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Tag: BA

  • Diversify Advisory Services LLC Acquires 110 Shares of The Boeing Company (NYSE:BA)

    Diversify Advisory Services LLC Acquires 110 Shares of The Boeing Company (NYSE:BA)

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    Diversify Advisory Services LLC boosted its holdings in shares of The Boeing Company (NYSE:BAFree Report) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,415 shares of the aircraft producer’s stock after purchasing an additional 110 shares during the quarter. Diversify Advisory Services LLC’s holdings in Boeing were worth $1,026,000 at the end of the most recent quarter.

    Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Boeing during the 2nd quarter valued at approximately $33,000. Hobbs Group Advisors LLC bought a new stake in Boeing in the 2nd quarter worth approximately $34,000. McClarren Financial Advisors Inc. increased its stake in Boeing by 451.4% in the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after acquiring an additional 158 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in Boeing by 351.1% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after acquiring an additional 165 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Boeing in the 2nd quarter worth approximately $39,000. Institutional investors own 64.82% of the company’s stock.

    Boeing Trading Up 0.8 %

    Shares of BA stock opened at $154.24 on Thursday. The Boeing Company has a twelve month low of $146.02 and a twelve month high of $267.54. The stock has a market capitalization of $94.69 billion, a price-to-earnings ratio of -43.45 and a beta of 1.57. The stock has a fifty day simple moving average of $158.34 and a two-hundred day simple moving average of $171.24.

    Boeing (NYSE:BAGet Free Report) last issued its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The business had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned ($3.26) EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that The Boeing Company will post -5.35 EPS for the current fiscal year.

    Analyst Ratings Changes

    BA has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company reduced their price objective on Boeing from $109.00 to $86.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein downgraded Boeing from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $195.00 to $169.00 in a research note on Wednesday. UBS Group cut their target price on Boeing from $215.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Stifel Nicolaus boosted their target price on Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boeing has an average rating of “Hold” and an average price target of $190.42.

    View Our Latest Stock Analysis on BA

    Boeing Company Profile

    (Free Report)

    The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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    Want to see what other hedge funds are holding BA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Boeing Company (NYSE:BAFree Report).

    Institutional Ownership by Quarter for Boeing (NYSE:BA)



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  • United pulls plans for Boeing’s biggest 737 Max jet after Max 9 groundings

    United pulls plans for Boeing’s biggest 737 Max jet after Max 9 groundings

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    United Airlines Holdings Inc. on Tuesday said it was rethinking its longer-term plans for Boeing’s biggest 737 Max jet, the Max 10, after the government’s grounding of dozens of Max 9s this month raised questions over whether the aircraft maker could still deliver planes on time.

    United
    UAL,
    +5.31%

    Chief Executive Scott Kirby said during the airline’s earnings call on Tuesday that it wasn’t canceling its orders for the Max 10. But he said the airline was taking the jet “out of our internal plans.”

    “We’ll be working on what that means exactly with Boeing,” he said. “But Boeing is not going to be able to meet their contractual deliveries on at least many of those airplanes.”

    United, during the call, said that it had 277 Max 10 jets on order for the rest of the decade. Of the 107 jets set for delivery this year, 31 were Max 9s. But Chief Financial Officer Michael Leskinen said was “unrealistic” to expect those jets to arrive as currently planned.

    “Look,” he said. “The reality is that with the with the Max grounding, this is the kind of straw that broke the camel’s back with believing that the Max 10 will deliver on the schedule we had hoped for.”

    He added: “It’s a great aircraft. But we can’t count on it. So we’re working on alternate plans.” 

    The decision on the Max 10 marks the latest blow to Boeing’s
    BA,
    -1.60%

    reputation, as safety concerns pile up after a panel tore off a 737 Max 9 jet flown by Alaska Airlines earlier this month.

    The Federal Aviation Administration grounded 171 Boeing 737 Max 9s for inspections, leading to scores of flight cancellations for both United and Alaska
    ALK,
    +2.87%
    .
    United, when it reported fourth-quarter results on Monday, said it expected to lose money in the first quarter, following the impact of those cancellations. Still, shares were up on Tuesday on United’s full-year profit forecast.

    The FAA over the weekend also recommended that operators of Boeing’s 737-900ER planes “visually inspect mid-exit door plugs to ensure the door is properly secured.” Regulators around the world grounded the 737 Max in 2019 after two fatal crashes.

    Meanwhile, Ben Minicucci, the chief executive of Alaska Airlines, in an interview with NBC News published Tuesday, said inspectors found loose bolts on “many” of its Boeing 737 Max 9s after the mid-flight blowout.

    “I’m more than frustrated and disappointed,” he said in that interview. “I am angry. This happened to Alaska Airlines. It happened to our guests and happened to our people. And my demand on Boeing is, what are they going to do to improve their quality programs in-house?”

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  • Boeing 737 MAX 9 Issue Isn’t Going Away Soon. What to Know Before Buying the Stock.

    Boeing 737 MAX 9 Issue Isn’t Going Away Soon. What to Know Before Buying the Stock.

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    As Boeing stock enters its second week of volatile trading following the 737 MAX 9 accident, and it’s still not quite clear whether its shares have been punished enough—or if there is more pain ahead.

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  • U.S. stocks little changed in cautious trading ahead of inflation report, bank earnings

    U.S. stocks little changed in cautious trading ahead of inflation report, bank earnings

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    U.S. stock indexes were edging higher on Wednesday with technology stocks looking to extend gains ahead of the December inflation report, which is expected to shed more direct light on when the Federal Reserve could dial back its two-year-long effort to tighten monetary policy and cool the economy.

    How are stock indexes trading

    • The S&P 500
      SPX
      rose 8 points, or 0.2%, to 4,764

    • The Dow Jones Industrial Average
      DJIA
      was up 38 points, or 0.1%, to 37,562

    • The Nasdaq Composite
      COMP
      gained 43 points, or 0.3%, to 14,901.

    On Tuesday, the Dow industrials fell 0.4%, to 37,525, while the S&P 500 declined 0.2%, to 4,757, and the Nasdaq Composite gained less than 0.1%, to 14,858.

    What’s driving markets

    Inflation and its impact on bond markets and the Federal Reserve’s monetary-policy trajectory are the primary focus for markets this week as investors remain on hold ahead of Thursday’s December inflation reading and high-profile corporate earnings reports on Friday, when some of the big banks will kick off the fourth-quarter 2023 earnings season.

    The S&P 500 sits less than 0.7% shy of its record high of 4796.6 touched a little over two years ago, after rallying strongly in the last few months primarily on hopes that easing inflation will allow the Fed to lower interest rates sooner and faster than the markets previously anticipated.

    The yield on the 10-year Treasury
    BX:TMUBMUSD10Y,
    the benchmark for borrowing costs, has fallen from 5% in October to 4.014% on Wednesday.

    But for this bullish narrative to play out, inflation must be seen continuing to fall back to the central bank’s 2% target. That’s why great importance is therefore being placed on the consumer-price index for December, which will be published at 8:30 a.m. Eastern on Thursday.

    See: These traders bet on surprise blip higher in key December inflation reading

    Economists forecast that annual headline CPI inflation inched up to 3.2% last month from 3.1% in November. The core reading, which strips out more volatile items like food and energy, is expected to fall from 4% to 3.8%.

    Adam Phillips, director of portfolio strategy at EP Wealth Advisors, said the CPI report may give investors enough confidence that the disinflation is likely to continue, even if the price levels are “still a very long way from anything that is considered healthy.”

    However, he cautioned that the economy has “certain factors” that are beyond the Fed’s control, such as the volatility in supply chains and growing geopolitical risks, as well as a potential resurgence in inflation, he told MarketWatch via phone on Wednesday.

    “[E]quities have remained broadly range-bound since just before Christmas, with little to push them in either direction,” said Jim Reid, strategist at Deutsche Bank.

    “That might change soon, since we’ve got the U.S. CPI print tomorrow, and then the start of earnings season on Friday, but for now at least, there’s been few headlines for investors to latch onto, just a bit of indigestion after over exuberance before New Year left markets with a little bit of an extended hangover,” Reid added.

    In U.S. economic data, the wholesale inventories declined 0.2% in November, in line with Wall Street expectations, as manufacturers continue to juggle with a fragile economy, according to the Commerce Department.

    New York Fed President John Williams will speak in White Plains, N.Y., at 3:15 p.m. Eastern time.

    Companies in focus

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  • Boeing’s financials won’t be hurt by latest 737 Max issues, analysts say. The company’s size is one reason.

    Boeing’s financials won’t be hurt by latest 737 Max issues, analysts say. The company’s size is one reason.

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    Alaska Airlines, United Airlines and Turkish Airlines have all grounded their Boeing 737 Max 9 airplanes after part of one such jet tore away during an Alaska Airlines flight on Friday. But despite the potential safety risks for travelers and further damage to Boeing’s
    BA,
    -8.03%

    reputation, some Wall Street analysts, for now, have downplayed the financial impact for the jet maker.

    In part, they pointed to the company’s status as one of two major players in aircraft production — the other being Airbus
    EADSY,
    +3.52%
    .
    They also cited a tighter supply of available aircraft and limited near-term impact, at least while investigators try to figure out the cause of the incident.

    Those airlines and others took the action over the weekend after a panel on a jet blew out about 10 minutes into Alaska Airlines Flight 1282 at an altitude of about 16,000 feet.

    No one died in the incident. But the Federal Aviation Administration ordered the temporary grounding of certain Boeing 737 Max 9 aircraft. The order covered 171 planes.

    Shares of Boeing fell 8.2% as the stock weighed on the Dow Jones Industrial Average
    DJIA.

    Still, some Wall Street analysts on Monday said to buy the stock anyway. They said the latest difficulties with the aircraft — which follow the 2019 grounding of Max jets by many nations following two fatal crashes — were unlikely to have a big near-term financial impact.

    BofA analysts, in a research note dated Sunday, said that “at this point in time, due to the duopoly nature of the industry, we do not see this impacting orders for any of the 737 MAX variants. However, if the hits to the program do keep coming … at some point, the flying public may lose confidence in the 737 MAX which could ultimately impact sales.”

