GE Drops 2% and 4 Dow 30 Stocks WOBBLE Tuesday
EI DuPont de Nemours & Co. (NYSE:DD): According to the company, recent comments regarding market demand for Titanium Dioxide in 2012, overstate the softness in the pigment industry and are not consistent with DuPont’s view. The demand for Titanium Dioxide is expected to be stronger than the demand for ore, due in part to changes in inventory levels. The company remains confident in its Titanium Dioxide outlook for the rest of the year and in the longer term.
Walt Disney Co. (NYSE:DIS): Comcast (NASDAQ:CMCSA) disclosed, in a regulatory filing, that A&E Television Networks have agreed to redeem NBC Universal’s entire 15.8% equity interest for $3.025B. The redemption price will be paid solely in cash, although under certain limited circumstances, as described in the redemption agreement, it will be paid in cash and a senior note to be issued by A&E. A&E Television Networks are a joint venture between Hearst, Walt Disney (NYSE:DIS), and NBC Universal (CMCSA, GE).
General Electric Co. (NYSE:GE): As a result of GE’s $100M initial investment in battery technology, they will expand their most recent, advanced manufacturing battery factory here. Their latest Durathon battery products are half the size of conventional lead acid batteries and last ten times longer. This breakthrough technology, which includes telecom and utility operators, will provide reliable and cost-effective energy storage options for a broad range of GE global customers. GE also announced today, that they will invest an additional $70M to expand their Schenectady plant and will be adding 100 new jobs, bringing the total workforce to full capacity at 450. This will effectively double production.
Hewlett-Packard Company (NYSE:HPQ): PULSE, a Discover Financial Services (NYSE:DFS) company, according to Hewlett-Packard (NYSE:HPQ), has selected an HP Converged Infrastructure which will meet their growing consumer debit card use. This will help give their clients an efficient transaction processing service.
Johnson & Johnson (NYSE:JNJ): Janssen Research & Development has committed $5.4M to advance the formation of a networked initiative aimed at uncovering genetic and biologic causes of multiple sclerosis, as well as accelerating new treatments for the disease.
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