Standout Dow Stock Business Buzz
Here’s your Cheat Sheet to the week in Dow 30 business news:
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
AT&T (NYSE:T): Current price $33.44
Pivotal Research Group reaffirmed its rating on AT&T, maintaining a Hold and $32 price target. This target implies a drop of 6.5 percent from the stock’s current price of $34.10.
The Boeing Company (NYSE:BA): Current price $75.04
Boeing and negotiators who represent 23,000 engineers should to resume contract negotiations Wednesday, after the delivery of the full terms of the firm’s latest offer, says Reuters. However, the FAA is initiating an inquiry into the safety of Boeing’s 787 aircraft that will necessitate thorough scrutiny of Boeing’s engineering operations, so hopes of an accord regarding a new contract might be further delayed.
Airbus (EADSY) posted a 43 percent slide in orders and thus surrendered its title as the world’s biggest plane maker to Boeing last year, as it forecast improvements in orders and deliveries for 2013, while airlines anticipate reduced fuel costs. When the numbers are adjusted for cancellations, Airbus had 833 net orders while Boeing led on net orders with 921 aircraft, according to Reuters.
Boeing is said to be proposing a “complete health check” on the batteries in its 787 Dreamliner jets, while an inquiry by Japanese and American authorities into its troubled, technologically advanced aircraft goes forward. The Seattle Times reports that Boeing suggested the battery check and procedural changes for pilots as possible interim methods through which to get the planes in the air again, in intensive discussions with FAA officials. The Dreamliner has been grounded in a number of countries by aviation authorities, including the FAA.
United Technologies Corporation (NYSE:UTX): Current price $86.95
Ducommun (NYSE:DCO) has reached a four-year agreement with TECT Power through which to perform chemical milling services for titanium fan blades which are used in Engine Alliance GP7200 engines. The GP7200 fan blades are manufactured by Pratt & Whitney, a division of United Technologies and partner with GE Aviation in the Engine Alliance joint venture. The contract has a potential value of $6 million, and will continue through 2016 with Ducommun AeroStructures performing the work at the firm’s El Mirage, California facility.
United Technologies’ Sikorsky Aircraft Corp. subsidiary, and The Boeing Company (NYSE:BA) reached a teaming accord on January 13th to submit a joint proposal in response to the United States Army Aviation Applied Technology Directorate solicitation for the Army’s Joint Multi-Role Technology Demonstrator Phase 1 program. The JMR TD supports the Defense Department ‘s Future Vertical Lift program to provide the next generation of vertical lift aircraft with greater performance, reliability and affordability. The Sikorsky and Boeing team will rival to build and fly one or more demonstrator aircraft in 2017 to be evaluated for next-generation vertical lift performance in a medium-lift-sized aircraft.
General Electric Company (NYSE:GE): Current price $22.04
GE Oil & Gas has been awarded a contract with a value in excess of $500 million to provide turbomachinery equipment and services to Petrobras (NYSE:PBR). The arrangement will serve the four new floating production, storage and offloading units in the Cesso Onerosa region of the Santos Basin pre-salt fields in the state of São Paulo. Besides core equipment, the new contract includes technical help for installation and commissioning start-up and extensive services like repair, dedicated local field service engineers and customer training.
GE reports that China National Petroleum Corporation will install five of its ecomagination-qualified Jenbacher cogeneration systems at a new data center that CNPC is constructing in the Beijing district of Changping. The National Energy Administration Bureau of China okayed the project, which will serve as a model for other data center power projects there.
Alcoa’s (NYSE:AA): Current price $9.00
Alcoa Oil & Gas will provide 5,300 meters of aluminum alloy drill pipe to Fugro McClelland Marine Geosciences of Houston and Fugro Singapore for their use in offshore geotechnical survey drilling projects.
Don’t Miss: Congress Banks on These 5 Stocks.