    The analysts said it wasn’t clear yet whether the blowout on Friday was due to an assembly mistake at Boeing, an improper installation from fuselage maker Spirit AeroSystems or oversight issues elsewhere. But they noted that the aircraft was relatively new, having been delivered on Oct. 31. And they said that “some scrutiny must be saved for regulators as well, as the FAA is ultimately responsible for certificating these aircraft before delivery.”

    Spirit AeroSystems’ stock
    SPR,
    -11.13%

    was down 11%.

    Analysts at William Blair also said they didn’t expect a big hit to Boeing’s financials.

    “While the Alaska Airlines door plug accident was terrifying, we do not believe that it will have a major financial impact, unless another incident occurs after the aircraft returns to service,” they said in a note on Monday.

    Analysts there estimated that over the past two months, the Max 9 made up less than one-fifth of Boeing’s total deliveries. They said those deliveries would only be “modestly impacted over the first quarter as it could take some time to determine the cause.”

    Of the 23 analyst ratings on Boeing’s stock tracked by FactSet, 18 are buy ratings or the equivalent.

    Read more: How Boeing’s latest 737 Max problem is hurting the Dow

    However, Morgan Stanley analyst Ravi Shanker said the 737 Max 9 issues will likely disrupt first-quarter results for United Airlines
    UAL,
    +2.78%

    and Alaska Air
    ALK,
    -0.21%
    .

    “This will hopefully be a situation resolved in days/weeks rather than months, but it will also serve as a reminder of how fragile airline capacity can be despite the overhang of capacity,” Shanker said in a Monday research note.

    United Airlines’ stock rose 2.4% on Monday, while Alaska Air’s dipped by 0.3%.

    Along with United Airlines, Alaska Airlines and Turkish Airlines, Copa Airlines and Aeromexico grounded about 40 Boeing 737 Max 9 planes, according to reports.

    According to Deutsche Bank analysts, the affected fleet accounts for 16.1% of Alaska Airlines flights and 6.6% of United flights, although United has more 737 Max 9 aircraft than Alaska.

    Other airlines with the plane in their fleet include Jet Airways of India with one plane, Jin Air of Korea with three, KLM Royal Dutch Airlines
    KLMR,

    with five and Korean Air Lines
    003490,
    -1.52%

    with nine, according to Planespotter.net.

    European regulators also grounded the 737 Max 9 for inspection.

    Some major airlines do not have any 737 Max 9s in their fleets, including American Airlines
    AAL,
    +7.21%
    ,
    Southwest Airlines
    LUV,
    -0.10%

    and Air Canada
    AC,
    +3.42%
    ,
    according to reports.

    Also read: Shares in Boeing slump, supplier Spirit AeroSystems tanks, after panel blows out

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  • Alaska Airlines grounds all Boeing 737-9 Max planes after flight suffers midair window blowout

    Alaska Airlines grounds all Boeing 737-9 Max planes after flight suffers midair window blowout

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    Alaska Airlines grounded all of its Boeing 737-9 aircraft late Friday, hours after a window and piece of fuselage on one such plane blew out in midair and forced an emergency landing in Portland, Oregon.

    The incident occurred shortly after takeoff and the gaping hole caused the cabin to depressurize. Flight data showed the plane climbed to 16,000 feet (4,876 meters) before returning to Portland International Airport.

    The airline
    ALK,
    +3.10%

    said the plane landed safely with 174 passengers and six crew members.

    “Following tonight’s event on Flight 1282, we have decided to take the precautionary step of temporarily grounding our fleet of 65 Boeing 737-9 aircraft,” Alaska Airlines CEO Ben Minicucci said in a statement.

    Each of the aircraft will be returned to service after full maintenance and safety inspections, which Minicucci said the airline anticipated completing within days.

    The airline provided no immediate information about whether anyone was injured or the possible cause.

    The plane was diverted about about six minutes after taking off at 5:07 p.m., according to flight tracking data from the FlightAware website. It landed at 5:26 p.m.

    The pilot told Portland air traffic controllers the plane had an emergency, was depressurized and needed to return to the airport, according to a recording made by the website LiveATC.net.

    A passenger sent KATU-TV in Portland a photo showing the hole in the side of the airplane next to passenger seats. Video shared with the station showed people wearing oxygen masks and passengers clapping as the plane landed.

    The National Transportation Safety Board said in a post on X, formerly known as Twitter, that it was investigating an event on the flight and would post updates when they are available. The Federal Aviation Administration also said it would investigate.

    The Boeing 737-9 MAX involved in the incident rolled off the assembly line and received its certification just two months ago, according to online FAA records.

    The plane had been on 145 flights since entering commercial service on Nov. 11, said FlightRadar24, another tracking service. The flight from Portland was the aircraft’s third of the day.

    Boeing
    BA,
    +1.66%

    said it was aware of the incident, working to gather more information and ready to support the investigation.

    The Max is the newest version of Boeing’s venerable 737, a twin-engine, single-aisle plane frequently used on U.S. domestic flights. The plane went into service in May 2017.

    Two Max 8 jets crashed in 2018 and 2019, killing 346 people and leading to a near two-year worldwide grounding of all Max 8 and Max 9 planes.

    The planes returned to service only after Boeing made changes to an automated flight control system implicated in the crashes.

    Last year, the FAA told pilots to limit use of an anti-ice system on the Max in dry conditions because of concern that inlets around the engines could overheat and break away, possibly striking the plane.

    Max deliveries have been interrupted at times to fix manufacturing flaws. The company told airlines in December to inspect the planes for a possible loose bolt in the rudder-control system.

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  • These 4 Stocks Cut Their Dividends. Now Is the Time to Bring Them Back.

    These 4 Stocks Cut Their Dividends. Now Is the Time to Bring Them Back.

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    The New Year is almost here, and that means it’s time for four of the last dividend cutters of 2020— Boeing, American Airlines Group, Royal Caribbean Group, and Carnival—to bring back their payouts to shareholders.

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  • Boeing Stock Drops. This Nagging Problem Is Growing.

    Boeing Stock Drops. This Nagging Problem Is Growing.

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    A persistent 737 MAX problem for is growing, which sent the stock lower in early trading Friday.

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  • How Bad Could BA.2.86 Get?

    How Bad Could BA.2.86 Get?

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    Since Omicron swept across the globe in 2021, the evolution of SARS-CoV-2 has moved at a slower and more predictable pace. New variants of interest have come and gone, but none have matched Omicron’s 30-odd mutations or its ferocious growth. Then, about two weeks ago, a variant descended from BA.2 popped up with 34 mutations in its spike protein—a leap in viral evolution that sure looked a lot like Omicron. The question became: Could it also spread as quickly and as widely as Omicron?

    This new variant, dubbed BA.2.86, has now been detected in at least 15 cases across six countries, including Israel, Denmark, South Africa, and the United States. This is a trickle of new cases, not a flood, which is somewhat reassuring. But with COVID surveillance no longer a priority, the world’s labs are also sequencing about 1 percent of what they were two years ago, says Thomas Peacock, a virologist at the Pirbright Institute. The less surveillance scientists are doing, the more places a variant could spread out of sight, and the longer it will take to understand BA.2.86’s potential.

    Peacock told me that he will be closely tracking the data from Denmark in the next week or two. The country still has relatively robust SARS-CoV-2 sequencing, and because it has already detected BA.2.86, we can now watch the numbers rise—or not—in real time. Until the future of BA.2.86 becomes clear, three scenarios are still possible.

    The worst but also least likely scenario is another Omicron-like surge around the world. BA.2.86 just doesn’t seem to be growing as explosively. “If it had been very fast, we probably would have known by now,” Peacock said, noting that, in contrast, Omicron’s rapid growth took just three or four days to become obvious.

    Scientists aren’t totally willing to go on record ruling out Omicron redux yet, if only because patchy viral surveillance means no one has a complete global picture. Back in 2021, South Africa noticed that Omicron was driving a big COVID wave, which allowed its scientists to warn the rest of the world. But if BA.2.86 is now causing a wave in a region that isn’t sequencing viruses or even testing very much, no one would know.

    Even in this scenario, though, our collective immunity will be a buffer against the virus. BA.2.86 looks on paper to have Omicron-like abilities to cause reinfection, according to a preliminary analysis of its mutations by Jesse Bloom, a virologist at the Fred Hutchinson Cancer Center, in Washington, but he adds that there’s a big difference between 2021 and now. “At the time of the Omicron wave, there were still a lot of people out there that had never been either vaccinated or infected with SARS-CoV-2, and those people were sort of especially easy targets,” he told me. “Now the vast, vast majority of people in the world have either been infected or vaccinated with SARS-CoV-2—or are often both infected and vaccinated multiple times. So that means I think any variant is going to have a very hard time spreading as well as Omicron.”

    A second and more likely possibility is that BA.2.86 ends up like the other post-Omicron variants: transmissible enough to edge out a previous variant, but not transmissible enough to cause a big new surge. Since the original Omicron variant, or BA.1, took over, the U.S. has successively cycled through BA.2, BA.2.12.1, BA.5, BQ.1, XBB.1.5—and if these jumbles of numbers and letters seem only faintly familiar, it’s because they never reached the same levels of notoriety as the original. Vaccine makers track them to keep COVID shots up to date, but the World Health Organization hasn’t deemed any worthy of a new Greek letter.

    If BA.2.86 continues to circulate, though, it could pick up mutations that give it new advantages. In fact, XBB.1.5, which rose to dominance earlier this year, leveled up this way. When XBB.1.5’s predecessor was first identified in Singapore, Peacock said, it wasn’t a very successful variant: Its spike protein bound weakly to receptors in human cells. Then it acquired an additional mutation in its spike protein that compensated for the loss of binding, and it turned into the later-dominant XBB.1.5. Descendents of BA.2.86 could eventually become more transmissible than the variant looks right now.

