Spotlight Stocks: Boeing, Citigroup, Sony, Tata Motors
Monday's top stories and stocks with potential to move.
Stocks to watch for Monday, March 31, 2008:
- Boeing (BA) and Textron's (TXT) Bell Helicopter, with their alliance called Bell Boeing, have won a contract worth $10.4 billion from the Department of Defense for 167 V-22 Osprey tiltrotor aircrafts over a five-year period.
- Citigroup (C) will set up an independent credit card unit, according to Bloomberg, to be run by Steven Freiberg who formerly ran the company's North American credit card business. According to sources familiar with the plan, Citi aims to overhaul consumer banking along geographical lines.
- Sony (SNE) will replace its top television executive, Takashi Fukuda, with the former head of its audio business Hiroshi Yoshioka. The company has seen poor performance in its television unit, bringing down the strong numbers of other electronics such as digital cameras and laptop computers.
- Tata Motors (TTM) has a 4-5 year plan to invest $1.5 billion in order to expand manufacturing capacities. This after the company purchased Ford's (F) Land Rover and Jaguar units for $2.3 billion last week.
- Yahoo (YHOO) is launching a site focused on the daily lives of women called 'Shine'. The company said the site offers nine categories ranging from Fashion & Beauty to Parenting. It syndicates material from popular lifestyle publishers including Conde Nast and Hearst Corp, reported Reuters.
Asian trading closed red with the Hang Seng -1.88%, Nikkei -2.30%, Sensex -4.44%, Taiwan -0.59% and Shanghai -3.00%.
A quick check of Europe finds the CAC -0.28%, DAX -1.08%, FTSE +0.03%, ATX -1.56%, Swiss Mkt. -0.89% and Stockholm -0.63%.
Crude oil is trading lower -0.52 to 105.10 while gold is higher +5.1 to 935.7 this morning.
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