Despite Friday's slightly weak economic data releases the Dow Jones Industrial Average (DJINDICES:^DJI) is continuing yesterday's rally and is trading 0.45% higher, flirting with 16,000. U.S. industrial production fell 0.1% in October compared to September's mark, and prices of goods imported to the United States declined by 0.7%, suggesting sluggishness in foreign economies. With that in mind, let's take a look at some companies making headlines on this fine Friday.
Boeing (NYSE:BA), up 0.8% today, has been one of the best performers on the Dow Jones Industrial Average this year and continues to trade higher despite its machinists union rejecting an eight-year extension contract yesterday.
There was good news for Boeing, albeit on a different topic, as its P-8A Poseidon and F-15 logistics programs were recognized for their success at Aviation Week & Space Technology's Program Excellence award ceremony.
"These nominees represent the 'best in class' when it comes to exceptional leadership and program performance, particularly when we reflect upon how far we have come since the first awards in 2005," said Jean Chamberlin, vice president of program management for Boeing Defense, Space & Security, in a press release. "I am proud of the improvement these programs demonstrated in customer and supply chain integration and collaboration. It is an honor to be recognized by our industry and government partners."
According to Boeing, the U.S. Navy has called the P-8A the most successful major Department of Defense acquisition program in the last three decades. This is a great sign for Boeing investors worried about the government's defense spending cuts, which could total $1 trillion over the next nine years. Boeing's success with its product development and relationship with its customers will be a big advantage to keep revenue flowing into its defense business segment.
Outside of the Dow Jones, Ford (NYSE:F) also had a milestone announcement. The Blue Oval recently celebrated production of its 2 millionth EcoBoost engine. The EcoBoost has provided customers with an excellent, fuel-efficient engine option; consumers have responded by the droves with their wallets.
"Ford EcoBoost can deliver great performance and lower fuel bills, a recipe that is proving incredibly popular with consumers around the world," said Joe Bakaj, Ford vice president of powertrain engineering, in a press release. "EcoBoost engines are attracting new customers to the Ford brand every day, and our plants are working hard to keep up with demand."
The automaker said EcoBoost will be available on more than 90% of North American nameplates, rising to 95% by 2015. The EcoBoost engine also has very high take rates with popular vehicles: 42% with the F-150, 52% with the Fusion, and a whopping 89% with the Escape. Different variants of the EcoBoost engine have won numerous awards. As consumers continually place fuel economy as their top priority when purchasing, Ford has positioned itself to further improve sales.