On Wednesday, Shares of General Electric Company (NYSE:GE), gained 1.10% to $27.63.
Scientists at GE Global Research want to assist enable future supersonic air travel by addressing existing challenges around engine noise. Global Research, which has a world-class team of research experts in acoustic, aerodynamic, fluidic, and combustion technologies, will explore new methods for reducing jet engine noise during takeoffs and landings of supersonic aircraft as part of a research project with NASA.
While achieving an acceptable sonic boom level is viewed as the key barrier to future supersonic overland flight, noise around airports during takeoff and landing of high speed aircraft would also be a challenge. Reducing noise is one of the research priorities of NASA’s vision to develop commercially viable supersonic transport.
With the retirement of the Concorde in 2003, supersonic air travel has ceased to exist in the commercial airline world. Supersonic speeds exceed the speed of sound at cruising altitudes, which is about 660 miles per hour (mph). Aircraft like the Concorde were capable of flying at twice the speed of sound. Recently, a typical subsonic commercial flight at cruising altitudes flies in the 500-600 mph range.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
Shares of Wal-Mart Stores Inc. (NYSE:WMT), inclined 0.63% to $72.93, during its last trading session, hitting its lowest level.
The reason behind the hitting of its lowest level is disappointing First Quarter Results.
Wal-Mart’s fiscal first quarter 2016 earnings declined 6.4% from the year-ago quarter due to a decline in sales and lower operating income. Currency also negatively influenced earnings by 3 cents.
Revenue of the retailer also declined 0.1% to $114.8 billion (counting membership and other income). Currency depleted sales by about $3.28 billion. The year-over-year decline in sales was due to soft sales at Sam’s Club and the International business, which more than offset improved comps at Wal-Mart U.S. and strong e-commerce growth. On a constant currency basis, revenues raised 2.7% to $118.1 billion. E-commerce sales, however, raised about 17% globally.
Currency also negatively influenced operating income by $133 million. Besides currency, higher investment in e-commerce initiatives and in associates through higher wages and training also dampened operating income. On a constant currency basis, operating income declined 6.1% to $5.81 billion in the first quarter.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
Finally, Southwestern Energy Co. (NYSE:SWN), ended its last trade with -0.90% loss, and closed at $24.34, despite Energy stocks were sharply higher Wednesday, with the NYSE Energy Sector Index rising 1.4% while shares of energy companies in the S&P 500 were up 1.2% as a group. Crude oil for July delivery was up 41 cents at $60.55 per barrel while July natural gas futures were 2 cents higher.
Southwestern Energy Company, an independent energy company, engages in the exploration, development, and production of natural gas and oil in the United States. The company operates in two segments, Exploration, Development and Production; and Midstream Services.
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