United Continental Puts Down Big Boeing Order and 3 More Hot Stocks
Boeing Co. (NYSE:BA): Boeing has officially revealed its expanded 787-10 aircraft, which is essentially an elongated version of the 787 and can seat up to 330 people. Five buyers have already put down for 102 of the planes; among them, United Continental (NYSE:UAL), which will be the first North American carrier to put the 787 into service. The airline booked 20 of the new jets, including 10 upgrades on previous orders of the standard 787.
Citigroup (NYSE:C): While most companies look to float their money offshore to avoid paying U.S. taxes, Citigroup is doing exactly the opposite: it’s trying to rack up more taxes domestically — not because it wants to pay more, but because the bank has $55 billion in tax credits that it wants to use up. The bank purchased $7 billion worth of credit card debt issued to Best Buy customers from Capital One, and CEO Michael Corbat said that taxes played a deciding role in the deal.
Medtronic Inc. (NYSE:MDT): Two independent analyses found that Medtronic’s controversial Infuse bone-growth implant for spine surgery is no better than a traditional operation, with rates of complication remaining consistent regardless of the treatment used. The company’s Infuse treatment generated $528 million in sales in the last fiscal year for Medtronic, which commissioned the studies and has been accused that doctors who originally supported the treatment had significant financial ties to the company.
Smithfield Foods (NYSE:SFD): Smithfield has intentions to review a letter from shareholder Starboard, which contends that by splitting up into three and then selling itself rather than going through with its $4.7 billion acquisition by Shuanghui, smithfield could generate more value for its shareholders. Despite the request, Smithfield reiterated its recommendation that shareholders vote for the Shuanghui deal, as it provides “significant, immediate and certain” cash value to shareholders.
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