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6500.0
|
2019-04-01 00:00:00 UTC
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Insiders Buy the Holdings of MGV ETF
|
AAL
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https://www.nasdaq.com/articles/insiders-buy-holdings-mgv-etf-2019-04-01
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nan
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nan
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A look at the weighted underlying holdings of the Vanguard Mega Cap Value ETF (Symbol: MGV) shows an impressive 12.4% of holdings on a weighted basis have experienced insider buying within the past six months.
Williams Cos Inc (Symbol: WMB), which makes up 0.34% of the Vanguard Mega Cap Value ETF (Symbol: MGV), has seen 5 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $8,228,705 worth of WMB, making it the #82 largest holding. The table below details the recent insider buying activity observed at WMB:
WMB — last trade: $28.72 — Recent Insider Buys:
Purchased Insider Title Shares Price/Share Value
11/02/2018 Terrance Lane Wilson SVP & General Counsel 1,000 $25.75 $25,750
11/02/2018 John D. Chandler Sr. Vice President & CFO 10,000 $25.94 $259,422
11/02/2018 Michael A. Creel Director 25,000 $25.77 $644,283
11/02/2018 Micheal G. Dunn Executive Vice President & COO 2,500 $25.54 $63,842
11/06/2018 Chad J. Zamarin Senior Vice President - CSD 2,500 $25.69 $64,218
And American Airlines Group Inc (Symbol: AAL), the #135 largest holding among components of the Vanguard Mega Cap Value ETF (Symbol: MGV), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $3,017,563 worth of AAL, which represents approximately 0.13% of the ETF's total assets at last check. The recent insider buying activity observed at AAL is detailed in the table below:
AAL — last trade: $31.76 — Recent Insider Buys:
Purchased Insider Title Shares Price/Share Value
10/29/2018 John T. Cahill Director 25,000 $33.47 $836,762
11/19/2018 Jeffrey D. Benjamin Director 15,000 $35.69 $535,300
10 ETFs With Stocks That Insiders Are Buying »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The table below details the recent insider buying activity observed at WMB: WMB — last trade: $28.72 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 11/02/2018 Terrance Lane Wilson SVP & General Counsel 1,000 $25.75 $25,750 11/02/2018 John D. Chandler Sr. Vice President & CFO 10,000 $25.94 $259,422 11/02/2018 Michael A. Creel Director 25,000 $25.77 $644,283 11/02/2018 Micheal G. Dunn Executive Vice President & COO 2,500 $25.54 $63,842 11/06/2018 Chad J. Zamarin Senior Vice President - CSD 2,500 $25.69 $64,218 And American Airlines Group Inc (Symbol: AAL), the #135 largest holding among components of the Vanguard Mega Cap Value ETF (Symbol: MGV), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $3,017,563 worth of AAL, which represents approximately 0.13% of the ETF's total assets at last check. The recent insider buying activity observed at AAL is detailed in the table below: AAL — last trade: $31.76 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 10/29/2018 John T. Cahill Director 25,000 $33.47 $836,762 11/19/2018 Jeffrey D. Benjamin Director 15,000 $35.69 $535,300 10 ETFs With Stocks That Insiders Are Buying » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The table below details the recent insider buying activity observed at WMB: WMB — last trade: $28.72 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 11/02/2018 Terrance Lane Wilson SVP & General Counsel 1,000 $25.75 $25,750 11/02/2018 John D. Chandler Sr. Vice President & CFO 10,000 $25.94 $259,422 11/02/2018 Michael A. Creel Director 25,000 $25.77 $644,283 11/02/2018 Micheal G. Dunn Executive Vice President & COO 2,500 $25.54 $63,842 11/06/2018 Chad J. Zamarin Senior Vice President - CSD 2,500 $25.69 $64,218 And American Airlines Group Inc (Symbol: AAL), the #135 largest holding among components of the Vanguard Mega Cap Value ETF (Symbol: MGV), shows 2 directors and officers as recently filing Form 4's indicating purchases. The recent insider buying activity observed at AAL is detailed in the table below: AAL — last trade: $31.76 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 10/29/2018 John T. Cahill Director 25,000 $33.47 $836,762 11/19/2018 Jeffrey D. Benjamin Director 15,000 $35.69 $535,300 10 ETFs With Stocks That Insiders Are Buying » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The ETF holds $3,017,563 worth of AAL, which represents approximately 0.13% of the ETF's total assets at last check.
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The table below details the recent insider buying activity observed at WMB: WMB — last trade: $28.72 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 11/02/2018 Terrance Lane Wilson SVP & General Counsel 1,000 $25.75 $25,750 11/02/2018 John D. Chandler Sr. Vice President & CFO 10,000 $25.94 $259,422 11/02/2018 Michael A. Creel Director 25,000 $25.77 $644,283 11/02/2018 Micheal G. Dunn Executive Vice President & COO 2,500 $25.54 $63,842 11/06/2018 Chad J. Zamarin Senior Vice President - CSD 2,500 $25.69 $64,218 And American Airlines Group Inc (Symbol: AAL), the #135 largest holding among components of the Vanguard Mega Cap Value ETF (Symbol: MGV), shows 2 directors and officers as recently filing Form 4's indicating purchases. The recent insider buying activity observed at AAL is detailed in the table below: AAL — last trade: $31.76 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 10/29/2018 John T. Cahill Director 25,000 $33.47 $836,762 11/19/2018 Jeffrey D. Benjamin Director 15,000 $35.69 $535,300 10 ETFs With Stocks That Insiders Are Buying » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The ETF holds $3,017,563 worth of AAL, which represents approximately 0.13% of the ETF's total assets at last check.
