Chevron Announces New Reserves and 3 Dow Movers Seeing Action
The Boeing Company (NYSE:BA) should be world’s largest plane maker for a minimum of two more years amid increasing deliveries of the 787 Dreamliner, the jet that helped it surpass Airbus SAS (AMEX:EAD) for the first time in a decade. In a Thursday statement, the company said that it shipped 46 Dreamliners in 2012, driving total commercial jet deliveries to 601 and exceeding its forecast for deliveries of 585 to 600 planes. The company’s 787s comprised 35 to 42 of that number. Airbus held the top spot for the previous nine years, but handed over 516 jets through November and targeted 580 for the year.
Cisco Systems (NASDAQ:CSCO) shares received a boost Thursday morning from the analyst Mark Sue at RBC Capital who hiked his rating to Outperform from Sector Perform along with a new price target of $24, up from $21. Shares closed Wednesday at $20.34.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Chevron Corporation (NYSE:CVX) intends to develop Australia’s vast natural gas resources so as to export liquid natural gas to the growing Asia market. Since mid-2009, it has reported 19 discoveries and the latest discovery, which was declared in October, was at the Satyr-4 well about 75 miles north west of Barrow Island off the coast of Western Australia. On Thursday morning, the company said that it has made two more finds off the coast of Western Australia and that this time, the reserves are in the Exmouth Plateau area of the Carnarvon Basin.
Pfizer (NYSE:PFE) has reached an exclusive worldwide licensing agreement with Repligen (NASDAQ:RGEN) through which to advance the latter’s spinal muscular atrophy program that was originally in-licensed from Families of SMA. The SMA program includes RG3039, a small molecule drug candidate in clinical development for SMA, along with backup compounds and enabling technologies. Through the terms, Repligen may receive as much as $70 million from Pfizer, beginning with an upfront payment of $5 million and total potential future milestone payments of up to $65 million as well as royalties on any future sales of SMA compounds developed under the agreement. Repligen has previously received United States Orphan Drug and Fast Track designations for RG3039 for the treatment of SMA along with Orphan Medicinal Product designation in the European Union.