    A third scenario is that BA.2.86 just fizzles out and goes away. Scientists now believe that highly mutated variants such as BA.2.86 are probably products of chronic infections in immunocompromised patients. In these infections, the virus remains in the body for a long time, trying out new ways to evade the immune system. It might end up with mutations that make its spike protein less recognizable to antibodies, but those same mutations could also render the spike protein less functional and therefore the virus less good at transmitting from person to person.

    “Variants like that have been identified over the last few years,” Bloom said. “Often there’s one sample found, and that’s it. Or multiple samples all found in the same place.” BA.2.86 is transmissible enough to be found multiple times in multiple places, but whether it can overtake existing variants is unclear. To do so, BA.2.86 needs to escape antibodies while also preserving its inherent transmissibility. Otherwise, Bloom said, cases might crop up here and there, but the variant never really takes off. In other words, the BA.2.86 situation basically stays where it is right now.

    The next few weeks will reveal which of these futures we’re living in. If the number of BA.2.86 cases starts to go up, in a way that requires more attention, we’ll know soon. But each week that the variant’s spread does not jump dramatically, the less likely BA.2.86 is to end up a variant of actual concern.

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    Sarah Zhang

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  • Cerberus heatwave fans out to Balkans

    Cerberus heatwave fans out to Balkans

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    BELGRADE, July 13 (Reuters) – Swathes of the Balkans sweltered in temperatures above 40 degrees Celsius (104 Fahrenheit) on Thursday in a heatwave named “Cerberus”, after the three-headed dog of the underworld in Greek mythology, that has fanned across Europe.

    In Croatia, 56 firefighters with 20 vehicles and three aircraft, struggled to contain a bushfire that was spreading rapidly due to strong southerly winds near the Adriatic town of Sibenik.

    In the country’s Adriatic resort of Nin, dozens of beachgoers covered themselves in thick black mud believed to have medicinal properties and an effective sunscreen.

    “It (mud) is definitely better than sun screen, I think protection factor is much better,” said a tourist from Slovakia who only gave his name as Josef.

    Meteorologists and doctors in Montenegro, Bosnia and Serbia, warned people to stay indoors or drink plenty of liquids if venturing outside.

    Temperatures were expected to stay around 40 degrees Celsius across the region into next week.

    Reporting by Aleksandar Vasovic in Belgrade and Antonio Bronic in Nin; Editing by Emelia Sithole-Matarise

    Our Standards: The Thomson Reuters Trust Principles.

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  • Tesla, Nvidia, Spirit Aerosystems, KB Home, Accenture, and More Market Movers

    Tesla, Nvidia, Spirit Aerosystems, KB Home, Accenture, and More Market Movers

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    Stock futures were falling following three straight days of losses for Wall Street. Federal Reserve Chairman Jerome Powell again will be delivering testimony before Congress. His comments on Wednesday that the central bank likely would be raising rates further this year pushed markets lower.

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  • Alibaba, Dice, Arcellx, Avis, PayPal, and More Stock Market Movers

    Alibaba, Dice, Arcellx, Avis, PayPal, and More Stock Market Movers

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  • Boeing Stock Likes the Paris Air Show. There Is a Catch.

    Boeing Stock Likes the Paris Air Show. There Is a Catch.

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    Boeing Stock Usually Wins From the Paris Air Show. This Is the Catch.

    Investors who are buying into the post-Covid recovery of commercial aerospace will get an important update about the industry, including the hot issues of sustainability and supply-chain snags, when the Paris Air Show kicks off on Monday.

    An error has occurred, please try again later.

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  • Boeing stock drops on warning about defect on 787 Dreamliner planes

    Boeing stock drops on warning about defect on 787 Dreamliner planes

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    Shares of Boeing Co. dropped 2% in midday trading Tuesday after the aerospace and defense company said it found new problems with its 787 Dreamliner jets.

    The defect, which is not a flight safety concern, is connected with a stabilizer fitting, and will lead the company to inspect every plane in inventory before delivery, Boeing
    BA,
    -0.71%

    said.

    The inspections and required rework will affect timing of near-term 787 deliveries, but “at this time we do not expect that this issue will change our full-year guidance regarding 787 deliveries,” the company said.

    At the time it reported first-quarter earnings in April, Boeing said its 787 program was producing at least three jets a month “with plans to ramp production to five per month in late 2023” and on to 10 a month by 2025-26.

    In-service fleet may continue to operate, and the FAA and customers have been informed, Boeing said.

    Dreamliner deliveries were halted in February after a documentation and data-analysis error, and the FAA had cleared the jets’ deliveries in March.

    Boeing in April identified a problem with another jet family, the 737 Max, related to fittings.

    Shares of Boeing have gained around 9% so far this year, compared with gains of about 11% for the S&P 500 index.
    SPX,
    +0.24%

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  • Boeing Faces New 737 MAX Test After Deliveries Halted. The Stock Is Falling.

    Boeing Faces New 737 MAX Test After Deliveries Halted. The Stock Is Falling.

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    It isn’t what investors want to hear.



    Boeing


    (ticker: BA) has run into a new problem with its 737 MAX jet. The issue will test investors nerves in coming weeks, and raise more questions about the company’s ability to increase production in 2023.