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The table below details the recent insider buying activity observed at WMB: WMB — last trade: $28.72 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 11/02/2018 Terrance Lane Wilson SVP & General Counsel 1,000 $25.75 $25,750 11/02/2018 John D. Chandler Sr. Vice President & CFO 10,000 $25.94 $259,422 11/02/2018 Michael A. Creel Director 25,000 $25.77 $644,283 11/02/2018 Micheal G. Dunn Executive Vice President & COO 2,500 $25.54 $63,842 11/06/2018 Chad J. Zamarin Senior Vice President - CSD 2,500 $25.69 $64,218 And American Airlines Group Inc (Symbol: AAL), the #135 largest holding among components of the Vanguard Mega Cap Value ETF (Symbol: MGV), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $3,017,563 worth of AAL, which represents approximately 0.13% of the ETF's total assets at last check. The recent insider buying activity observed at AAL is detailed in the table below: AAL — last trade: $31.76 — Recent Insider Buys: Purchased Insider Title Shares Price/Share Value 10/29/2018 John T. Cahill Director 25,000 $33.47 $836,762 11/19/2018 Jeffrey D. Benjamin Director 15,000 $35.69 $535,300 10 ETFs With Stocks That Insiders Are Buying » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6501.0
|
2019-04-01 00:00:00 UTC
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FAA says glitch fixed, U.S. airlines back up
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AAL
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https://www.nasdaq.com/articles/faa-says-glitch-fixed-us-airlines-back-2019-04-01
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nan
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nan
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April 1 () - U.S. airlines were back in operation on Monday after a series of system-wide outages delayed flights and fired-up customer complaints on social media.
The Federal Aviation Administration said the problem was caused by the Aerodata airplane planning weight and balance program.
The agency issued a statement around 8.30 a.m. ET, saying the issue had been resolved.
"A brief third-party technology issue that prevented some Delta Connection flights from being dispatched on time this morning has been resolved," Delta said.
Other airlines also reported a series of delays as a result of the problem.
Southwest Airlines was the first carrier to report that the problem had been resolved and it would get travellers moving soon, before later adding customers should expect flight delays.
One Southwest passenger reported waiting on the tarmac in Dallas for 90 minutes after his 6 a.m. flight to New Orleans was delayed. The airline said after the systems resumed that the flight would arrive at 8.05 a.m.
Other passengers reported long wait times at airports and missed connections.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
April 1 () - U.S. airlines were back in operation on Monday after a series of system-wide outages delayed flights and fired-up customer complaints on social media. Southwest Airlines was the first carrier to report that the problem had been resolved and it would get travellers moving soon, before later adding customers should expect flight delays. The airline said after the systems resumed that the flight would arrive at 8.05 a.m. Other passengers reported long wait times at airports and missed connections.
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"A brief third-party technology issue that prevented some Delta Connection flights from being dispatched on time this morning has been resolved," Delta said. One Southwest passenger reported waiting on the tarmac in Dallas for 90 minutes after his 6 a.m. flight to New Orleans was delayed. The airline said after the systems resumed that the flight would arrive at 8.05 a.m. Other passengers reported long wait times at airports and missed connections.
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"A brief third-party technology issue that prevented some Delta Connection flights from being dispatched on time this morning has been resolved," Delta said. Southwest Airlines was the first carrier to report that the problem had been resolved and it would get travellers moving soon, before later adding customers should expect flight delays. The airline said after the systems resumed that the flight would arrive at 8.05 a.m. Other passengers reported long wait times at airports and missed connections.
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The Federal Aviation Administration said the problem was caused by the Aerodata airplane planning weight and balance program. ET, saying the issue had been resolved. Southwest Airlines was the first carrier to report that the problem had been resolved and it would get travellers moving soon, before later adding customers should expect flight delays.
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6502.0
|
2019-04-01 00:00:00 UTC
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U.S. airlines hit by system-wide outages
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AAL
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https://www.nasdaq.com/articles/us-airlines-hit-system-wide-outages-2019-04-01
|
nan
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nan
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April 1 () - U.S. airlines were hit by system-wide computer outages on Monday related to problems with the Aerodata planning weight and balance program, the Federal Aviation Administration said.
After reporting problems along with several major peers, however, Southwest Airlines Co said on Twitter that it had received word that the problem had already been resolved and that systems would be back up soon.
Earlier, carriers had reported problems through their social media accounts, with United Airlines saying it was unable to create paperwork as a result.
Canada'sAlaska Air Group Inc also said on its social media account that it was experiencing a system-wide outage.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
April 1 () - U.S. airlines were hit by system-wide computer outages on Monday related to problems with the Aerodata planning weight and balance program, the Federal Aviation Administration said. Earlier, carriers had reported problems through their social media accounts, with United Airlines saying it was unable to create paperwork as a result. Canada'sAlaska Air Group Inc also said on its social media account that it was experiencing a system-wide outage.
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After reporting problems along with several major peers, however, Southwest Airlines Co said on Twitter that it had received word that the problem had already been resolved and that systems would be back up soon. Earlier, carriers had reported problems through their social media accounts, with United Airlines saying it was unable to create paperwork as a result. Canada'sAlaska Air Group Inc also said on its social media account that it was experiencing a system-wide outage.
|
April 1 () - U.S. airlines were hit by system-wide computer outages on Monday related to problems with the Aerodata planning weight and balance program, the Federal Aviation Administration said. After reporting problems along with several major peers, however, Southwest Airlines Co said on Twitter that it had received word that the problem had already been resolved and that systems would be back up soon. Earlier, carriers had reported problems through their social media accounts, with United Airlines saying it was unable to create paperwork as a result.
|
April 1 () - U.S. airlines were hit by system-wide computer outages on Monday related to problems with the Aerodata planning weight and balance program, the Federal Aviation Administration said. After reporting problems along with several major peers, however, Southwest Airlines Co said on Twitter that it had received word that the problem had already been resolved and that systems would be back up soon. Earlier, carriers had reported problems through their social media accounts, with United Airlines saying it was unable to create paperwork as a result.
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6503.0
|
2019-04-01 00:00:00 UTC
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Notable Monday Option Activity: HD, LOW, AAL
|
AAL
|
https://www.nasdaq.com/articles/notable-monday-option-activity-hd-low-aal-2019-04-01-0
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nan
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nan
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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Home Depot Inc (Symbol: HD), where a total of 36,315 contracts have traded so far, representing approximately 3.6 million underlying shares. That amounts to about 81.3% of HD's average daily trading volume over the past month of 4.5 million shares. Especially high volume was seen for the $192.50 strike put option expiring April 05, 2019 , with 4,856 contracts trading so far today, representing approximately 485,600 underlying shares of HD. Below is a chart showing HD's trailing twelve month trading history, with the $192.50 strike highlighted in orange:
Lowe's Companies Inc (Symbol: LOW) options are showing a volume of 35,957 contracts thus far today. That number of contracts represents approximately 3.6 million underlying shares, working out to a sizeable 75.6% of LOW's average daily trading volume over the past month, of 4.8 million shares. Particularly high volume was seen for the $110 strike put option expiring April 05, 2019 , with 3,438 contracts trading so far today, representing approximately 343,800 underlying shares of LOW. Below is a chart showing LOW's trailing twelve month trading history, with the $110 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 52,410 contracts thus far today. That number of contracts represents approximately 5.2 million underlying shares, working out to a sizeable 72.7% of AAL's average daily trading volume over the past month, of 7.2 million shares. Especially high volume was seen for the $33.50 strike call option expiring April 05, 2019 , with 21,203 contracts trading so far today, representing approximately 2.1 million underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $33.50 strike highlighted in orange:
For the various different available expirations for HD options , LOW options , or AAL options , visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $33.50 strike call option expiring April 05, 2019 , with 21,203 contracts trading so far today, representing approximately 2.1 million underlying shares of AAL. Below is a chart showing LOW's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 52,410 contracts thus far today. That number of contracts represents approximately 5.2 million underlying shares, working out to a sizeable 72.7% of AAL's average daily trading volume over the past month, of 7.2 million shares.
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That number of contracts represents approximately 5.2 million underlying shares, working out to a sizeable 72.7% of AAL's average daily trading volume over the past month, of 7.2 million shares. Below is a chart showing LOW's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 52,410 contracts thus far today. Especially high volume was seen for the $33.50 strike call option expiring April 05, 2019 , with 21,203 contracts trading so far today, representing approximately 2.1 million underlying shares of AAL.
|
Especially high volume was seen for the $33.50 strike call option expiring April 05, 2019 , with 21,203 contracts trading so far today, representing approximately 2.1 million underlying shares of AAL. Below is a chart showing LOW's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 52,410 contracts thus far today. That number of contracts represents approximately 5.2 million underlying shares, working out to a sizeable 72.7% of AAL's average daily trading volume over the past month, of 7.2 million shares.
|
Especially high volume was seen for the $33.50 strike call option expiring April 05, 2019 , with 21,203 contracts trading so far today, representing approximately 2.1 million underlying shares of AAL. Below is a chart showing LOW's trailing twelve month trading history, with the $110 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) options are showing a volume of 52,410 contracts thus far today. That number of contracts represents approximately 5.2 million underlying shares, working out to a sizeable 72.7% of AAL's average daily trading volume over the past month, of 7.2 million shares.
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6504.0
|
2019-03-31 00:00:00 UTC
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Regulators knew before crashes that 737 MAX trim control was confusing in some conditions
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AAL
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https://www.nasdaq.com/articles/regulators-knew-crashes-737-max-trim-control-was-confusing-some-conditions-2019-03-31
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nan
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nan
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By Jamie Freed
SINGAPORE, March 29 () - U.S. and European regulators knew at least two years before a Lion Air crash that the usual method for controlling the Boeing 737 MAX's nose angle might not work in conditions similar to those in two recent disasters, a document shows.
The European Aviation and Space Agency (EASA) certified the plane as safe in part because it said additional procedures and training would "clearly explain" to pilots the "unusual" situations in which they would need to manipulate a rarely used manual wheel to control, or "trim," the plane's angle.
The undated EASA certification document, available online, was issued in February 2016, an agency spokesman said.
It specifically noted that at speeds greater than 230 knots (265mph, 425kph) with flaps retracted, pilots might have to use the wheel in the cockpit's centre console rather than an electric thumb switch on the control yoke.
EASA and the U.S. Federal Aviation Administration (FAA) ultimately determined that set-up was safe enough for the plane to be certified, with the European agency citing training plans and the relative rarity of conditions requiring the trim wheel.
In the deadly Lion Air crash in October, the pilots lost control after initially countering the Maneuvering Characteristics Augmentation System (MCAS), a new automated anti-stall feature that was pushing the nose down based on data from a faulty sensor, according to a preliminary report from Indonesian investigators released in November.
