Stocks To Watch: Pembina Pipeline Corporation (NYSE:PBA); The Boeing Company (NYSE:BA); Corporate Resource Services Inc (NASDAQ:CRRS)
Dallas, Texas, 09/29/2014 (ustrademedia) – Pembina Pipeline Corporation (NYSE:PBA) provided an update on various projects it is currently pursuing on September 25, 2014. The firm disclosed that it had started to extract natural gas liquids from recently commissioned Resthaven gas processing facility. The processing unit production capacity is expected to be raised incrementally over the next few weeks. On reaching full production, the firm hopes to deliver natural gas liquid into its Peace Pipeline. The oil firm also disclosed that it has progressed well in its construction of its Musreau II gas plant. It has set December 2014 as tentative go live date for the plant, as against its previous estimates of March 2015. On commissioning of the Musreau II gas plant, Pembina Pipeline Corporation (NYSE: PBA) hopes to attain production capacity of 1.0 bcf per day.
The Boeing Company (NYSE:BA) suffered a huge setback last week, when it was announced on 26th September that Air Berlin has decided to cancel the standing orders for 18 B737 and 15 B787 aircraft. These aircrafts were ordered by the European airliner previously and were yet to be delivered by The Boeing Company (NYSE:BA). The cancellation was agreed to by both firms and did not entail any penalty being paid by either firm to each other. The cancellation of the standing order for nearly 33 aircraft is expected to wipe off nearly $5 billion from the order books of The Boeing Company (NYSE:BA). Air Berlin hopes to cut down capital expenditure through this exercise.
On 25th September, Corporate Resource Services Inc (NASDAQ:CRRS) announced results from its second quarter operations which ended on July 4, 2014. The firm announced generating revenue of $246.1 million, which translates into a 24 percent increase over its 2Q13 numbers. The steep jump in revenue was driven by the firm completing an acquisition in December 2013. Organic growth came in at $14.5 million for the reporting quarter. This was 31 percent more than 3Q13.