| Associated Press | Illinois Tool Works Inc. has lowered its first-quarter and full-year earnings forecast due to costs related to the health care legislation recently passed by Congress. The industrial equipment maker said Tuesday that it will record a tax The company’s shares rose during after-hours trading Tuesday, and they rose 15 cents during midday trading Wednesday to $47.58. |
See also • Caterpillar says health care bill would cost it $100M • AT&T takes $1B charge • Deere, Cat take $100M-plus charges |
Filed under: Manufacturing
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
ITW revises 2010 forecast, citing health care law
AAR Corp. gets Army shelter order
Associated Press | AAR Corp. said Monday it has received an order from the U.S. Army worth $24 million to provide portable shelters. The company said it has already delivered more than 1,500 shelters as part of a 10-year contract. Its shares added 10 cents to $25.10 in morning trading.
Boeing 787 Dreamliner wing test looks ‘positive’
The first production Boeing 787 takes off on it’s inaugural flight from Paine Field in Everett, Wash. (AP Photo/John Froschauer, file)
Dow Jones Newswires | Boeing Co. said the results of a key airworthiness test for its long
delayed 787 are “positive,” but it will be weeks before the aircraft
maker can say whether it’s a success.
The aircraft maker said Sunday the test involved flexing the jet’s
wings while applying loads to the frame to replicate 150 percent of the
most extreme forces the airplane could experience in flight. The wings were pushed up about 25 feet during the ground test performed at Boeing’s Everett, Wash., factory.
Caterpillar, Deere to take charges for health bill
Dow Jones Newswires | Caterpillar Inc. said it will take a $100 million charge to earnings this quarter to reflect taxes stemming from the newly enacted U.S. health-care legislation.
Deere & Co., the biggest U.S. maker of farm equipment, said
Thursday that changes to the health care law signed into law this week
will raise related costs this year by $150 million and became the
second major company in as many days to say it would take a charge for
fiscal 2010.
Navistar says it will retrofit 1,222 MRAP vehicles
From Transport Topics Online | Warrenville-based Navistar Corp. said its military division will retrofit and upgrade 1,222 International MaxxPro Dash blast-protected vehicles as part of a $178 million contract. The vehicles are for the U.S. Marine Corps, and the retrofits are scheduled to begin by the end of April.
Get the full story: ttnews.com.
Tanker: EADS, Russians may compete with Boeing
By Julie Johnsson
| Boeing Co. may face new European and Russian competition for a $35-billion contract to provide the U.S. Air Force with tankers.
It had appeared that Chicago-based Boeing would be the only bidder for the contract when California-based Northrop Grumman Corp. withdrew March 8, concluding it stood little chance of winning with a tanker based on the Airbus A330 jetliner.
But the France-based parent of Boeing-rival Airbus SAS, European
Aeronautic Defense and Space Co., said Friday it was considering bidding
on its own after receiving assurances the Defense Department “would
welcome” a tanker bid from the company’s North America subsidiary.
Quinn: Caterpillar should build plant in Illinois
From Crain’s Chicago Business | Governor Pat Quinn told Caterpillar Inc.’s incoming CEO Doug Oberhelman on Thursday that he wants Illinois to be in the running for a new plant Caterpillar may build.
Get the full story: chicagobusiness.com.
Boeing to speed up production of 777s, 747s
Associated Press | Boeing will speed up production plans for its
777 and 747 models in anticipation of greater demand from commercial
airlines in a couple of years.
The aircraft maker, based in Chicago, said Friday it will increase
production of its fuel-efficient 777 wide-body in mid-2011 to seven
airplanes per month from five. The ramp-up was originally planned early
2012.
Continental will get 787s from Boeing in 2011
Dow Jones Newswires | Continental Airlines Inc. said Thursday that it expected to receive the first six 787-8 aircraft from Boeing Co. in the second half of next year.
The disclosure in a regulatory filing could see Continental become the U.S. launch customer for the delayed aircraft. Delta Air Lines Inc., which inherited a 787 order through its takeover of Northwest Airlines, remains in talks with Boeing about its deal.
Caterpillar adds 500 jobs at S.C. generator plant
From the Greenville News | Caterpillar Inc. said it would hire about 500 people starting this year to man its expanded Newberry operations that make diesel generators in Greenville County, S.C.
Jim Dugan, Caterpillar spokesman, said the expansion would be “a significant investment” that would increase the range of generator made at the plant.
Get the full story: greenvilleonline.com
Harley Davidson shares gain on takeover chatter
(Greg Wood/AFP/Getty Images)
By Ameet Sachdev |
Harley-Davidson Inc.’s stock rose nearly 7 percent Tuesday amid
speculation that the company could be the target of a leveraged buyout.
Harley closed at $28.35 on the New York Stock Exchange, up $1.85. More
than 18 million shares changed hands, more than six times normal. But
with a $6.6 billion market capitalization and coming off its first
quarterly loss in 16 years, Harley seems an unlikely takeover mark,
observers say.
Air Berlin to cut $1.7B in Boeing aircraft orders
Associated Press | German airline Air Berlin Plc said Tuesday it will cancel $1.7 billion
worth in orders for Boeing 787 aircraft to adjust to lower market
demand.
On top of its order cut, to 15 planes from 25, it has also reduced its
option for additional 787 aircraft to five aircraft from 10 and delayed
delivery of nine Boeing 737 planes to 2015.
ITW ups its outlook for first quarter
By Ameet Sachdev |
Illinois Tool Works Inc. touched up its outlook for the first quarter
because of increased production by global automotive manufacturers.
Glenview-based ITW said first-quarter earnings from continuing
operations are estimated to be 52 cents a share to 60 cents a share. The
quarter will end March 31. Its prior outlook called from profits
between 48 cents to 60 cents a share.
Caterpillar may build new U.S. factory
Associated Press | Caterpillar Inc., the world’s largest maker of mining and construction equipment, said Thursday it is considering building a new factory in the U.S to produce hydraulic excavators, a common piece of construction equipment.
The company is studying building a new domestic plant that would produce several excavator models currently made at Caterpillar’s factory in Akashi, Japan.
Navistar to offer new line of lighter trucks
Dow Jones Newswires | Navistar International Corp. plans to
offer a new line of commercial trucks aimed at penetrating the
lighter-weight end of the medium-duty truck market.
Navistar said the new line is part of broader strategy to emphasize
smaller, lighter vehicles across all its truck and bus lines in North
America. Chairman and Chief Executive Dan Ustian said truck users are
increasingly looking for smaller trucks with more fuel-efficient
engines.