The flight conditions were similar to those described in the EASA document, a source at Lion Air said. The source said that training materials before the crash did not say the wheel could be required under those conditions but that Boeing advised the airline about it after the crash.
Boeing declined to comment on the EASA document or its advice to Lion Air, citing the ongoing investigation into the crash.
Ethiopia'sTransport Ministry, France's BEA air accident authority and the FAA have all pointed to similarities between the Lion Air crash and an Ethiopian Airlines disaster this month. But safety officials stress that the Ethiopian investigation is at an early stage.
best-selling workhorse narrowbody, now grounded globally.
In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings.
The trim system adjusts the angle of the nose. If the nose is too far up, the jet risks entering a stall.
Additional procedures and training needed to "clearly explain" when the manual wheel might be needed, according to the document. The EASA spokesman said that was a reference to the Boeing flight crew operations manual.
An American Airlines Group Inc flight manual for 737 MAX pilots dated October 2017 said the thumb switches had less ability to move the nose than the manual wheel.
The manual, which is 1,400 pages long, did not specify the flight conditions in which the wheel might be needed.
The trim wheel is a relic of the Boeing 737's 1960s origins and does not appear in more modern planes like the 787 and Airbus SE A350. It is not often used, several current and former 737 pilots told .
"It would be very unusual to use the trim wheel in flight. I have only used manual trim once in the simulator," said a 737 pilot. "It is not physically easy to make large trim changes to correct, say, an MCAS input. You - or more than likely the other pilot - have to flip out a little handle and wind, much like a boat winch."
The EASA document said that after flight testing, the FAA'sTransport Airplane Directorate, which oversees design approvals and modifications, was concerned about whether the 737 MAX system complied with regulations because the thumb switches could not control trim on their own in all conditions.
FAA declined to comment on the European document. A trim-related "equivalent level of safety" (ELOS) memorandum listed in its 737 MAX certification document is not available on the FAA website. The agency declined to provide it to .
CONFUSING SIGNALS
The night before the Lion Air crash, different pilots on the same plane faced a similar problem with MCAS and tried to use electric trim to counteract it, according to the preliminary report from Indonesian investigators.
After the third time MCAS forced the nose down, the first officer commented that the control column was "too heavy to hold back" to counter the automated movements, the preliminary report said.
Former FAA accident investigator Mike Daniel said that to prevent stalls, the control column was designed to require more force for a pilot to pull back than to push forward.
Boeing on Wednesday said software changes to MCAS would provide additional layers of protection, including making it impossible for the system to keep the flight crew from counteracting it.
On the 737 MAX, Boeing removed the "yoke jerk" function that enabled pilots to disable the automated trim system with a hard pull on the control column rather than hitting two cut-out switches on the centre console.
In a blog post on his personal website, former Boeing engineer Peter Lemme said that could make things harder for a pilot in a crisis.
"In the scenario where the stabiliser is running away nose down, the pilot may only fixate on pulling the column back in response," he said. "They may not be mentally capable to trim back or cutout the trim - instead they just keep pulling."
Ultimately the crew the evening before the Lion Air crash stopped the automated nose-down movement with the cut-out switches and used the wheel to control trim for the remainder of the flight, the preliminary report said.
That was the proper procedure to deal with a runaway stabiliser, according to Boeing.
However, current and former pilots told that the way the trim wheel and other controls behaved in practice compared with in training may have confused the Lion Air crews, who were also dealing with warnings about unreliable airspeed and altitude.
"MCAS activation produces conditions similar to a runaway trim, but the training is not done with a stick shaker active and multiple other failures, which make the diagnosis much more difficult," said John Cox, an aviation safety consultant and former commercial pilot. The stick shaker alerts pilots to a potential stall by vibrating the control column.
this month reported that an off-duty pilot in the cockpit on the night before the Lion Air crash spotted the runaway stabiliser problem, according to two sources familiar with the matter.
Boeing on Wednesday said changes to the MCAS software would help "reduce the crew's workload in non-normal flight situations."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Jamie Freed SINGAPORE, March 29 () - U.S. and European regulators knew at least two years before a Lion Air crash that the usual method for controlling the Boeing 737 MAX's nose angle might not work in conditions similar to those in two recent disasters, a document shows. EASA and the U.S. Federal Aviation Administration (FAA) ultimately determined that set-up was safe enough for the plane to be certified, with the European agency citing training plans and the relative rarity of conditions requiring the trim wheel. In the deadly Lion Air crash in October, the pilots lost control after initially countering the Maneuvering Characteristics Augmentation System (MCAS), a new automated anti-stall feature that was pushing the nose down based on data from a faulty sensor, according to a preliminary report from Indonesian investigators released in November.
|
In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. Former FAA accident investigator Mike Daniel said that to prevent stalls, the control column was designed to require more force for a pilot to pull back than to push forward. this month reported that an off-duty pilot in the cockpit on the night before the Lion Air crash spotted the runaway stabiliser problem, according to two sources familiar with the matter.
|
The European Aviation and Space Agency (EASA) certified the plane as safe in part because it said additional procedures and training would "clearly explain" to pilots the "unusual" situations in which they would need to manipulate a rarely used manual wheel to control, or "trim," the plane's angle. In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. Ultimately the crew the evening before the Lion Air crash stopped the automated nose-down movement with the cut-out switches and used the wheel to control trim for the remainder of the flight, the preliminary report said.
