Aerospace parts maker Esterline Technologies is said to be exploring a potential sale. The Wall Street Journal has reported that the company was exploring a sale, adding that the process was at an early stage and there was no guarantee of a deal.
The company, which makes cockpit components and sensors for commercial jetliners, business jets and military aircraft such as Lockheed Martin F-35 fighter jets, has a market capitalization of more than $2 billion.
In September 2017 United Technologies Corp acquired Rockwell Collins for $30 billion. In March 2018 TransDigm Group transacted a $525 million deal for Extant Components Group. In June 2018, Northrop Grumman won US antitrust approval for its $7.8 billion acquisition of rocket maker Orbital ATK.
IBM is suing Groupon for $167 million, accusing it of infringing four basic internet technology patents. Groupon is defending itself by trying to portray IBM as using outdated patents to squeeze money out of other tech companies with threats of litigation.
Two of the four patents in the case relate to Prodigy, IBM’s late-1980s precursor to the web. IBM’s patents describe commonplace internet technology like password management and online advertising.
IBM claims license fees help it recoup the billions it spends on R&D and reach productive arrangements with other innovative companies. IBM has secured more U.S. patents than any other company for the past 25 years. IBM’s lawyer claims the company is “selective” about who it sells patents to and strikes such deals in part to protect itself from trolls. “If a patent troll wants to buy a patent from us then we insist on a covenant not to sue IBM,” IBM licensing executive Thomas McBride said.
U.S. custodian bank State Street Corp said on Friday it would buy Charles River Development, a privately held investment management firm, for $2.6 billion in cash.
A 46-year-old homeless man with no arms has been arrested for stabbing another man with a pair of scissors using his feet. Jonathan Crenshaw stabbed a 22-year-old Chicago man twice with the scissors before running away, according to a police report.
Amazon.com says online shoppers purchased more than 100 million products worldwide during its Prime Day sale.
Microsoft shares reached an all-time high on July 20, 2018, after quarterly results showed growth in its legacy software business and Azure cloud computing services. The rise in share price of about four percent to $108.20 added more than $30 billion to a market capitalization that was already $802 billion on the previous day.
Helped by sales of cloud-based software, Microsoft has more than doubled in value since Satya Nadella took over as chief executive in 2014. Microsoft’s core productivity and business processes unit, which includes Office 365, rose 13.1 percent to $9.67 billion, revenue for the Azure cloud service jumped 89 percent.
US Commerce Secretary Wilbur Ross reported he has launched a new national security investigation into uranium imports that could lead to tariffs or quotas to limit them.
Building product makers, NCI Building Systems and privately-held Ply Gem Parent LLC, have reported they will merge in an all-stock deal, creating a company with an equity valuation of about $2.6 billion.
Passenger aircraft manufacturers are working to adapt jets to reduce the number of pilots needed for long-haul flights and to build new cockpits designed for one pilot in order to ease a global pilot shortage and cut airline costs.
Boeing raised its rolling 20-year industry forecast for passenger and cargo aircraft on the opening day of the 2018 Farnborough Airshow.
The company predicted 42,700 industry deliveries over the next two decades, up three percent from its estimate of 41,030 a year ago. That would be worth $6.3 trillion at list prices versus last year’s $6.1 trillion forecast.
The planemaker now sees 31,360 deliveries in the medium-haul, single-aisle category. Boeing lowered its wide-body delivery forecast by 140 aircraft to 8,070. Boeing saw an increase in demand in the cargo market forecasting 980 new freighters from a projected 920 a year ago.