Headline News
Unemployment
Jobless Claims Climbing; Durable Goods Orders Weak
New orders for long-lasting U.S. manufactured goods excluding transportation unexpectedly fell in January, while the number of workers filing for jobless benefits rose last week, suggesting a loss of momentum in the pace of economic recovery.
The Commerce Department said on Thursday orders excluding transportation fell 0.6 percent last month after increasing 2.0 percent in December. That was below market expectations for a 1.0 percent rise.
However, overall orders jumped 3.0 percent, the biggest gain since July, as aircraft bookings soared. That was well above market expectations for a 1.5 percent rise. Orders increased 1.9 percent in December.
Separately, initial claims for unemployment benefits rose 22,000 to 496,000 last week, the Labor Department said.
Analysts had expected jobless claims to fall to 455,000.
Feb 25 · 5:10:00 PM · Source: CNBC
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by Michael Oliveto
General Dynamics (GD)
GD Delivers Lewis and Clark-class Supply Ship
General Dynamics NASSCO, a wholly owned subsidiary of General Dynamics, delivered USNS Matthew Perry (T-AKE 9) to the U.S. Navy. The ship is named in honor of Commodore Matthew C. Perry (1794-1858), the U.S. Navy officer who established American trade with Japan in the mid-19th century.
NASSCO began construction of USNS Matthew Perry in April 2008. The
689-foot-long supply ship will serve under the Navy's Military Sealift
Command. The ship is capable of delivering almost 10,000 tons of dry cargo
and petroleum products at one time to U.S. Navy and allied ships underway at
sea.
Feb 25 · 4:08:00 PM · Source: Reuters
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by Michael Oliveto
3M Company (MMM)
3M Mobile Dictation Software Released on iPhone
3M Health Information Systems has released 3M™ Mobile Dictation Software on the iPhone® platform, giving physicians greater control over their dictation workflow. The advanced mobile application, also available on the BlackBerry® and Windows Mobile® platforms, offers physicians the freedom of using a single device for phone, email, and dictation, and provides “anytime, anywhere” access via Wi-Fi or 3G wireless service.
Using 3M Mobile Dictation, physicians can dictate notes, view patient lists, and display current patient information on the smartphone screen, saving time and freeing them to focus on patient care. The software provides always-on connectivity, eliminating the need to synchronize smartphones to a dictation system, and is enhanced with a full range of security features that fulfill HIPAA and hospital-specific guidelines for encryption and authentication.
Feb 25 · 3:55:00 PM · Source: Company Press Release
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by Michael Oliveto
Boeing (BA)
Boeing and United Airlines Finalize 787 Order
Boeing and United Airlines have finalized an order for 25 787-8 jetliners. The agreement includes the opportunity to purchase another 50 Dreamliners. The order is valued at $4.2 billion at average list prices.
United expects to take delivery of the 787s at the same time it will begin to retire its Boeing 747s and 767s operating on international routes.
"Boeing and United Airlines share an 80-year partnership," said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. "United, which launched the Boeing 777, now begins a new chapter with the 787 Dreamliner, the most technologically advanced commercial jetliner ever built."
Feb 25 · 3:44:00 PM · Source: Company Press Release · Related: UAL Corp.
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by Michael Oliveto
Boeing (BA)
Boeing's ZA004 Joins 787 Flight-Test Program
A third airplane has joined the Boeing 787 Dreamliner flight-test program. ZA004, the fourth flight-test airplane to be built, took off at 11:43 a.m. local time from Paine Field in Everett, WA.
The program plan called for ZA004 to fly before ZA003 because the data ZA004 is collecting is needed more quickly both for certification and development of the 787-9.
"Airplane No. 4 operated flawlessly today," Captain Heather Ross said after landing. "We've got a lot of work ahead of us but I can't imagine a better start to the flight test program for this airplane."
Feb 25 · 3:40:00 PM · Source: Company Press Release
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by Michael Oliveto
Housing
January New Home Sales Falls 11%
Sales of new homes in January fell 11 percent to an annual pace of 309,000, figures from the Commerce Department showed today. The median sales price dropped 2.4 percent from January 2009 and the supply of unsold homes increased.
The dip in new home sales number was unexpected and the number is the lowest level on record, a sign that an extension of a government tax credit may not be enough to respark demand.
Feb 24 · 10:15:00 AM
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by Larry Etter
Exxon Mobil (XOM)
French Labor Unrest Threatens Gas Shortages
A strike squeezing French oil refineries spread Tuesday to facilities owned by ExxonMobil, raising the pressure on Total SA and the government to ward off gas shortages.
Workers at an ExxonMobil-owned Esso depot joined in the walkout Tuesday to support their Total colleagues, who have been striking since last week over plans to close a plant in northern France.
The Esso depot in Port Jerome, on the English Channel, was closed before dawn for lack of workers, CGT union organizer Laurent Delaunay said. Workers at an Esso refinery in neighboring Notre-Dame-de-Gravenchon, France's second-largest refinery, were set to walk out later Tuesday.
Together, Total and Esso refineries account for about 70 percent of France's refining capacity.
A prolonged strike and serious gas shortages could be bruising for French President Nicolas Sarkozy's government as it faces regional elections in less than three weeks. The refinery blockages come amid other acts of unrest among French workers, including an air traffic controllers' strike canceling hundreds of flights Tuesday.
Feb 24 · 12:31:00 AM · Source: Forbes
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by Michael Oliveto
Boeing (BA)
Boeing Continues Layoffs
Boeing will lay off 527 employees in the Puget Sound area by April 23, most of them from its Engineering, Operations and Technology unit.
The layoffs, detailed by Boeing in a WARN (Worker Adjustment and Retraining Notification Act) notification, are part of a larger group of 1,020 workers companywide who received layoff notices on Friday. The layoffs are part of a 10,000-person force reduction plan announced last year by Boeing CEO Jim McNerney.
Feb 23 · 11:57:00 PM · Source: MSN Money
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by Michael Oliveto
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