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The flight conditions were similar to those described in the EASA document, a source at Lion Air said. In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. The EASA spokesman said that was a reference to the Boeing flight crew operations manual.
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6505.0
|
2019-03-29 00:00:00 UTC
|
American Airlines Stock Is Poised for Liftoff After Crash Landing
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AAL
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https://www.nasdaq.com/articles/american-airlines-stock-poised-liftoff-after-crash-landing-2019-03-29
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nan
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nan
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Shares of American Airlines (NYSE:) have certainly struggled to start the year. Although the S&P 500 is off to a flying start in 2019, AAL stock is actually lower so far this year. This follows on the heels of a terrible 2018 when American Airlines stock dropped 35%. While some of the weakness is warranted due to higher fuel costs and slowing growth, the sell off has now gotten to an extreme. Time for AAL to begin to lift off.
American Airlines stock is looking attractive from a fundamental standpoint. The forward P/E multiple is now below 7 and at the lowest valaution levels of the past year. It is also at a discount to the airline industry overall P/E of 9.35. The forward P/E is even lower at only 5. Compare that to the forward P/E for the S&P 500 of 16 and AAL stock looks like a steal at these prices.
AAL stock is also looking good on a technical level. The 9-day RSI reached extremely oversold readings approaching 20 before strengthening. Prior instances when this took place marked significant intermediate term lows in AAL. MACD is also heading higher after reaching an oversold condition and is poised to generate a buy signal on any further strength.
There is major support at the $30 area. AAL stock bounced sharply off this level twice and appears to be ready to do so once again.
AAL stock is normally highly correlated to the NYSE Arca Airline Index but recently that correlation has broken down. American has been a dramatic underperformer over the recent months to the other airlines. I look for that correlation to revert back as it has in the past, with AAL becoming a relative outperformer to the airline group over the coming weeks.
Longer-term investors should look to add AAL stock to their portfolio at current levels given the attractive valuation and technical backdrop. Option traders may want to consider a long term bull call spread, buying the April $30 calls and selling the April $32 calls for a $1 net debit. Maximum risk on the trade is $100 per spread with maximum gain of $100 per spread as well if AAL closes above $32 at April expiration.
Earnings are due April 25, so the spread will expire before then and avoids any earnings related risk.
Tim Biggam may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his strategies can go to .
More From InvestorPlace
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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I look for that correlation to revert back as it has in the past, with AAL becoming a relative outperformer to the airline group over the coming weeks. Longer-term investors should look to add AAL stock to their portfolio at current levels given the attractive valuation and technical backdrop. Although the S&P 500 is off to a flying start in 2019, AAL stock is actually lower so far this year.
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AAL stock is normally highly correlated to the NYSE Arca Airline Index but recently that correlation has broken down. Although the S&P 500 is off to a flying start in 2019, AAL stock is actually lower so far this year. Time for AAL to begin to lift off.
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Although the S&P 500 is off to a flying start in 2019, AAL stock is actually lower so far this year. AAL stock is normally highly correlated to the NYSE Arca Airline Index but recently that correlation has broken down. Maximum risk on the trade is $100 per spread with maximum gain of $100 per spread as well if AAL closes above $32 at April expiration.
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AAL stock bounced sharply off this level twice and appears to be ready to do so once again. Although the S&P 500 is off to a flying start in 2019, AAL stock is actually lower so far this year. Time for AAL to begin to lift off.
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6506.0
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2019-03-29 00:00:00 UTC
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Southwest Airlines Stock Will Bottom Out Very Soon
|
AAL
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https://www.nasdaq.com/articles/southwest-airlines-stock-will-bottom-out-very-soon-2019-03-29
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It hasn’t been a great year for Southwest Airlines Co. (NYSE: ) Southwest Airlines stock has had it’s problems, but so have many airline stocks.
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Airline stocks started in a downward trend since January 2019 for an assortment of reasons. A pair of crashes from the 737 MAX made by The Boeing Company (NYSE: ) did not help matters.
Higher oil prices, which recovered and are back to the $60 per barrel level is another macro headwind that adds to costs for airlines. With this negative backdrop considered, why should investors consider ?
Southwest Airlines posted revenue growth in the single digits of 3%-4% in its latest 8-K filed a few weeks ago. This is slightly below its annual growth rate of 7.2%. To narrow the gap, the airline added a net 25 airplanes, grew its ASM (available seat miles) to 5% with half of that allocated to Hawaii. That mix should increase the firm’s market share for vacation destinations in that region.
Southwest Airlines Stock Faces Near-Term Headwinds
Market selling pressure on LUV stock accelerated since January in anticipation of weak quarterly results. Flight cancellations and an unprecedented number of write-ups that led to many out-of-service aircraft units cost the company millions of dollars weekly. These costs led to a suit against the AMFA.
Though negotiations dragged longer than desired, such near-term headwinds are temporary. Besides, in the past five years, Southwest delivered over 20% year on year in earnings growth in the past five years.
Higher oil costs may weigh on profits but energy price fluctuations are a constant unknown. As such, investors should not pay too much attention to it. Instead, investing in oil stocks to hedge against higher oil prices would help diversify the portfolio.
Boeing Issues and Southwest Airlines Stock
Regulators around the world will eventually end the grounding of the 737 MAX. Southwest is still moving forward with adding 500 more aircraft to its fleet. This will include 737 models. And despite the heavy coverage on the plane crashing with Ethiopian Airlines, Southwest believes this plane has technology advantages.
Besides, the plane’s size fits the Southwest’s needs in a medium-sized, narrow body fleet. Planes that are smaller do not have the same cost-benefit market opportunities.