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  • JPMorgan, Wells Fargo, Boeing, Lucid, and More Stock Market Movers

    JPMorgan, Wells Fargo, Boeing, Lucid, and More Stock Market Movers

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  • The Coronavirus-Naming Free-for-All

    The Coronavirus-Naming Free-for-All

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    These days, it’s a real headache to keep tabs on the coronavirus’s ever-shifting subvariants. BA.2, BA.4, and BA.5, three Omicron permutations that rose to prominence last year, were confusing enough. Now, in addition to those, we have to deal with BQ.1.1, BF.7, B.5.2.6, and XBB.1.5, the version of Omicron currently featuring in concerned headlines. Recently, things have also gotten considerably stranger. Alongside the strings of letters and numbers, several nicknames for these subvariants have started to gain traction online. Where once we had Alpha and Delta and Omicron, we now have Basilisk, Minotaur, and Hippogryph. Some people have been referring to XBB.1.5 simply as “the Kraken.” A list compiled on Twitter reads less like an inventory of variants than like the directory of a mythological zoo.

    The nicknames are not official. They were coined not by the World Health Organization but by an informal group of scientists on Twitter who believe Omicron’s many rotating varieties deserve more widespread conversation. The names have, to an extent, caught on: Kraken has already made its way from Twitter to a number of major news sites, including Bloomberg and The New York Times. Unofficial epithets have come and gone throughout the pandemic—remember “stealth Omicron” and the “Frankenstein variant”?—but these new ones are on another level of weirdness. And not everyone’s a fan.

    The names associated with the coronavirus have been a fraught conversation since the pandemic’s earliest days, as scientists and public-health figures have tried to use terms that are comprehensible and hold people’s attention but that also avoid pitfalls of inaccuracy, fear-mongering, or xenophobia and racism (see: Donald Trump referring to the coronavirus as “the Chinese virus” and “kung flu”). The official names for variants and subvariants—names such as SARS-CoV-2 B.1.1.7—come from the Pango naming system, which was fashioned by evolutionary biologists in the early months of the pandemic to standardize variant-naming practices. As baffling as they can seem, they follow a clear logic: Under the system, B refers to a particular COVID lineage, B.1 refers to the sublineage of B lineage, B.1.1 refers to the first sublineage of the B.1 sublineage, and so on. When the names get too long, a letter replaces a string of numbers—B.1.1.529.1, for example, becomes BA.1.

    These official names do not exactly roll off the tongue or stick in the memory, which became a problem when new variants of concern started to arise and the world began groping for ways to talk about them. In May 2021, the WHO instituted its now-familiar Greek-letter naming system to stamp out the geographic associations that were gaining prominence at the time. B.1.1.7, B.1.351, and B.1.617—which were being referred to respectively as the U.K. variant, the South African variant, and the Indian variant—became Alpha, Beta, and Delta. But then, alas, came Omicron. Rather than giving way to yet another new Greek-letter variant, Omicron has spent more than a year branching into sublineages, and sublineages of sublineages. As a result, the nomenclature has devolved back into alphanumeric incomprehensibility. Seven different Omicron sublineages now account for at least 2 percent of all infections, and none accounts for more than about 40 percent (though XBB.1.5 is threatening to overwhelm its competitors).

    It’s great news that the ways in which the coronavirus has been mutating recently haven’t been significant enough to produce a whole new, widespread, and possibly far more worrisome version of itself that the world has to contend with. But it also makes talking about the virus much more annoying. Enter T. Ryan Gregory, an evolutionary biologist at Canada’s University of Guelph who is one of the leaders of a small, informal group of scientists that have taken it upon themselves to name the many subvariants that the WHO does not deem worthy of a new Greek letter. The names—Hydra, Cerberus, Centaurus—originated on Twitter, where Gregory compiled them into a list.

    Their value, Gregory told me, is that they fill the space in between the Greek and Pango systems, allowing people to discuss the many current Omicron variants that do not justify a new Greek letter but are still, perhaps, of interest. You can think of it in the same way we do animal taxonomy, he said. Calling a variant Omicron, like calling an animal a mammal, is not particularly descriptive. Calling a variant by its Pango name, like calling an animal by its Latinate species designation, is highly descriptive but a bit unwieldy in common parlance. When we speak of farm animals that moo and produce milk, we speak not of mammals or of Bos taurus but of cows. And so BA.2.3.20 became Basilisk.

    To decide whether a new lineage deserves its own name, Gregory told me, he and his colleagues consider both evolutionary factors (how different is this lineage from its predecessors, and how concerning are its mutations?) and epidemiological factors (how much havoc is this lineage wreaking in the population?). They’re trying to make the process more formal, but Gregory would prefer that the WHO take over and standardize the process.

    That, however, is unlikely to happen. When I asked about this, Tarik Jasarevic, a WHO spokesperson, told me that the organization is aware of the unofficial names but that, for the moment, they’re not necessary. “Virologists and other scientists are monitoring these variants, but the public doesn’t need to distinguish between these Omicron subvariants in order to better understand their risk or the measures they need to take to protect themselves,” he said. The WHO’s position, in other words, is that the differences between one Omicron subvariant and another simply haven’t mattered much in any practical sense, because they shouldn’t have any effect on our behavior. No matter the sublineage, vaccines and boosters still offer the best protection available. Masks still work. Guidance on testing and isolation, too, is the same across the board. “If there is a new variant that requires public communication and discourse,” Jasarevic told me, “it would be designated a new variant of concern and assigned a new label.”

