Market News
GE (GE)
GE's GE Transportation has announced a Letter of Intent (LOI) with China's Ministry of Railways valued at $1.4 billion, including $350 million for export in locomotives, locomotive sub-assembly kits, service support and railway signaling systems.
These exports have the potential to sustain or create approximately 2,000 high-tech manufacturing jobs in the U.S.
Jan 20 · 4:08:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Southwest Airlines (LUV)
Southwest Airlines's CEO said Thursday he would be comfortable operating three different aircraft types. Southwest is the largest 737 customer with a fleet of almost 550, and will acquire Boeing's smaller 717 plane when it buys AirTran Holdings Inc. (AAI), a deal seen closing in the second quarter.
This move intensifies pressure on Boeing Co. to decide whether to revamp its best-selling 737 or replace it with an all-new plane.
Jan 20 · 3:54:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Morgan Stanley (MS)
Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.
Jan 20 · 3:45:00 PM
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Housing
Sales of existing U.S. homes jumped 12.3% in December over November's levels, the National Association of Realtors said. December's existing-home sales rose to a seasonally-adjusted annualized rate of 5.28 million.
This provides an encouraging end to the worst year since 1997, as the collapse in house prices and a wave of foreclosures depressed activity over the 12-month period.
Jan 20 · 3:40:00 PM
email · face · Twitter · digg · COMMENTS
by Larry Etter
US Airways (LCC)
UAL Corporation (NASDAQ:UAUA0, the parent of United Airlines, and US Airways (NYSE:LCC) are in talks to merge, in a potential deal that would create one of the world’s largest airlines, people briefed on the matter told the New York Times DealBook on Wednesday. United and US Airways are deep in their merger discussions, though a transaction is not expected to be announced for at least several weeks.
Terms of the deal could not be learned. One issue being worked on is the management structure of the combined company. With both leisure and business travel down steeply, many analysts have argued that the United States still has too many airlines chasing too few passengers.
Apr 7 · 9:09:00 PM · Source: The New York Times
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Ford (F)
Ford (NYSE:F) has agreed to sell its Volvo Cars unit to Chinese automaker Zhejiang Geely Golding Group (Zhejiang Province, China) for $1.8 billion, significantly less than the $6.45 billion Ford paid for Volvo in 1999, according to MarketWatch. In 2008, Ford sold the Jaguar and Land Rover brands to Tata Motors Limited, an Indian automaker, for $1.7 billion, much less than Ford originally paid for the brands.
Ford, under the direction of Alan Mulally, has significantly impacted US auto manufacturing, production and thinking, the same way that he did when he was at Boeing. Ford, the only one of the Big Three that did not take a bail-out, is slated to lead the US auto industry out of the slump that it's in, currently.
Mar 30 · 12:10:00 PM · Source: Market Watch
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Republic Airways (RJET)
Employees and supporters of Frontier Airlines are worried Republic Airways (NASDAQ:RJET) may ditch the name and "spokesanimals" when the company decides on a new brand for its subsidiaries next month, according to 9News.com. A group, calling itself "Keep the Frontier Brand and Animals!!!" on Facebook, brought forward close to 150 Frontier employees Thursday afternoon. It marched from the State Capitol in Denver, CO to the 16th Street Mall and back to rally support for Frontier's name and more than 60 animals including "Larry the Lynx" and "Grizwald the Bear," who are featured on the planes' tails.
Protestors say they are worried that if the name and animals are permanently grounded, the employees will have to start from the ground up to build trust, loyalty and reputation. "We can't start over with a generic brand," Frontier pilot and rally organizer Janet Elliott said. "This truly is a family, and you really don't see that with any other airline." Republic Airways bought Frontier Airlines last year in a bankruptcy auction for $108.8 million and moved its hub to Indianapolis. It also purchased Midwest Airlines and said it wants to re-brand the whole fleet.
Mar 26 · 1:09:00 PM · Source: 9News.com
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
AMR (AMR)
The Allied Pilots Association (APA), certified collective bargaining agent for the 11,500 pilots of American Airlines (NYSE: AMR), voiced its support for H.R.4788, the "Aviation Jobs Outsourcing Prevention Act", according to TradingMarkets.com. Introduced earlier this month by U.S. Rep. Timothy Bishop (D-NY), the bill would establish job protections for U.S. workers by placing limits on alliances between two or more airlines, or between a domestic carrier and a foreign carrier.
The bill's language stipulates that the U.S. Department of Transportation could "end approval of any agreement, request or modification that provides for or permits the sharing or pooling of revenue or profits between participating carriers."
Mar 26 · 12:22:00 PM · Source: TradingMarkets.com
Track · email · face · Twitter · digg · COMMENTS
by Steve Wieczorek
Previous · Next
Advertisement