Olympic Officials NOT LOVIN’ McDonald’s and 4 Dow Drivers to Watch
General Electric Company’s (NYSE:GE) jet-leasing division should soon give Boeing (NYSE:BA) a big win in its rivalry with Airbus SAS (EADSY), in the form of an order for 100 737 narrow-body aircraft, in the very near term.
Hewlett-Packard Company’s (NYSE:HPQ) Enterprise Services reported that the Delaware Division of Medicaid & Medical Assistance has signed a $50 million contract for Hewlett-Packard, to continue providing Medicaid fiscal-agent services for three years. Under the agreement’s terms, H-P will continue the management of the state’s Medicaid Management Information System, which was certified by the federal Centers for Medicare & Medicaid Services in 2003 as the first state Medicaid systemin compliance with the Health Insurance Portability and Accountability Act. Additionally, H-P will continue supplying a wide range of Medicaid services, which include pharmacy and medical claims processing, eligibility verification, call-center support and administration of the state’s drug rebate program. The contract, effective July 1st, includes two one-year extension options, continues an ongoing relationship from1989. HP currently processes more than 17 million claims a year for more than 8,800 healthcare providers across Delaware.
International Business Machines Corp. (NYSE:IBM): Global information tech spending is on track to reach $3.6 trillion in 2012, up 3 percent from the 2011 figure of $3.5 trillion, this from the latest outlook by Gartner (NYSE:IT). Richard Gordon, research vice president at Gartner, comments that “While the challenges facing global economic growth persist the eurozone crisis, weaker U.S. recovery, a slowdown in China the outlook has at least stabilized. There has been little change in either business confidence or consumer sentiment in the past quarter, so the short-term outlook is for continued caution in IT spending.” Gartner’s 2012 IT spending outlook has been revamped up a bit from the 2.5 percent forecast of the last quarter, and the firm expects enterprise spending on public cloud services to jump from $91 billion worldwide in 2011 to $109 billion in 2012. Worldwide IT services expenditures are forecast to reach $864 billion in 2012, which represents a 2.3 percent rise from 2011.
JPMorgan Chase & Co. (NYSE:JPM): U.S. bonds have a new importance within Wall Street banks, owing to chatter that a slowing economy and global financial turmoil will only give them more prominence. Consequently, they are being held by the banks, rather than being sold to the Fed, says Bloomberg, whose data suggest that the world’s biggest bond dealers offered an average of only $7.2 billion in Treasuries per day to the Fed in June, a number down 40.5 percent from an October peak of $12.1 billion.
McDonald’s Corporation’s (NYSE:MCD) continued sponsorship of the Olympic games is being questioned by top Games officials, said Jacques Rogge, president of the International Olympic Committee, to the Financial Times.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.