Market News

Delta Air Lines (DAL)

Delta Air Lines Inc., the world’s largest airline, posted a third-quarter net loss of $161 million as passenger revenue fell. Total operating revenue declined 21% versus prior year due to the global economic recession.

Oct 22 · 10:46:00 AM · Source: Company Press Release
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by Larry Etter

United Parcel Service (UPS)

United Parcel Service Inc (UPS.N), the world's largest package delivery service, reported a 43 percent drop in earnings that nonetheless topped analysts' forecasts, saying that cost-cutting helped its profit margins. It said Thursday third-quarter profit fell to $549 million, or 55 cents per share, from $970 million, or 96 cents per share, a year earlier. Revenue tumbled 14.9 percent to $11.15 billion.
Analysts on average had looked for earnings of 52 cents per share, according to Thomson Reuters I/B/E/S, and they were expecting $11.17 billion in revenues.

Oct 22 · 10:18:00 AM · Source: Reuters
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by Larry Etter

US Airways (LCC)

US Airways Group Inc (LCC.N) posted a smaller-than-expected quarterly loss on Thursday, which Chief Executive Doug Parker said hints at a "soft, but improving economic environment." The company said its net loss amounted to $80 million, or 60 cents per share, compared with a loss of $866 million, or $8.46 per share, a year earlier. Total revenue in the third quarter fell 16.6 percent from the year-ago period due to a 3.6 percent decline in total available seat miles, the airline said

Oct 22 · 9:40:00 AM · Source: Reuters
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by Larry Etter

Eastern Company (The) (EML)

The Eastern Company (NYSE Amex-EML) today announced the declaration of its regular quarterly cash dividend of nine cents ($0.09) per share, payable December 15, 2009, to common stock shareholders of record as of November 20, 2009. This dividend represents the Company’s 277th consecutive quarterly dividend.

Oct 21 · 3:39:00 PM · Source: Business Wire
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by Larry Etter

GE (GE)

GE announced today the formation of the “GE Healthymagination Fund”, a new equity fund that will make investments in highly promising healthcare technology companies.
The fund will invest in companies globally that have innovative diagnostic, IT, and life sciences technologies aligned with the strategic objectives of GE’s Healthymagination initiative. The fund will also support healthcare companies developing innovative and unique business models and services.

Oct 21 · 3:35:00 PM · Source: Business Wire
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by Larry Etter

GE (GE)

GE and SonoSite, a developer of hand-carried ultrasound systems for the point-of-care, have resolved all pending patent litigation between the two companies.
Under the terms of the settlement agreement, GE will make an upfront payment to SonoSite of $21 million and pay an ongoing royalty on US sales and production of hand-carried ultrasound systems weighing less than 10 pounds in exchange for a perpetual nontransferable worldwide license to SonoSite's US patent family. SonoSite will receive these royalties until the patent expires in 2016.

Oct 21 · 3:04:00 PM · Source: Trading Markets
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by Michael Oliveto

General Dynamics (GD)

General Dynamics, has been awarded a contract for Hull, Mechanical, Electrical and Electronic (HME&E) Systems Alterations Installation Team (AIT) support by the U.S. Navy's Naval Surface Warfare Center.
The multiple-award, five-year, indefinite delivery/indefinite quantity contract has a total potential value of $475 million among all six awardees.

Oct 21 · 2:57:00 PM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

Boeing reported a Q3 loss of $2.23 per share on net losses of $1.6 billion versus a $0.96 profit on net profits of $695 million in the year ago period.
Sales for the quarter were $16.7 billion which were a 9% increase from the 2008 Q3 sales of $15.3 billion. The Q3 results include a previously announced to R&D of costs that were incurred throughout July for the first three 787 flight-test aircraft of $2.46 per share, spending on those aircraft for August and September of $0.14 per share and the 747 charge of $0.99 per share. These costs were offset by the company's solid performance in other commercial aircraft programs and in its defense business.

Oct 21 · 12:16:00 PM · Source: Trading Markets
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by Michael Oliveto

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