Freeport-McMoRan Up 2% – to Sell Calif. Oil & Gas Assets to Sentinel Peak Resources In $742 Mln Deal

Freeport-McMoRan Up 2% – to Sell Calif. Oil & Gas Assets to Sentinel Peak Resources In $742 Mln Deal

Shares of Freeport-McMoRan (FCX) were up pre-market Friday after the natural resource giant said it sealed a deal to sell its onshore oil and gas properties in California to Sentinel Peak Resources California for $742 million, which includes a contingent consideration. Under the terms of the agreement, Freeport will receive a $592 million cash consideration at closing and $50 million in additional consideration per year for 2018, 2019, and 2020 […]

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Boeing Opens New $300 Mln Commercial Airplane Factory in St. Louis

Boeing Opens New $300 Mln Commercial Airplane Factory in St. Louis

Boeing (BA) opened its first commercial airplane factory in St. Louis on Thursday, the company said. The new $300 million “composite center” is an effort by the aircraft and parts manufacturer to expand its St. Louis operations. As a result, the company said it expects to bring in about 700 new jobs to St. Louis in production, engineering and other areas by the early 2020s. The facility is 424,000 square […]

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Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines Earnings Slip as August Technology Outage Cut $150 Million off Pre-Tax Income

Delta Air Lines (DAL), the biggest carrier in the US by market value, said a technology outage and recovery period for four days in August dented pre-tax income by $150 million. Third quarter adjusted earnings per share was $1.70 down from last year’s $1.74 but beating analysts’ expectations for $1.65. Revenue fell 5.6% to $10.48 billion, just shy of the Wall Street projection for $10.5 billion. Delta’s system-wide outage led […]

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Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman’s Park Air Systems Wins Contract to Provide Air Traffic Control Systems

Northrop Grumman (NOC), a global security company, said Thursday that its UK- based subsidiary, Park Air Systems, has been awarded a contract to supply air traffic control communication systems equipment in a nationwide upgrade across South Africa. The contract will utilize the Park Air T6 Radio, with more than 550 VHF units deployed to 50 sites. Other system elements will include Park Air’s remote control and monitoring system, multi-access remote […]

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Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo CEO Says Board Able to Hold Leadership Responsible For Deposit Scandal: Outlines Actions

Wells Fargo & Company (WFC) Chairman and CEO John Stumpf said the bank is taking action to address wrongful sales practices and the board has the tools to hold him and other senior leadership responsible. Testifying before the U.S. Senate Banking Committee Stumpf said that the bank never directed team members to provide products and services to clients that they did not need or want. “I accept full responsibility for […]

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