This Day On The Street
Continue to site
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

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

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 - Get Report) 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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
WLT $0.00 0.00%
OSH $0.00 0.00%
ELN $0.00 0.00%
MW $16.94 -1.11%
UTX $100.67 -1.43%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs