Boeing Co. shares are down 2.2% in Thursday morning trading after The Wall Street Journal reported that the company was holding talks to acquire Woodward Inc. , a maker of aerospace parts. The two companies have reportedly been talking for months, the report said, citing someone familiar with the companies’ discussions. Woodward shares have gained 6.6% following the story. A deal could potentially help Boeing keep costs down as it battles for share with Airbus Group , the Journal wrote, noting that the company is also trying to do a deal for Embraer . Boeing shares are up 103% over the past 12 months, while Woodward’s stock is up 19% and the S&P 500 Index has gained 17%. The Dow Jones Industrial Average, of which Boeing is a component, is up 23%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News