This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The 5 Dumbest Things on Wall Street This Week: June 21

Stocks in this article: ELN FRX WLT FB OSH LOW GE UTX MW

2. Pratt's Spat

Maybe they should rename it the Paris "Hot" Air Show considering all the trash talk going on at this year's gathering.

We won't say he went ballistic, but Bob Saia, Pratt & Whitney's head of commercial engine development, certainly unloaded on rival jet-engine maker CFM this weekend when he called the fuel-saving claims made by the GE (GE) - Safran SA joint venture "garbage," according to Bloomberg. CFM Executive Vice President Chaker Chahrour boasted to reporters ahead of the Paris show that his company's engines are less expensive to maintain on Airbus SAS's A320neo airliner than the offering from United Technologies' (UTX) Pratt & Whitney unit.

"We've never been more bullish," crowed Chahrour. "This is going to be the most robust and reliable engine on a narrow-body plane and the market reaction really supports that." Chahrour also jacked his savings estimate over the life of each jet to $4 million from $3.5 million last year.

Says you buddy! Or at least that's what Pratt President Dave Hess is saying.

"You'd have to violate the laws of physics and economics for what they're saying to be true," hissed Hess.

Hey, you can't blame Hess for getting hot-headed when you consider the economics at stake. Some reports put the narrow-body plane market at 70% of an estimated $4.8 trillion in new aircraft sales over the next 20 years.

You also can't blame us for getting excited by this escalating war of words.

What can we say? This type of ridiculousness really revs our engines.

4 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs