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Market Update

Boeing Receives Contracts from China and India

Author: Mukesh Buch
Last Update: 11:50 AM ET September 23 2015

11:45 AM New York – Boeing received an order for 300 jets aircraft from three Chinese firms and military contract from India. Biomed Realty Trust is in talks to go private. Copart profit soared 12%. Citrix Systems is negotiating to go private led by Elliott Management buyout. Landmark Aviation agreed to be acquired by the U.K.-based BBA Aviation.

Tollbooth Index fell 29.84 or 0.3% to 10,344.40.

Earnings Review

Boeing Co (BA) gained 82 cents to $134.61 after the aircrafts maker received an order for 300 jets aircraft at list prices of about $10 billionfrom three Chinese firms.

Boeing will set up an aircraft plant jointly with Commercial Aircraft Corporation of China, Ltd.

The aircraft maker said that the Chinese plan may supply parts and assemblies to orders from Asia. Boeing estimates as much as 35% of all orders are likely to come from the region.

China’s President Xi Jinping is scheduled to visit Boeing factory in Washington.

Separately, the Indian government placed an order ahead of Prime Minister Narendra Modi scheduled to arrive in the U.S. for 37 military Apache multi-role and Chinook heavy-lift helicopters for about $3 billion with an options to buy additional 11 Apache helicopters and 7 Chinook helicopters.

Biomed Realty Trust Inc surged 12.1% or $2.32 to $21.51 after the Bloomberg said that the real estate developer is in talks to sell itself and private equity firm Blackstone Group LP may interested to acquire the company.

Copart, Inc (CPRT) online auctions and vehicle remarketing services provider reported revenues in the fourth-quarter ending in July fell 1.8% from a year ago to $282.3 million.

Net income in the quarter soared 12.5% to $57.4 million or 44 cents per diluted share compared to $51 million or 39 cents from the same quarter last year.

Citrix Systems, Inc (CTXS) increased 1.8% or $1.31 to $73.46 on media report the cloud computing services provider is in final discussions to go private hedge fund manager Elliott Management ahead of asset sales.

The company plans to buy back its additional common stock for up to $500 million.

Cision Us, Inc, Reuters reported that the U.S.-based and subsidiary of Sweden-focused public relations and marketing software provider plans to acquire the press release distributor PR Newswire Association LLC owned by the U.K.-based UBM Plc for more than $700 million.

Landmark Aviation, the Houston, Texas-based privately held aircraft maintenance and repairing services provider is in talk to be acquired by the U.K.-based rival BBA Aviation for about $2.07 billion.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc