- Jaguar Land Rover filed a complaint with the U.S. International Trade Commission (ITC) on Thursday.
- The company said there are many other luxury mid-size SUVs and compact crossovers to meet consumer demand.
- Boeing's stock price is taking off hard.
Jaguar Land Rover filed a complaint with the U.S. International Trade Commission (ITC) on Thursday, accusing Porsche, Lamborghini, Audi, and Volkswagen of unauthorized use of its Terrain Response patented technology and requested the U.S. to ban the import of this technology.
Jaguar Land Rover’s lawyer Matthew Moore said in the complaint: “JLR seeks to protect itself and its United States operations from companies that have injected infringing products into the U.S. market that incorporate, without any license from JLR, technology developed by JLR and protected by its patent,” the automaker says in its filing with the US International Trade Commission (ITC).
Jaguar Land Rover hopes that the United States will ban import models including Porsche Cayenne, Lamborghini Urus, Audi Q8, Q7, Q5, A6 all-terrain vehicles, and e-Tron electric vehicles, as well as Volkswagen Tiguan.
The company said that if these SUVs are banned from entering the United States, there are many other luxury mid-size SUVs and compact crossovers to meet consumer demand.
Volkswagen has responded. “The Volkswagen Group is examining the action in order to determine further steps,” a spokesperson for the company told Engadget. “We will not comment any further regarding an ongoing proceeding at this stage.”
Boeing’s Stock Price Is Taking Off Hard
On Wednesday, after the Federal Aviation Administration (FAA) announced that the Boeing 737 Max aircraft could fly safely again, Boeing’s stock price opened higher and lowered and finally fell. The FAA’s decision is considered a key milestone two years after the grounding of Boeing’s 737 Max aircraft.
Matt Maley, the chief market strategist at Miller Tabak, said that Boeing’s stock price movement was not because investors sold on good terms. He said on CNBC on Wednesday that this is just a normal healthy response after the stock price rebounded sharply.
Maley quoted Boeing’s chart as saying that Boeing’s stock price has risen by nearly 41% this month and 114% from the end of March. Boeing’s stock price needs to get rid of overbought status. He expects that Boeing will give up its gains in a week or so after digesting the good news and set a higher low.
Maley said that if Boeing’s stock price breaks through the June high in any way, which is between 230 and 230.50, the market outlook can continue to rise. In the short term, the stock needs a little respite. This is normal and healthy. In the long run, this stock looks good.
After Boeing 737 Max being approved for a go-around, John Petrides, portfolio manager of Tocqueville Asset Management, said the entire industrial sector may be relieved.
He said on the same CNBC program that in the past 24 months, Boeing has changed from a cash flow darling to a new coronavirus disaster, and they have to rely on government assistance.
Obviously, the Boeing 737’s return to flight is very positive news, which has a broader positive impact on the entire industrial sector, including companies in Boeing’s huge supply chain.
He continued to say that the positive aspects of the industrial sector are emerging one after another.
Petrides said there has been a style shift in the market from growth stocks to value stocks. Cyclical industries have especially benefited. If President-elect Biden implements the infrastructure package, coupled with the new coronavirus relief bill and economic recovery, as well as Boeing’s 737 Max, return to business, then, the industrial sector looks very attractive.