    The WHO isn’t alone in objecting. For Stephen Goldstein, an evolutionary virologist at the University of Utah, the new names are not just unnecessary but potentially harmful. “It’s absolutely crazy that we’re having random people on Twitter name variants,” he told me. For Goldstein, dressing up each new subvariant with an ominous monster name overplays the differences between the mutations and feeds into the panic that comes every time the coronavirus shifts form. In this view, distinguishing one Omicron sublineage from another is less like distinguishing a wolf from a cow and more like distinguishing a white-footed mouse from a deer mouse: important to a rodentologist but not really to anyone else. To go as far as naming lineages after terrifying mythical beasts, he said, “seems obviously intended to scare the shit out of people … It’s hard to understand what broader goal there is here other than this very self-serving clout chasing.”

    Gregory told me that fear and attention are not his group’s aim. He also said, though, that his group is thinking of switching from mythological creatures to something more neutral, such as constellations, in part to address concerns of whipping up unnecessary panic. When it comes to XBB.1.5, some of that panic certainly already exists, whipped up by less-than-nuanced headlines and Twitter personalities who feast on moments like these. Whether or not the name Kraken has contributed, the fear is that XBB.1.5 might be a variant so immune-evasive that it infects everyone all over again or so virulent that it amps up the risk of any given infection. So far, that does not seem to be the case.

    As my colleague Katherine Wu reported in November, we are likely (though by no means definitely) stuck for the foreseeable future in this Omicron purgatory, with its more gradual, more piecemeal pattern of viral evolution. This is certainly preferable to the sudden and unexpected emergence of a dangerous, drastically different variant. But it does mean that we’re likely going to be arguing about whether and how and with what names to discuss Omicron subvariants for some time to come.

    Whichever side you come down on, the state of variant-naming pretty well encapsulates the state of the pandemic as a whole. Hardly anything about the pandemic has been a matter of universal agreement, but the present nomenclatural free-for-all seems to have taken us somewhere even more splintered, even more anarchic. We’re not just arguing about the pandemic; we’re arguing about how to argue about the pandemic. And there’s no end in sight.

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    Jacob Stern

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  • The Dow industrials are on the verge of a ‘golden cross,’ even as BlackRock predicts recession like no other

    The Dow industrials are on the verge of a ‘golden cross,’ even as BlackRock predicts recession like no other

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    Despite worries about inflation and an impending recession, there is at least one sign that some bullish market technical analysts might latch onto.

    An upbeat golden cross appears to be forming in the Dow Jones Industrial Average 
    DJIA,
    -0.90%
    ,
     more than nine months after a bearish death cross formed back in March, as the hawkish agenda of the Federal Reserve shattered bullishness on Wall Street.

    A golden cross occurs when the 50-day moving average for an asset price trades above the 200-day MA, while a death cross, comparatively, is when the 50-day falls below the long-term average.

    The 50-day moving average for the Dow stands at 32,200.32, at last check Friday afternoon, while the 200-day sits at 32,460.71, a roughly 260-point difference that could be traversed in the coming week or two, based on its current trajectory.


    FactSet

    A golden cross would mark the first for the Dow industrials since 2020 of August, according to Dow Jones Market Data.

    The bullish chart formation also would appear at an odd time for investors, with an apparent uptrend materializing in the stock market, even as the threat of a recession in 2023 grows.

    Read: Financial markets are flashing a warning that a recession is imminent: here’s what it means for stocks

    See: Goldman Sachs CEO says recession is likely, with 35% chance of a soft landing

    BlackRock, the world’s largest asset manager, is anticipating a unique recession unlike others that we’ve seen in U.S. history.

    “The new macro regime is playing out. We think that requires a new, dynamic playbook based on views of market risk appetite and pricing of macro damage,” wrote BlackRock’s Investment Institute team led by Jean Boivin.

    The BlackRock team said markets aren’t necessarily pricing in the recession that is being predicted.

    “Central banks appear set on doing ‘whatever it takes’ to fight inflation, making recession foretold, in our view,” the team at BlackRock wrote.

    As MarketWatch’s Tomi Kilgore notes, crosses, overall, aren’t necessarily good market-timing indicators.

    Check out: MarketWatch’s live blog of the market

    On top of that, MarketWatch columnist Mark Hulbert concludes that the U.S. stock market on average has performed no better in the wake of a golden crosses as it did at other times.

    In many cases, a golden cross can help put an asset’s move into perspective, however, they tend to be well telegraphed.

    Interestingly, the recession is also being widely predicted and some don’t think investors are getting the memo. As BlackRock notes, investors aren’t reflecting the damage that is to come, particularly as earnings expectations from American companies are right-sized.

    So, it might be worth it for investors to take any golden crosses in assets with a grain of salt.

