Why Airbus (EADSY) Stock Is Moving Up Today

NEW YORK (TheStreet) -- Shares of Airbus Group (EADSY) are up 1.20% to $16.81 after it was reported that the company is set to upgrade its A330 with engines provided exclusively by Rolls-Royce Holding Plc (RYCEY), setting the stage for a bitter new phase in a battle for wide-body jet orders with Boeing's (BA) 787 Dreamliner, sources told Reuters

The move speeds up a growing interdependence between the European firms on large jets, with General Electric (GE) - the main alternative A330 engine supplier - no longer in the running for the $2 billion "A330neo" revamp, sources said.

Shares Rolls-Royce are up 2.05% to $91.54.

Must Read: Warren Buffett's 25 Favorite Growth Stocks


EADSY data by YCharts

 RYCEY Chart

RYCEY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

United Tech, Rockwell Deal Could Face Biggest Hurdle in Antitrust Scrutiny

Here's What's Boosting European Benchmarks

Rolls Royce Surges on Engine Deliveries

Airbus Agrees to Sell Software Unit to Motorola

European Benchmarks Sink Despite Solid Corporate Earnings