Ford To Invest in MI, Boeing Gets Grupo Aeromexico Order: Consumer Business Update
Ford Motor Company (NYSE:F) will shell out more than $773 million for new equipment and capacity expansions throughout six manufacturing facilities located in southeast Michigan, as it fulfills a commitment to invest $6.2 billion in its domestic plants by 2015. These new investments in Michigan should create 2,350 new hourly jobs and also permit ford to keep an additional 3,240 hourly jobs, as a part of the 12,000 hourly jobs that the automaker is adding across the United States by 2015.
Domino’s Pizza (NYSE:DPZ) saw its Outperform maintained at Oppenheimer, with its price target raised from $44 to $50. The analysts commented that, ”DPZ represents a potential bright spot in ’13—a year most restaurants must absorb challenging top and bottom-line industry headwinds. DPZ’s model possesses rare drivers that could provide an unusual acceleration in fundamentals and EPS upside.”
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The Boeing Company (NYSE:BA) has received an order from Grupo Aeromexico (GRPAF.OB), Mexico’s leading airline operator, for six 787-9 Boeing Dreamliners, which is part of an order valued at roughly $11 billion that was announced in July, with the first delivery expected in the summer. Aeromexico said that the purchase of four additional Dreamliners is yet to be confirmed. Chief Executive Andres Conesa of Aeromexico commented that ”The acquisition of these Boeing 787-9 Dreamliners, part of the 100 aircraft announced earlier this year, represents a fundamental step that strengthens the international position and leadership of Grupo Aeromexico.”
On Thursday, Smith & Wesson Holding Corporation (NASDAQ:SWHC) said that its board has okayed an additional $15 million for common stock buybacks through June 30, 2013. On December 6th, the board approved a program to repurchase as much as $20 million outstanding shares of common stock periodically until June 30, 2013. Since then, the firm has bought all of the initially authorized $20 million of common stock back.
Don’t Miss: Ford Commits Millions for Local Economic Growth.