Stocks to Watch: Boeing, JPMorgan, Apple
NEW YORK -- Boeing(BA) shares rose 2.1% on Friday to $86.43 after the aerospace giant outlined a fix for the Dreamliner's lithium-ion battery system.
Testing of the battery system should be wrapped up in two weeks, Boeing said. The company will then seek approval from the Federal Aviation Administration to get the 787s, which have been grounded since Jan. 16, back in the air.
BlackBerry(BBRY) shares closed Friday down 0.5% to $14.99 despite the company receiving a partner order for 1 million of its new BlackBerry 10 smartphones earlier in the week.
Apple(AAPL) gained 2.6% on Friday to $443.66 even after rival Samsung grabbed the spotlight last week by unveiling the Galaxy S4 phone, putting pressure on the iPhone maker.
JPMorgan Chase(JPM) shares fell Friday 1.9% to $50.02 after the Federal Reserve, in its release of the annual stress test results of big U.S. banks, told the bank it had to resubmit its capital plan because of the central bank's concerns about "weaknesses" in its plan or planning process.
Meanwhile, two former high-ranking executives at JPMorgan Chase were grilled by senators Friday at a hearing into how the bank lost $6.2 billion on bad derivatives trades.
Wall Street predicts Cumulus Media(CMLS) will post fourth-quarter profit on Monday of 6 cents a share on revenue of $287.1 million.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
>To submit a news tip, send an email to: firstname.lastname@example.org.