FlyDubai Interested in Boeing Inc.’s (NYSE:BA) and Airbus Narrow Body Aircraft, Exxon JV (NYSE:XOM) Gets Green Signal

FlyDubai, the state-possessed low-cost airline, is in meetings with US industrial giant Boeing Co. (NYSE:BA) and Airbus SAS to purchase almost 50 narrow-body aircraft, the carrier’s chairman stated.

We are speaking about further 50 aircraft, Sheikh Ahmed bin Saeed Al Maktoum, who is also the chairman of Emirates, informed reporters in Dubai on Wednesday.

If the team reaches a decision, we plan to make adeclaration at the Dubai Air Show. The airline is seeing at Boeing 737s and Airbus 320 models, he added.

FlyDubaimade a profit 152 million dirhams ($41 million) in 2012, on sales of 2.8 billion dirhams, Sheikh Ahmed added about company’s performance. The airline would utilize its own cash, export-import bank facilities and lease-back options to finance development, he added.

Another rival company The Boeing Company (NYSE:BA) trading down -0.06% to $75.46. Intraday trading recorded the stock price in a range of $75.47 to $75.83. In the previous 52 weeks the stock’s price ranged between $66.82 and $78.02. The current session’s volume of 91,576.00 shares was lower from their average daily trading volume of 8.03 million shares.

In industrial sector, The largest agricultural equipment manufacturer Deere & Co. (NYSE:DE) upgraded its complete year profit targets and reported quarterly earnings that exceeded experts forecasts following historic prices for corn and soybeans enhanced farmers’ incomes.

Net profit came in $1.65 per share in the financial first quarter concluded Jan. 31, topping the $1.40 average of 17 estimates gathered by Bloomberg. Earnings would be almost $3.3 billion for fiscal 2013, the Moline, Illinois-located firm reported in a statement on Wednesday. That topped its former estimation of $3.2 billion and the $3.26 billion average of 16 targets.

For fiscal 2013, Deere (DE) reported that equipment sales would hike almost 6 percent, superior than its former estimation of 5 percent.

Deere & Company (NYSE:DE) shares in the current session moved down -1.49% reaching at $92.56. The stock traded in a range of $91.25 – $93.90. In the last year the stock has moved within a range of $69.51 – $93.90. The current session’s volume of 990,428.00 shares is lower from their average daily trading volume of 2.56 million shares.

Russia’s major oil producer Rosneftwould shift its new licenses into its merger with North American major ExxonMobil (NYSE:XOM) to move into the country’s huge Arctic resources, a source related with the Russian firm reported.

In the beginning of Wednesday, Rosneft Chief Executive Igor Sechininformed reporters that the firm is ready to ink a new deal with few of its associates in offshore projects but did not detailed further about the deal.

Rosneft and Exxon (XOM) have previously decided to mutually move hydrocarbon deposits in Russia’s Arctic waters and in North America. Along with its merger with Exxon (XOM), Rosneft has joined hands with Norway’s Statoil (STL.OL) and Italy’s Eni (ENI.MI) to grow offshore oil and gas. Shares of Exxon Mobile (XOM) were getting support after the news and were trading above the trend line with 0.07% on Wednesday trading session.

Exxon Mobil Corporation (NYSE:XOM) shares in the current session moved up +0.06% reaching $88.51. The stocks are trading in a range of $88.30 – $88.70. In the last year the stock has moved within a range of $77.13 – $93.67. The current session’s volume of 225,465.00 shares is lower from their average daily trading volume of 12.57 million shares.

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