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Airbus added more multi-billion dollar orders to its Paris air show haul on Wednesday, but analysts said the bonanza did not herald a new dawn for the troubled European aircraft maker.
Stocks closed mostly higher, helped by lower bond yields and General Electric, which boosted the Dow. "This market bends a little bit but it doesn't break," Al Goldman, chief market strategist at A.G. Edwards., told CNBC.com. "The buyers are a little bit tired but the sellers are not very aggressive."
While day one of the Paris Air Show might have belonged to Airbus, day two saw Boeing mount a comeback, announcing an $8.8 billion deal with ILFC for 63 planes including 50 new orders for the 787, or "Dreamliner."
Boeing has won a deal to supply more than 60 planes worth $8.8 billion to International Lease Finance, which said there was strong demand by airlines for Boeing's 787 Dreamliner aircraft.
The head of Boeing's commercial airplane unit said Tuesday that despite reports of possible delays to the company's new 787 Dreamliner aircraft, the new jet will be delivered as scheduled.
Stocks closed slightly lower as investors focused on rising oil prices and fluctuating interest rates. "Prices for crude oil are not really moving up as much as they are being pulled up by gasoline," said Stephen Schork, editor of The Schork Report. "Specifically, there's the persistent fear in the market that there is not going to enough gasoline to get us through the season."
Airbus unveiled over $40 billion of orders or pledges on Monday, with a third of the business going to its A350 XWB program, giving it a much-needed lift in its battle against Boeing.
Day one of the Paris air show at Le Bourget had to belong to Airbus. After such a disappointing few years the European plane maker needed to make a big splash on home turf to prove that its recovery is firmly on track.
Indonesia's Lion Air is ordering 40 of Boeing's 737-900ER airplanes, making public a deal that was alread in the aircraft maker's order book, Boeing said on Monday. G.E. commercial aviation services, the airplane leasing unit of General Electric has placed a firm order for six 777 freighters worth around $1.42 billion, the companies said on Monday.The first 777 freighter will be delivered in the fourth quarter of 2008, Boeing said at the Paris air show.The engines for the planes, to be built by GE's aviation unit, are worth $240 million.
The head of Boeing's commercial aircraft unit Sunday backed a call by rival Airbus to work closely on producing more environmentally friendly planes, but said real progress was the responsibility of jet engine makers, rather than plane builders.
With aerospace companies likely to get a bump from the Paris Air Show and some key earnings reports on deck, there's plenty of action in the market for investors. Here are Cramer's picks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Commercial airline manufacturers have a backlog of orders that in the case of some companies runs more than five years into the future, but that strength might not equate to rising share prices.
Boeing and Airbus are among the many companies competing for bragging rights at the Paris International Air Show in the coming week.
The direction of bond yields will be the key factor for European stock markets next week, according to Bruno Verstraete, CEO of Nautilus Invest.
Cramer usually doesn’t recommend calls on Street Signs, but he thinks he's got a play that could earn you 25% in two days.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
A transatlantic team led by L-3 Communications has won a $2 billion contract to build a new cargo aircraft fleet, the U.S. Defense Department said on Wednesday.
Boeing, the world's top-selling plane maker, forecast that 28,600 new aircraft worth about $2.8 trillion will be bought over the next 20 years on the back of rising demand for passenger travel and air cargo.
As it builds the first of its 787 jetliners, Boeing is grappling with production snags ranging from fuselage sections that didn't fit together perfectly on the first try to an industrywide shortage of the fasteners that hold the plane together.
European planemaker Airbus will unveil further details of its Power8 restructuring programme to its unions on Tuesday, hoping to dampen nationalist rivalries blamed for superjumbo production delays.
Airbus is confident of securing a new customer for its A350 mid-sized airliner in coming weeks, possibly before the June 18-22 Paris air show.