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News For UAL;BA From The Last 14 Days
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October 1, 2015
10:01 EDTBAApple names James Bell to board of directors
Apple (AAPL) announced that James A. Bell, former CFO and corporate president of The Boeing Company (BA), has been elected to Apple's board of directors. During his 38-year career at Boeing, he also oversaw Boeing Capital Corporation and Boeing Shared Services, and was interim CEO of The Boeing Company in 2005.
06:44 EDTUALSouthwest defends Dallas Love Field gate purchase, AP reports
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06:14 EDTUALUnited Continental CEO says that 2010 merger was 'poorly managed,' WSJ reports
In his first interview as United Continental CEO, Oscar Munoz acknowledged that the 2010 merger that created the carrier was "poorly managed," The Wall Street Journal reports. He declined to discuss the probe that led to the ouster of former CEO Jeff Smisek, and noted that the morale of United employees has suffered. Reference Link
September 30, 2015
17:45 EDTBABoeing awarded $127.08M government contract
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16:13 EDTBALoss of Ex-Im Bank jeopardizes $1.1B order for Boeing, Reuters says
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13:13 EDTBABoeing agrees to provide YTO Airlines with 737-800 BCFs
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09:29 EDTUALBuckeye Partners announces FERC approval of settlement with airlines
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06:51 EDTBAUnited Launch Alliance wins $882M contract with U.S. Air Force, Reuters says
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September 29, 2015
19:55 EDTBABoeing considers converting 737s into freighters, Reuters says
Boeing is considering offering conversions of its 737-800 passenger jets into freight haulers, according to Reuters, citing a senior Boeing executive. The proposal follows competitor Airbus's plan to offer conversions of its A320 jets, Reuters added. Reference Link
18:14 EDTBABoeing, NASA extend International Space Station contract to 2020
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09:33 EDTBABoeing receives order from India for 22 Apache, 15 Chinook helicopters
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06:13 EDTBACargolux in talks to buy five more Boeing freighter jets, Reuters reports
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September 25, 2015
16:35 EDTBAStocks end week lower as biotechs sink, Volkswagen crashes
Stocks ended the week lower after concerns about drug prices were reignited, sinking biotech stocks, an emissions scandal engulfed Volkswagen (VLKAY), dragging down shares of automakers and their suppliers, and Caterpillar (CAT) announced that it may eliminate as many as 10,000 jobs in the next three years as commodity prices continue to slump. MACRO NEWS: Following the Federal Reserve's decision last week to wait before raising rates, the central bank made a concerted effort to give the market more clarity this week. Over last weekend, three Federal Reserve officials - San Francisco Fed President John Williams, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker - all argued that an interest-rate increase is still warranted this year. Then, on Thursday night, Fed Chair Janet Yellen said during a speech at UMass Amherst that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago... In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. Durable goods orders for August declined 2.0%, versus expectations for a drop of 2.3%. When transportation items were removed, the core reading was breakeven, versus expectations for a rise of 0.1%. The third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... The Asian Development Bank cut its growth forecast for the region, citing a weaker outlook for China and India and a delayed recovery in the world's advanced economies. The bank now sees the Chinese economy growing 6.8% this year and 6.7% next year, down from its previous forecasts of 7.2% and 7%, respectively. Markit's flash manufacturing PMI for China fell to 47.0 in September from 47.3 last month. Meanwhile, Japanese Prime Minister Shinzo Abe unveiled new economic targets, including a goal for a 20% increase in the target size of the Japanese economy to 600T yen, though he gave no timeframe for achieving this aspiration... In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Biotech stocks declined after privately-held Turing Pharmaceuticals made headlines by enacting a 5,000% price increase on its treatment for toxoplasmosis, reigniting a debate around drug prices that previously embroiled costly Hepatitis C drugs including AbbVie's (ABBV) Viekira Pak and Gilead's (GILD) Sovaldi and Harvoni. Presidential candidate Hillary Clinton sent the debate to center stage by criticizing the "outrageous" prices of specialty drugs and laying out a plan to tackle "price gouging" in the specialty drug market. The NASDAQ Biotechnology index fell roughly xxx% for the week amid the attention paid to Turing's drug and Clinton's response... Volkswagen (VLKAY) shares trading in New York fell sharply to begin the week and ended the week far from where they'd been last Friday before the EPA said it found manipulations that violate U.S. environmental standards while testing certain of the automaker's diesel cars. The EPA said Volkswagen may face civil penalties of $37,500 for each vehicle not in compliance with federal clean air rules, which could total as much as $18B, according to Reuters. In the wake of the scandal, Chief Executive Officer