More 787 Issues for Boeing, Verizon Squares Off with FCC, and 3 More Hot Stocks
Boeing Co. (NYSE:BA): Norwegian Air, which has two of Boeing’s new 787 Dreamliner planes in service, was forced to ground one of them after technical problems were experienced prior to a flight from Oslo to Bangkok on Saturday. The aircraft had to stay grounded because it had problems generating enough electricity, company spokesman Lasse Sandaker-Nielsen said Monday to The Wall Street Journal. Norwegian Air’s other 787 was grounded much of last week due to brake problems.
Verizon Communications (NYSE:VZ): Verizon and the Federal Communications Commission are scheduled to make oral arguments in a U.S. Court of Appeals on Monday over whether the company should be allowed to manage its network as it wishes. The results of the arguments will likely have resounding repercussions for the industry as a whole. Verizon is fighting for the ability to charge fees to content providers so that their data is delivered to customers through an express lane; the FCC is arguing that Internet service providers should keep the channels as open as possible so that all suppliers of legal content have equal ability to send their products over the Web, Seeking Alpha reports.
Time Warner Cable (NYSE:TWC): Time Warner Cable, along with a handful of other major companies, will be moving its U.S.-based retirees from company-sponsored health programs to private exchanges on January 1. Time Warner will provide the money that retirees can use to shop around for coverage. Corporations have been looking for ways to control their health care costs by using the “defined contribution” model that was implemented for pensions some time ago.
GlaxoSmithKline (NYSE:GSK): The British pharmaceutical juggernaut agreed to sell its Lucozade and Ribena drink brands to Japan’s Suntory for 1.35 billion pounds and use the proceeds of the sale to pay down debt and other general corporate needs. The company first announced its intent to sell in April.
Amazon.com (NASDAQ:AMZN): Spokesman Drew Herdener told Bloomberg that the retail giant has no intentions of launching a mobile phone this year, and even if the retailer does sell a handset sometime in the future, the company won’t give it away for free. Amazon has a history of subsidizing its tech gadgets, but it appears that this model will not come through quite to that extent when the device is ultimately released.