Here's a look ahead at what will be making headlines on Wednesday, August 23Read More »
Pratt & Whitney’s $10 billion bet on a new jet engine is faltering after a troubled rollout, and buyers are rushing to a General Electric Co. model instead. The GE turbine has won 10 times as many orders this year to power a narrow-body Airbus SE plane on which the two suppliers compete head to head. Pratt has signed just one buyer in that span to supply its geared turbofan engine for the aircraft, according to data provided to Bloomberg by Flight Ascend Consultancy. The figures paint a stark picture for Pratt and parent United Technologies Corp., which billed the so-called GTF as a technological breakthrough that was supposed to help reverse GE’s recent market dominance. Instead, weak demand
The stock market seemed to be under a great deal of pressure on Aug. 10. Simultaneously, a number of buy signals have occurred, including the VIX “spike peak” buy signal and the “VXST crossover” buy signal. The upward shift had left support at 2437 — the lows of last week.
Shares of Alibaba ( BABA) traded up 2.1% to $172.84 midday Tuesday after the Chinese e-commerce giant's stock was upgraded to "Overweight" from "Neutral" at Atlantic Equities. The firm hiked its price target on shares of Alibaba to $215 from $130, predicated on its ability to capture market share. Alibaba's first quarter earnings beat demonstrated the Internet giant "can leverage its scale, data and resource" to grow its market share as it pertains to e-commerce, Atlantic analyst James Cordwell wrote in a note obtained by StreetInsider. The company will also be able to drive continued ad revenue growth as it expands its e-commerce footprint, he added. Further, the stock's valuation is "reasonable"