Martin Winterkorn resigned, with the company's supervisory board subsequently praising the decision and selecting Matthias Mueller, the former head of Porsche (POAHY), as Winterkorn's successor as the company's new CEO... Caterpillar (CAT) shares dropped after the heavy machinery maker announced plans for job cuts and lowered its revenue guidance for this year and next. Caterpillar said that it would lay off 4,000-5,000 of its employees between now and the end of 2016 and could lay off up to 10,000 employees by 2018. Caterpillar cut its fiscal year 2015 revenue forecast by $1B and said its sees its fiscal year 2016 revenue to be 5% below this year, adding that it expects revenue declines in all three large segments next year... Online and mobile deal provider Groupon (GRPN) said it plans to cut 1,100 jobs relating primarily to the company's international operations... Nike jumped after the athletic gear giant reported better than expected earnings and futures orders, prompting numerous price target hikes and at least one upgrade at Street research firms. Among other companies reporting earnings this week, BlackBerry (BBRY), ConAgra (CAG), Carnival (CCL), and CarMax (KMX) fell immediately following their quarterly reports... Apple (AAPL), which has previously been reported to be working on an electric car via its "Project Titan," is speeding up those efforts and setting 2019 as a target to ship its first vehicle, according to The Wall Street Journal... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in in the Asian nation, while Cisco (CSCO) announced a partnership with Chinese server maker Inspur Group... Lloyd Blankfein, Goldman Sachs (GS) Chairman and CEO, disclosed that he was diagnosed with lymphoma. "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured," Blankfein stated in an open letter that was shared by the bank... GoPro (GPRO) finished the week about xxx% lower after Barron's contended in a feature article last weekend that the company's stock could plunge another 30% to $25 as Apple, Sony (SNE) and others pressure the company's "one-hit wonder" products... On the M&A front, Atmel (ATML) agreed to be acquired by German chipmaker Dialog Semiconductor in a deal valued at roughly $4.6B and Starwood Waypoint (SWAY) announced a stock-for-stock merger agreement with Colony American Homes. INDEXES: The Dow lost about 0.43% to close at 16,314.67, the S&P 500 fell about 1.35% to close at 1,931.34, and the Nasdaq declined about 2.89% to close at 4,686.50.
06:29 EDTBAAirbus engages in wireless initiative for planes, WSJ reports
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September 24, 2015
19:26 EDTUALUnited's pilot union says adamantly opposed to fuel monitoring
In a letter to United pilots, United Master Executive Council chairman Jay Heppner states, "Let me be very clear at the onset: The UAL MEC policy manual clearly states that we 'deem any fuel monitoring program using identified pilot information as promoting unsafe practices such as competitive flying.' While we 'endorse the most conservative fuel load, whether it is the dispatcher's fuel or the captain's fuel,' we fully support the captain's authority to plan his fuel load without undue influence from any monitoring program. Such programs have been used in the past to coerce captains to not add fuel when, in their judgment, they may have felt it prudent to do so. The tracking and scoring of captain's fuel loads can also lead to other issues; not the least of which is a degradation to safety and captain's authority. Fuel tracking can also lead to pilot pushing, intimidation and harassment by management in order to force compliance with 'fuel policy.' ALPA has worked tirelessly to ensure all captains have the tools necessary to make the safest and most appropriate decisions regarding fuel loads and all other decisions pertaining to every aspect of the preflight planning process. We are not necessarily opposed to a company fuel policy, but we are adamantly opposed to 'fuel tracking,' 'fuel monitoring' and 'competitive flying.'" Reference Link
18:43 EDTBABoeing chairman sees reauthorization of U.S. Export-Import Bank, Reuters says
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16:34 EDTBABoeing opens manufacturing research center in South Carolina
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10:19 EDTBADelta increases service between New York-JFK and Tel Aviv
Delta Air Lines (DAL) will add four weekly year-round flights between its New York-JFK hub and Tel Aviv beginning May 26, 2016. The new flights will be available for sale beginning Saturday, Sept. 26, 2015. The additional flights will complement Delta's existing daily service to Tel Aviv for a total of 11 weekly flights between the two cities and third largest trans-Atlantic market. Delta will operate the added flights with a 291-seat, Boeing (BA) 777-200ER, which is Wi-Fi equipped so customers can stay connected at 30,000 feet.
07:51 EDTBAThe Wings Club holds a luncheon meeting
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07:43 EDTBAMarket overly negative on Aerojet Rocketdyne, says Oppenheimer
After Boeing (BA) rejected an unsolicited offer from Aerojet Rocketdyne (AJRD) for United Launch Alliance, a 50/50 joint venture of Boeing and Lockheed Martin (LMT), Oppenheimer thinks the market's reaction to the news ignores Aerojet's positive catalysts. The firm says that the news will not impact Aerojet's operations until 2019 and will probably not have an impact of more than about $115M. The firm keeps a $26 price target and Outperform rating on Aerojet.
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