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Stock Market & Financial Investment News

News Breaks
July 28, 2014
13:34 EDTBA, LUVFAA seeks $12M civil penalty against Southwest Airlines
The U.S. Department of Transportation’s Federal Aviation Administration is proposing a $12M civil penalty against Southwest Airlines (LUV) for failing to comply with Federal Aviation Regulations in three separate enforcement cases related to repairs on Boeing (BA) 737 jetliners operated by the Dallas-based airline. The FAA alleges that beginning in 2006, Southwest conducted so-called “extreme makeover” alterations to eliminate potential cracking of the aluminum skin on 44 jetliners. The FAA conducted an investigation that included both the airline and its contractor, Aviation Technical Service of Everett, Wash. Investigators determined that ATS failed to follow proper procedures for replacing the fuselage skins on these aircraft. FAA investigators also determined that ATS failed to follow required procedures for placing the airplanes on jacks and stabilizing them. All of the work was done under the supervision of Southwest Airlines, which was responsible for ensuring that procedures were properly followed. Southwest returned the jetliners to service and operated them when they were not in compliance with Federal Aviation Regulations, the FAA alleges. Southwest Airlines has 30 days from the receipt of the FAA’s Civil Penalty letter to respond to the allegations.
News For LUV;BA From The Last 14 Days
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June 30, 2015
10:01 EDTBABoeing, Embraer to collaborate on ecoDemonstrator technology tests
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June 28, 2015
15:16 EDTBAIncoming Boeing CEO to address 'looming' China challenge, WSJ says
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13:23 EDTBABoeing shares 'will soar' under new CEO, Barron's says
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June 26, 2015
16:32 EDTBAStocks end week lower with Greece still searching for deal
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07:26 EDTBASRA International exploring sale or IPO, Reuters reports
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June 25, 2015
11:31 EDTLUVAvis Budget and Southwest sign multi-year partnership marketing agreement
Avis Budget (CAR) announced that it has entered into an expanded, new multi-year partnership marketing agreement with Southwest Airlines (LUV) which will enable the company to promote Avis Car Rental, Budget Car Rental and Payless Car Rental offers, products and services to Southwest customers. As part of the new agreement, Avis, Budget and Payless will have advertising placement on the Southwest Airlines website as well as merchandising placement throughout the airline reservation process. The car rental brands will also be featured on airline confirmation pages and pre-trip emails to customers.
07:00 EDTLUVDelta granted temporary space at Dallas airport by Southwest, Reuters reports
While Southwest Airlines (LUV) and Delta Air Lines (DAL) await a resolution of their dispute in court, Southwest is allowing Delta to continue operating five daily flights between Dallas Love Field Airport and Atlanta, reported Reuters, citing a Delta spokeswoman. A gate-sharing pact between the two is set to expire on July 6, the report noted. Reference Link
05:53 EDTBABoeing CEO Muilenburg prioritizes cost cutting challenges, Financial Times says
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June 24, 2015
16:57 EDTBABoeing to slow 747-8 production to one per month in March, Reuters says
Boeing will slow its production of the 747-8 jumbo jet to 1 per month beginning in March, a decrease of 23%, reports Reuters. The decision to slow production was not related to the company's CEO transition, Reuters added, citing the company. Reference Link
16:21 EDTBAOn The Fly: Top stock stories for Wednesday
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12:30 EDTBAOn The Fly: Top stock stories at midday
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07:32 EDTBANew Boeing CEO Muilenburg to inherit tough decisions, Bloomberg says
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June 23, 2015
19:03 EDTBAOn The Fly: After Hours Movers
UP AFTER PROVIDING GUIDANCE: MeetMe (MEET), up 18.8%. ALSO HIGHER: Nektar Therapeutics (NKTR), up 4.3% after being added to S&P 600... Quidel (QDEL), up 5% after receiving FDA clearance for new Solana molecular system and assay... Vanda Pharmaceuticals (VNDA), up 4.6% after announcing positive results from REPRIEVE study... Netflix (NFLX), up 3.4% after announcing seven-for-one stock split. LOWER: Alcobra (ADHD), down 2.5% after announcing that it will host a conference call and simultaneous webcast presentation to present results from the Phase II clinical trial of MDX... Sysco (SYY), down 2.6% after bid for U.S. foods blocked was blocked by a federal judge... Boeing (BA), down marginally after announcing CEO transition.
17:40 EDTBABoeing incoming CEO Muilenburg says must deliver on 777 bridge program
Regarding the appointment of Dennis Muilenburg as Boeing CEO, outgoing CEO James McNerney says, "in many ways, there's not going to be a change." Muilenburg noted that the current defense market is more "challenging," and that the company needs to deliver on its 777 bridge program. Muilenburg added that the company's backlog remains "solid." Both executives are speaking on CNBC.
16:32 EDTBABoeing names Dennis Muilenburg CEO
The Boeing board has elected Dennis Muilenburg as the company's CEO, succeeding W. James McNerney, Jr., who held the position for the past 10 years. Muilenburg, who has served as Boeing president and COO since 2013, becomes president and CEO on July 1. McNerney, who joined Boeing's board in 2001, continues as its chairman. To ensure a smooth transition of his CEO responsibilities to Muilenburg, he will continue working as a company employee until retiring at the end of February 2016.
13:15 EDTBABoeing sued over claims of toxic airplane cabin air, Chicago Tribune says
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07:12 EDTLUVSouthwest coverage assumed with an Underweight at Morgan Stanley
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June 22, 2015
07:19 EDTLUVAirlines focusing on upgraded in-flight web services, WSJ reports
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06:18 EDTBASuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
June 21, 2015
13:03 EDTLUVU.S. airline stocks may rise 15%-50% in one year, Barron's says
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