GE Healthcare (GE) Announces Collaboration with Ford Motor Co. (F) to Produce Ventilators to Combat COVID-19 Pandemic

Ford (F) Works With 3M (MMM), GE (GE), UAW to Speed Production of Respirators for Healthcare Workers, Ventilators for Coronavirus Patients

March 24, 2020 7:31 AM EDT

Ford Motor Company (NYSE: F), joining forces with firms including 3M and GE Healthcare, is lending its manufacturing and engineering expertise to quickly expand production of urgently needed medical equipment and supplies for healthcare workers, first responders and patients fighting coronavirus.

In addition, Ford plans to assemble more than 100,000 face shields per week and leverage its in-house 3D printing capability to produce disposable respirators for healthcare workers.

This is such a critical time for America and the world. It is a time for action and cooperation. By coming together across multiple... More

Coronavirus crisis rocks airlines and planemakers

March 23, 2020 9:40 PM EDT

By Graham Fahy and Terje Solsvik

DUBLIN/OSLO (Reuters) - The grounding of virtually all flights by Europe's largest budget airline and European air traffic data on Tuesday highlighted the enormity of the shock to aviation industries from the coronavirus now emptying skies around the globe.

Ryanair told customers it had virtually written off the next two months, while European air traffic management body Eurocontrol said volumes on Monday were down more than 75% from the same day last year.

"We do not expect to operate flights during the months of April and May at this... More

GE's aviation unit to cut 10% of U.S. workforce: CEO

March 23, 2020 9:32 AM EDT

(Reuters) - General Electric Co's (NYSE: GE) aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.

GE's aviation unit, which makes engines for Boeing Co (NYSE: BA) and Airbus SE (NYSE:... More

GE (GE) Announces Update on the Challenge of COVID-19, GE Aviation to Reduce Approximately 10% of its Total U.S. Workforce

March 23, 2020 9:17 AM EDT

GE (NYSE: GE) Chairman and CEO H. Lawrence Culp, Jr., today issued the following message to GE employees:

Team,

As COVID-19 continues to spread, the leadership team and I remain focused on three areas during these unprecedented times: protecting the safety of our employees, continuing to serve our customers in their critical time of need and preserving the strength of our businesses. Today, I am writing to you to give you an update on the latest steps we are taking to aggressively mitigate the impact of the pandemic, starting... More

Coronavirus grounds more flights, takes toll on jobs

March 22, 2020 7:32 PM EDT

By Jamie Freed and Anshuman Daga

SYDNEY/SINGAPORE (Reuters) - Widening travel curbs to contain the spread of the coronavirus prompted more flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.

The toll on jobs rose, too, with engine maker GE Aviation (NYSE: GE) saying it would cut 10% of its U.S. workforce, while around 10,000 staff at Singapore Airlines (NASDAQ: SIAL) will be affected by cost-cutting measures, including unpaid leave.

... More

Senate GOP virus bill aids U.S. transport sector; offers airlines loans, not cash

March 22, 2020 4:47 PM EDT

By David Shepardson and Tracy Rucinski

WASHINGTON/CHICAGO (Reuters) - A Senate Republican coronavirus stimulus package would provide financial aid to U.S. airports, transit systems and passenger railroad Amtrak, but $50 billion for struggling U.S. airlines would be a loan, not a cash payout, the proposal showed.

The Senate is expected to vote on Monday whether to advance the measure after Democrats block action on Sunday.

A copy of the proposal seen by Reuters showed it would set aside grants of $10 billion for airports, $20 billion for transit systems and about $1 billion for Amtrak.

Amtrak... More

General Electric (GE) Working with Tesla (TSLA), Others About Making More Ventilators to Fight COVID-19 - Sources

March 20, 2020 3:30 PM EDT

"Ventilators, ventilators, ventilators." That is what New York Governor Andrew Cuomo said he was in most desperate need of to keep people alive that are battling respiratory illness COVID-19. The ventilator shortage across the country has raised alarm bells at the highest levels. To help address the massive and urgent need, U.S. automakers Tesla (NASDAQ: TSLA), GM (NYSE:... More

3M doubles production of respirator masks amid coronavirus outbreak

March 20, 2020 12:44 PM EDT

(Reuters) - U.S. industrial giant 3M Co (OTC: MMMM) said on Friday it has doubled the production of N95 respirator masks over the last two months as a result of a surge in demand due to the coronavirus outbreak.

The company also decided to invest more to expand the global capacity by 30% in next 12 months. With 400 million... More

Pre-Open Stock Movers 03/20: (BLPH) (RAND) (CRWD) Higher; (LUB) (OLLI) Lower (more...)

March 20, 2020 9:31 AM EDT

Pre-Open Open Stock Movers

Bellerophon Therapeutics, Inc. (Nasdaq: BLPH) 575% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted emergency expanded access allowing its proprietary inhaled nitric oxide (iNO) delivery system, INOpulse®, to immediately be used for the treatment of COVID-19.

Rand Capital Corp (NASDAQ: RAND) 60% HIGHER; announced that its portfolio company, Rheonix Inc. is developing a coronavirus (COVID-19) test kit for use on its Encompass MDx® workstation. Upon Rheonixs receipt of emergency use... More

Danaher (DHR) Receives Clearance From FTC ForAcquisition Of Biopharma Business of General Electric Life Sciences (GE)

March 20, 2020 6:11 AM EDT

Danaher Corporation (NYSE: DHR) ("Danaher") announced today that the U.S. Federal Trade Commission (the "FTC") has accepted the proposed consent order in connection with Danaher's definitive agreement with General Electric Company ("GE") (NYSE: GE) to acquire the... More