Word: northrops
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After making no headway at all for a week, the Dow-Jones industrial average last week tumbled more than six points before steadying (closing figure: 419.57, off 4.27). Such war-baby aircraft stocks as Boeing, Douglas, Lockheed and Northrop have dropped as much as 35% from their 1955 highs. In the back of every investor's mind lie some nagging questions.. What would happen to the U.S. economy in the unlikely event of real peace breaking out? What would another sharp cut in defense spending mean to the various segments of industry...
Working also with such missile prototypes as the Northrop "Snark" and the North American "Navaho" (which have intercontinental range, but at speeds only comparable to current bomber types), the U.S. may be catching up. The prospect is that by 1960 both the U.S. and the Soviet Union will have missiles that can carry hydrogen pay loads at 10,000 m.p.h. with a range of some 5,000 miles...
...group, the biggest rise (an average of 165%) came in the order-laden aircraft stocks. Taking into account splits, Douglas started at 83, rose 177 points (it gained 34 points in the last two weeks alone); Boeing started at 49 and rose 99 points; Northrop started at 18, gained 57 points. But it was not merely a war market...
LABOR PEACE seems assured for 1955 in California's vital aircraft industry. North American, Douglas and Northrop (Lockheed is still negotiating) have agreed on new contracts with their 80,000 workers, boosting the pay scales by as much as 8? an hour...
When Kennan, Marshall, Northrop and Stevenson unite in recommending to our country less of arrogance and more of humility in dealing with our sister nations, it was inevitable that TIME . . . would disapprove, and refer to their books as "so bad." Losing TIME's approval, they may be consoled by the reflection that Solomon, Isaiah, Paul and Jesus gave similar counsel to an unheeding world...