet solid, it is stabilizing, and that shadow inventories remain a worry though inventories themselves are moving lower.
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