As Boeing fixes issues related to the 737 and countries around the world lift restrictions, Southwest’s operations will return to normal.
Southwest Airline Stock Still Is a Buy
Southwest stands by its commitment to have Boeing MAX planes in its fleet. Combined with the company’s strong balance sheet, low levels of debt, low-cost structure and seasonal holiday traveling strength ahead, buying LUV stock at these levels presents an opportunity.
The low operating cost model is another attractive attribute for Southwest Airlines. The three cost categories are people costs, fuel, and everything else. And because people costs take up 40% of the total, well-paid staff will bring good quality services for its customers.
As the airline spends the next few years driving more traffic in foreign countries, it needs to keep its cost structure low without sacrificing on service quality.
The Bottom Line on Southwest Airline Stock
Southwest Airlines trades at an 11 times P/E, higher than that of Delta Air Lines, Inc. (NYSE: ), American Airlines Group Inc. (NYSE: ) but below that of JetBlue Airways Corporation (NASDAQ: ). Given that Southwest just reported record free cash flow last year, manageable debt, and plenty of cash, the stock is more attractive than the discount airline, JetBlue.
Delta shares would suit income investors, with the stock dividend yielding 2.85% compared to 1.3% with LUV stock. American Airlines “double-bottomed” at $30 a share and could potentially rebound alongside LUV stock.
There are 13 analysts covering LUV stock , according to Tipranks. At a recent price of around $50, LUV shares have an upside of around 22%.
Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities.
The post appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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To narrow the gap, the airline added a net 25 airplanes, grew its ASM (available seat miles) to 5% with half of that allocated to Hawaii. Flight cancellations and an unprecedented number of write-ups that led to many out-of-service aircraft units cost the company millions of dollars weekly. As the airline spends the next few years driving more traffic in foreign countries, it needs to keep its cost structure low without sacrificing on service quality.
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It hasn’t been a great year for Southwest Airlines Co. (NYSE: ) Southwest Airlines stock has had it’s problems, but so have many airline stocks. Southwest Airlines Stock Faces Near-Term Headwinds Market selling pressure on LUV stock accelerated since January in anticipation of weak quarterly results. The Bottom Line on Southwest Airline Stock Southwest Airlines trades at an 11 times P/E, higher than that of Delta Air Lines, Inc. (NYSE: ), American Airlines Group Inc. (NYSE: ) but below that of JetBlue Airways Corporation (NASDAQ: ).
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It hasn’t been a great year for Southwest Airlines Co. (NYSE: ) Southwest Airlines stock has had it’s problems, but so have many airline stocks. Southwest Airline Stock Still Is a Buy Southwest stands by its commitment to have Boeing MAX planes in its fleet. The Bottom Line on Southwest Airline Stock Southwest Airlines trades at an 11 times P/E, higher than that of Delta Air Lines, Inc. (NYSE: ), American Airlines Group Inc. (NYSE: ) but below that of JetBlue Airways Corporation (NASDAQ: ).
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It hasn’t been a great year for Southwest Airlines Co. (NYSE: ) Southwest Airlines stock has had it’s problems, but so have many airline stocks. The low operating cost model is another attractive attribute for Southwest Airlines. Delta shares would suit income investors, with the stock dividend yielding 2.85% compared to 1.3% with LUV stock.
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6507.0
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2019-03-29 00:00:00 UTC
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No call for simulators in new Boeing 737 MAX training proposals
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https://www.nasdaq.com/articles/no-call-simulators-new-boeing-737-max-training-proposals-2019-03-29
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By Eric M. Johnson, Alwyn Scott and Allison Lampert
SEATTLE/NEW YORK, March 28 () - Boeing Co said it will submit by the end of this week a training package that 737 MAX pilots are required to take before a worldwide ban can be lifted, proposing as it did before two deadly crashes that those pilots do not need time on flight simulators to safely operate the aircraft.
In making that assessment, the world's largest planemaker is doubling down on a strategy it promoted to American Airlines Group Inc and other customers years ago. Boeing told airlines their pilots could switch from the older 737NG to the new MAX without costly flight simulator training and without compromising on safety, three former Boeing employees said.
At Boeing's factory in Renton, Washington, managers told engineers working on the MAX, including its anti-stall system known as MCAS, their designs could not trigger Level C or D training designations from the U.S. Federal Aviation Administration, the three former Boeing employees and a senior industry executive with knowledge of MAX development told . Otherwise, pilots would have to spend time in simulators before flying the new planes. Instead pilots will need to complete a roughly 30-minute training program on a computer.
"Boeing said all along that we believe that we can design this new MAX with all the fuel efficiencies and design improvements over the NG and it will only require Level B training," said a former Boeing test pilot with direct knowledge of the matter, referring to an earlier iteration of the 737 jetliner.
Level B training does not involve simulators.
On Wednesday, Boeing outlined a series of changes to the MCAS system. It continues to believe existing emergency protocols allow pilots to correct a runaway stabilizer, which can be caused by a MCAS failure among other things. Boeing says its new changes give pilots more authority Graphic:
SYSTEM UNDER SCRUTINY
The amount and quality of training that Boeing and airlines provided to 737 MAX pilots is one of the issues as investigators around the world try to determine the causes of two 737 MAX crashes within five months that claimed 346 lives. All 737 MAX airliners are grounded until regulators around the world approve the new software and training protocols.
The U.S. Department of Justice is investigating Boeing's development process and what Boeing disclosed about MCAS.
A Boeing spokeswoman said the company followed industry standards and conducted thorough safety analyses in designing the MAX flight controls and other systems.
"The design and certification of the MCAS flight control law adhered to these processes and assumptions," she said.
The decisions to avoid simulator training had their roots in the company's decision under intense pressure from the aircraft market over a weekend in 2011 to change strategy and outfit an upgraded 737 with more efficient engines similar to those on the new Airbus, rather than build an all-new design.
The new 737 MAX engines had to be mounted further forward on the wing, raising the risk that the plane's nose would tilt up, threatening a stall in some situations.
MCAS was designed to automatically and powerfully push the nose down if data from an "angle of attack" sensor mounted near the front of the plane showed risk of a stall.
Former Boeing engineers who worked on MCAS said there was no pressure to compromise safety. After analyzing solutions for MCAS, Boeing's engineers chose a simpler design for solving the jet's pitch-up tendency, according to the three former Boeing employees and an industry executive with knowledge of the decision.
"It wasn't necessarily the simplest way to get around the regulations," said Mike Renzelmann, a former Boeing engineer who worked on flight controls on the 737 MAX. "It was the safest way to get around the regulations."
MCAS was just one of many so-called control laws on the 737 MAX, a few lines of code embedded into the flight control system.
"It's always a balance between complexity and availability of the function. The more complex you make something, the more likely it is to be unavailable when you need it," a Boeing official said.
LAST LINE OF DEFENSE
Boeing rated MCAS a "hazardous" risk, an FAA term that means multiple deaths could result if the system failed, the Boeing official said. That is a step below "catastrophic," which could cause loss of the plane and death of all on board.
Boeing's rationale was that trained pilots would know how to respond if MCAS failed, the official said. Long-established procedures for runaway stabilizer trim would prompt pilots to shut down MCAS, whether they knew it existed or not.
Under FAA rules, hazardous risks are allowed to happen more frequently than catastrophic ones.
One industry source familiar with plane certification said he was "astonished" that Boeing was able to gain FAA approval for the MCAS system with one angle of attack sensor and pilots as backup.
"In reality, no single device is that robust and reliable which is why there needs to be mitigations," he said.
On Wednesday, Boeing said the MCAS system would now rely on two sensors.
During nine to 12 months of MAX flight testing, test pilots injected errors into the flight system that tested stall conditions and runaway stabilizer, among other scenarios, the people said. But no one was aware of a specific test of an MCAS failure mode triggered by erroneous sensor data.
"The problem with these two accidents is that there were failure modes that people didn't analyze properly or consider they could happen that way," according to an FAA official with direct knowledge of the 737 MAX certification.
GRAPHIC: Understanding controls on the Boeing 737 MAX
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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MCAS was designed to automatically and powerfully push the nose down if data from an "angle of attack" sensor mounted near the front of the plane showed risk of a stall. One industry source familiar with plane certification said he was "astonished" that Boeing was able to gain FAA approval for the MCAS system with one angle of attack sensor and pilots as backup. "The problem with these two accidents is that there were failure modes that people didn't analyze properly or consider they could happen that way," according to an FAA official with direct knowledge of the 737 MAX certification.
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At Boeing's factory in Renton, Washington, managers told engineers working on the MAX, including its anti-stall system known as MCAS, their designs could not trigger Level C or D training designations from the U.S. Federal Aviation Administration, the three former Boeing employees and a senior industry executive with knowledge of MAX development told . "Boeing said all along that we believe that we can design this new MAX with all the fuel efficiencies and design improvements over the NG and it will only require Level B training," said a former Boeing test pilot with direct knowledge of the matter, referring to an earlier iteration of the 737 jetliner. During nine to 12 months of MAX flight testing, test pilots injected errors into the flight system that tested stall conditions and runaway stabilizer, among other scenarios, the people said.
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Boeing told airlines their pilots could switch from the older 737NG to the new MAX without costly flight simulator training and without compromising on safety, three former Boeing employees said. At Boeing's factory in Renton, Washington, managers told engineers working on the MAX, including its anti-stall system known as MCAS, their designs could not trigger Level C or D training designations from the U.S. Federal Aviation Administration, the three former Boeing employees and a senior industry executive with knowledge of MAX development told . "Boeing said all along that we believe that we can design this new MAX with all the fuel efficiencies and design improvements over the NG and it will only require Level B training," said a former Boeing test pilot with direct knowledge of the matter, referring to an earlier iteration of the 737 jetliner.
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Boeing told airlines their pilots could switch from the older 737NG to the new MAX without costly flight simulator training and without compromising on safety, three former Boeing employees said. All 737 MAX airliners are grounded until regulators around the world approve the new software and training protocols. "It wasn't necessarily the simplest way to get around the regulations," said Mike Renzelmann, a former Boeing engineer who worked on flight controls on the 737 MAX.
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6508.0
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2019-03-29 00:00:00 UTC
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Cost of Boeing groundings rises as TUI takes $200 mln-plus hit
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https://www.nasdaq.com/articles/cost-boeing-groundings-rises-tui-takes-200-mln-plus-hit-2019-03-29
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By Georgina Prodhan and David Shepardson
FRANKFURT/WASHINGTON, March 29 () - Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn of a hit to its profits as the U.S. planemaker moved to restore confidence in its best-selling model after two fatal crashes that have grounded the planes worldwide.
TUI, said it was planning for the planes to remain grounded until at least the middle of July, costing it upwards of 200 million euros ($224 million) in core profit, with "considerable uncertainty" about when the 737 MAX would return to service.