    So far, the Dow industrials have outperformed over the past three months, up about 5%, compared with a decline of 2.5% for the S&P 500
    SPX,
    -0.73%

    and an 8.2% drop for the Nasdaq Composite
    COMP,
    -0.70%
    .

    Over the past three months, the Dow industrials have recent in aggregate on the back of gains in shares of Caterpillar
    CAT,
    -1.56%
    ,
    Boeing Co.
    BA,
    +0.20%

    Merck & Co.
    MRK,
    -1.86%
    ,
    IBM
    IBM,
    -0.47%

    and Travelers Cos.
    TRV,
    -1.10%
    .

    For the year so far, the Dow is down 7%, while the S&P 500 is off 17% and the Nasdaq is down nearly 30%.

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  • S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hikes

    S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hikes

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    The S&P 500 and Nasdaq Composite indexes recorded their worst day in almost a month on Monday, after a hotter-than-expected U.S. services-sector reading fueled concerns that the Federal Reserve may need to be even more aggressive in its inflation battle.

    How stocks traded
    • The Dow Jones Industrial Average
      DJIA,
      -0.26%

      finished down 482.78 points, or 1.4%, at 33,947.10.

    • The S&P 500
      SPX,
      -1.79%

      ended 72.86 points lower, or 1.8%, at 3,998.84.

    • The Nasdaq Composite
      COMP,
      -11.01%

      closed down 221.56 points, or 1.9%, at 11,239.94.

    • Those were the largest declines for the S&P 500 and Nasdaq Composite since Nov. 9, according to Dow Jones Market Data.

    Stocks finished mixed on Friday, although they clinched gains last week, following a robust November jobs report, which stoked fears that inflation might not be so easily defeated.

    What drove markets

    Strong wage growth numbers released Friday were followed up on Monday by a robust reading for the U.S. services sector — both of which helped to stoke fears that the Fed’s interest-rate hikes, along with the central bank’s modest balance-sheet unwind, haven’t had much of an impact on the tight labor market.

    The ISM barometer of U.S. business conditions in the service sector came in stronger than expected, rising to 56.5% in November, a healthy showing that signals the U.S. economy is still expanding at a steady pace.

    “If nothing else, the ISM services report is being interpreted as very strong, and thus the economy is overheating and that means more Fed tightening,” said Will Compernolle, a senior economist at FHN Financial in New York. “Consumer resilience has proven to be more intense than I would have expected. In the two most interest-rate sensitive sectors — housing and autos — tightening has channeled into markets in meaningful ways.”

    But there has been so much pent-up demand, that higher interest rates haven’t been cooling overall spending as much as the Fed would like because companies are still having to fill a backlog of orders, he said via phone.

    In other economic data, the final November S&P Global U.S. services PMI edged up to 46.2 from 46.1, but remained in contractionary territory.

    November jobs data released on Friday showed average hourly wages grew over the past year by more than 5% as of November, beating economists’ expectations and stoking concerns that robust wage growth would continue to fuel inflation, market strategists said.

    Worries about a more-aggressive Fed also helped to drive Treasury yields higher, adding to the pressure on stocks. The yield on the 10-year note rose 9.6 basis points to 3.6% on Monday. Treasury yields move inversely to prices, and yields had fallen sharply over the past month, driven by shifting expectations about the pace of Fed rate hikes.

    Monday’s ISM services figure “surprised to the upside, suggesting that the economy is still running above its long-run sustainable path and that the Fed is going to have to slow the economy more than expected in 2023,” Bill Adams, the Dallas-based chief economist for Comerica Inc. CMA, said via phone.

    In other markets news, signs that China’s government is easing its COVID restrictions helped Hong Kong’s Hang Seng Index
    HSI,
    +4.51%

    finish with a 4.5% gain.

    See also: Chinese ADRs and casino operators rally on signs of easing COVID

    Meanwhile, oil futures ended lower on Monday, a day after Sunday’s decision by OPEC and its allies to keep production quotas unchanged.

    Falling equity prices helped drive the CBOE Volatility Index
    VIX,
    +8.87%
    ,
    also known as the VIX, back above 20 on Monday. The volatility gauge had fallen sharply in recent weeks as stocks rallied, potentially signaling complacency that could ultimately hurt stocks, said Jonathan Krinsky, chief market technician at BTIG, in a note to clients.

    Companies in focus

    –Jamie Chisholm contributed reporting to this article.

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  • BA Stock Price | Boeing Co. Stock Quote (U.S.: NYSE) | MarketWatch

    BA Stock Price | Boeing Co. Stock Quote (U.S.: NYSE) | MarketWatch

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    Boeing Co.

    The Boeing Co. is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide. The Defense, Space and Security segment refers to the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter and combat rotorcraft aircraft and missile systems, global mobility, including tanker, rotorcraft and tilt-rotor aircraft, and airborne surveillance and reconnaissance, including command and control, battle management and airborne anti-submarine aircraft. The Global Services segment provides services to commercial and defense customers. The Boeing Capital segment seeks to ensure that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure. The company was founded by William Edward Boeing on July 15, 1916, and is headquartered in Arlington, VA.

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