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Stock Market & Financial Investment News

News Breaks
May 6, 2014
07:47 EDTBA, JECJacobs selected by Boeing for project and construction management contract
Jacobs Engineering Group (NYSE:JEC) announced that it was selected by Boeing (BA) to provide Project Management and Construction Management services to support the design and construction of a new fabrication facility in Everett, Washington. Under the terms of the contract, Jacobs is providing preliminary planning support, project management, construction management and project controls for the 1.2 million-square-foot Composite Wing Center for Boeing’s 777X, the newest member of its commercial airplane fleet. Up to 2,000 construction professionals could be employed to build the facility. Construction is expected to begin in late 2014 and to be completed by mid-2016.
News For JEC;BA From The Last 14 Days
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February 24, 2015
08:28 EDTBASenate Commerce, Science & Transportation Committee holds a hearing
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07:46 EDTJECJacobs Engineering awarded contract from Bristol-Myers
Jacobs Engineering Group (JEC) announced that it received a contract from Bristol-Myers Squibb Company (BMY) to provide architectural and engineering services for a new large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland. The facility is being designed to produce multiple therapies for the company’s robust and growing portfolio of approved and investigational biologic medicines, and to increase Bristol-Myers Squibb’s biologics manufacturing capacity. The new facility is expected to include multiple large scale bioreactors, a purification area, as well as office and laboratory space. Bristol-Myers Squibb’s Board of Directors has approved initial funding that will support the first phase of the project, with the full cost of the facility expected to be finalized in the second half of 2015. The facility is estimated to be operational in 2019.
07:25 EDTJECRW Baird to hold a conference
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06:46 EDTBAAirbus told suppliers to prepare for increase in A320 production, Reuters says
Airbus (EADSY) has told suppliers that it is considering increasing the number of A320 jets it produces to 50 per month as early as 2017, according to Reuters. The company, which is looking to make 48 A320 jets per month by the second quarter of 2016, currently manufactures 42 of the jets per month and had previously planned to produce 46 of them monthly by the second quarter of 2016, the news service noted. Boeing (BA) competes with Airbus in international commercial plane markets. Reference Link
05:23 EDTBARaytheon and Boeing partner to provide solutions to Royal Saudi Air Force
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February 23, 2015
16:27 EDTBAOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
12:21 EDTBAOn The Fly: Midday Wrap
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11:13 EDTBABoeing falls after Goldman downgrades to Sell, levels to watch
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09:59 EDTBAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
06:51 EDTBAAerospace sector downgraded to Neutral from Attractive at Goldman
Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.
06:19 EDTBABoeing downgraded to Sell from Neutral at Goldman
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February 20, 2015
08:48 EDTBABoeing price target raised to $196 from $164 at Sterne Agee
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February 19, 2015
17:28 EDTBABoeing awarded $591.25M government contract modification
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07:46 EDTBAAustralia opens bids for $8B armored vehicle defense contract, WSJ says
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February 18, 2015
09:02 EDTBAOrbital ATK begins production of Boeing 787 Dreamliner frames
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08:16 EDTBAKaman awarded 777/767 fixed trailing edge kits LTA by Boeing
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08:03 EDTBAAlaska Air purchasing six Boeing Extended Range aircraft
Alaska Airlines (ALK) is purchasing six more Boeing (BA) 737-900 Extended Range aircraft, valued at $594M. Boeing's current list price. The new planes, four scheduled for delivery in 2016 and two in 2017, bring Alaska's total of locally manufactured jets on order to 79.
07:07 EDTBA, JECBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
February 17, 2015
11:04 EDTBABoeing awarded $29.5M contract for laser weapons on Navy ships
Boeing said it has been awarded a $29.5M contract to design and develop a beam control system that could provide exceptional accuracy for laser weapons on U.S. Navy warships.
07:49 EDTJECJacobs selected as executive architect for new Wynn Resorts development
Jacobs Engineering Group has been selected as Executive Architect and Engineer for the new Wynn Resorts development in Everett, Mass. Company officials did not disclose the contract value. Under the terms of the contract, Jacobs is leading a local team of architects and engineers assembled to take on the technically complex assignment of converting a former industrial site on the Everett waterfront to a $1.6B luxury resort that is being designed to echo grand hotels of the past. Construction is expected to begin by late summer of 2015 with a grand opening targeted for first quarter 2018.
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