Market News

Boeing (BA)

Boeing's long-delayed new Dreamliner 787 will fly twice by year's end, The Seattle Times reports.
The newspaper reported Friday a source, described only as a person close to the program, said the first flight is targeted for Dec. 18. and a second plane is to be flown 10 days later. The Dreamliner's delivery dates have been pushed back for more than two years, costing money and eroding confidence in the company.

Dec 7 · 4:13:00 PM · Source: iStockAnalyst
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by Michael Oliveto

GE (GE)

The $30 billion deal that switches control of NBC Universal from General Electric to Comcast brings value to allow everyone involved to focus more sharply on their core businesses, leaders of the two companies said Thursday. Comcast, the largest cable TV operator in the US, will end up controlling 51 percent of the newly-formed company while GE will own 49 percent. Jeff Zucker, current president and CEO of NBCU, will be CEO of the new joint venture.

Dec 3 · 12:22:00 PM · Source: CNBC.com
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by Rich Pike

Deere & Company (DE)

Deere & Co. said Wednesday that it had a fiscal fourth-quarter net loss of $222.8 million, or 53 cents a share, compared with profit of $345 million, or 81 cents, a year earlier. Sales fell 28 percent to $5.33 billion in the quarter ended Oct. 31. The net loss included a $321.8 million charge related to a decline in the value of the landscape supply business and to give the voluntary separation packages. Excluding those items, profit was 23 cents a share.
Company reported full-year earnings of $873 million and said its financial condition remains strong.

Nov 25 · 12:28:00 PM · Source: Company News Release
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by Larry Etter

US Airways (LCC)

US Airways said Tuesday it has completed a series of transactions with key business partners designed to improve its near-term and future liquidity. The Company will significantly reduce capital expenditures over the next three years, eliminate the need to access aircraft finance markets in 2010 and extend certain debt maturities. These transactions improve projected year-end 2009 liquidity by approximately $150 million and generate, in aggregate, approximately $450 million of projected liquidity improvements by the end of 2010.
The plans include deferral of 54 aircraft deliveries until at least 2013.

Nov 24 · 12:22:00 PM · Source: Company News Release
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by Larry Etter

Caterpillar (CAT)

Caterpillar and the law firm of Schlichter, Bogard & Denton announced that they have reached a tentative settlement of Martin, et al. v. Caterpillar Inc., et al.
The case involves a dispute over the administration of four 401(k) plans for Caterpillar employees and retirees. Under the tentative settlement, which must be approved by an independent fiduciary and the judge, Caterpillar will pay $16.5 million.

Nov 14 · 4:33:00 PM · Source: Reuters
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by Michael Oliveto

Burlington Northern Santa Fe (BNI)

The Shareholders Foundation Inc. announced that a lawsuit has been filed in Texas State Court on behalf of investors in Burlington Northern Santa Fe Corporation over alleged breaches of fiduciary duty in connection with an alleged unfair takeover by Berkshire Hathaway Inc.
The complaint alleges, among other things, that the defendants engaged in secret negotiations and the board of Burlington Northern agreed to coercive deal lock-up provisions by agreeing to a matching right, a no-solicitation provision and a termination fee of $264 million.

Nov 14 · 4:11:00 PM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

The law firm of Izard Nobel LLP announced that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased the common stock of The Boeing Company between May 4, 2009 and June 22, 2009 (Class Period).
The Complaint charges that Boeing and certain of its officers and Directors violated the federal securities laws. Specifically, defendants made misleading statements in effort to: (i) forestall further cancellations of orders for the Dreamliner 787, Boeing's principal commercial airplane, particularly as the orders for its competition, Airbus A380, were gaining ground; (ii) conceal that the 787 had a structural problem in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010; and (iii) enable Boeing to make a positive presentation concerning the test results for the 787 and the schedule for the first flight and delivery of the 787 at the Paris Airshow, scheduled for June 15-18, 2009, at which Boeing hoped to receive additional orders for the 787.

Nov 14 · 3:52:00 PM · Source: Reuters
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by Michael Oliveto

Boeing (BA)

Boeing has been awarded a $72 million U.S. Air Force contract for more than 2,900 Joint Direct Attack Munition (JDAM) tail kits.
Boeing will deliver the kits in 2011 and 2012. The Lot 14 production order is the second one-year option of a six-year contract Boeing received in January 2008.

Nov 14 · 3:50:00 PM · Source: Chicago Press Release
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by Michael Oliveto

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