Investigators looking into the March 10Ethiopian Airlines crash have reached a preliminary conclusion that the anti-stall system was activated before the plane hit the ground, the Wall Street Journal said, citing people briefed on the matter.
Ethiopian investigators have not yet published any report and there is no proven link between the Ethiopian crash in which 157 people died and October's accident that killed 189 in Indonesia.
But a preliminary report is expected as early as next week and U.S. safety investigators have reviewed data from the "black boxes" that were aboard Ethiopian Airlines Flight 302, four people briefed on the investigation told .
The amount and quality of training that Boeing and airlines provided to 737 MAX pilots is one of the issues under scrutiny as investigators around the world try to determine the causes of the two 737 MAX crashes within five months.
The U.S. Department of Justice is investigating Boeing's development process and what Boeing disclosed about MCAS.
On Thursday, a lawsuit against Boeing was filed in Chicago federal court by the family of Jackson Musoni, a citizen of Rwanda, who died in the Ethiopian Airlines crash.
The lawsuit alleges that Boeing had defectively designed the automated flight control system. Boeing said it could not comment on the lawsuit.
GROUNDINGS
reported on Friday that U.S. and European regulators knew at least two years before the Indonesian crash that the usual method for controlling the 737 MAX's nose angle might not work in conditions similar to those in the two recent disasters, citing a document.
The European Aviation and Space Agency (EASA) certified the plane as safe in part because it said additional procedures and training would "clearly explain" to pilots the "unusual" situations in which they would need to manipulate a rarely used manual wheel to control, or "trim," the plane's angle.
Those situations, however, were not listed in the flight manual, according to a copy from American Airlines seen by . Boeing declined to comment on the EASA document.
Boeing's fastest-selling, fuel-efficient 737 MAX jet, with orders worth more than $500 billion at list prices, was grounded globally by the U.S. Federal Aviation Administration (FAA) and other regulators in the wake of the second crash.
TUI said on Friday that with no dates yet announced by Boeing for modifications of the aircraft, nor for approval of those changes by U.S. and European regulators, it was currently planning for the grounding to last until mid-July.
Other flight operators including Southwest Airlines - the world's biggest operator of 737 MAXs - United Airlines and Air Canada have also warned of hits to their business from the grounding of the planes.
TUI, which has 15 737 MAXs representing 10 percent of its fleet, said extra costs would include replacement aircraft, higher fuel costs, other disruption and negative trading impact, sending its shares down by around 10 percent.
"Should it not become clear within the coming weeks that flying the 737 MAX will resume by mid-July, TUI will need to extend the above-mentioned measures until the end of the summer season," hitting profits by another 100 million euros, it said.
Morningstar analyst Chris Higgins on Thursday reduced his estimate for how long the groundings would last to two months from three, based on details presented by Boeing of its proposed fix to the MCAS software.
"We've revised our base-case timeline for the groundings to around two months because this MCAS fix appears mature, the MCAS upgrade should only take one hour per plane, and the updates will not require significant training," he wrote in a note.
($1 = 0.8916 euros)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investigators looking into the March 10Ethiopian Airlines crash have reached a preliminary conclusion that the anti-stall system was activated before the plane hit the ground, the Wall Street Journal said, citing people briefed on the matter. reported on Friday that U.S. and European regulators knew at least two years before the Indonesian crash that the usual method for controlling the 737 MAX's nose angle might not work in conditions similar to those in the two recent disasters, citing a document. Boeing's fastest-selling, fuel-efficient 737 MAX jet, with orders worth more than $500 billion at list prices, was grounded globally by the U.S. Federal Aviation Administration (FAA) and other regulators in the wake of the second crash.
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By Georgina Prodhan and David Shepardson FRANKFURT/WASHINGTON, March 29 () - Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn of a hit to its profits as the U.S. planemaker moved to restore confidence in its best-selling model after two fatal crashes that have grounded the planes worldwide. But a preliminary report is expected as early as next week and U.S. safety investigators have reviewed data from the "black boxes" that were aboard Ethiopian Airlines Flight 302, four people briefed on the investigation told . Other flight operators including Southwest Airlines - the world's biggest operator of 737 MAXs - United Airlines and Air Canada have also warned of hits to their business from the grounding of the planes.
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By Georgina Prodhan and David Shepardson FRANKFURT/WASHINGTON, March 29 () - Anglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn of a hit to its profits as the U.S. planemaker moved to restore confidence in its best-selling model after two fatal crashes that have grounded the planes worldwide. The amount and quality of training that Boeing and airlines provided to 737 MAX pilots is one of the issues under scrutiny as investigators around the world try to determine the causes of the two 737 MAX crashes within five months. Other flight operators including Southwest Airlines - the world's biggest operator of 737 MAXs - United Airlines and Air Canada have also warned of hits to their business from the grounding of the planes.
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TUI, said it was planning for the planes to remain grounded until at least the middle of July, costing it upwards of 200 million euros ($224 million) in core profit, with "considerable uncertainty" about when the 737 MAX would return to service. Boeing said it could not comment on the lawsuit. Other flight operators including Southwest Airlines - the world's biggest operator of 737 MAXs - United Airlines and Air Canada have also warned of hits to their business from the grounding of the planes.
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6509.0
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2019-03-29 00:00:00 UTC
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Regulators knew before crashes that 737 MAX trim control was confusing in some conditions
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https://www.nasdaq.com/articles/regulators-knew-crashes-737-max-trim-control-was-confusing-some-conditions-2019-03-29
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By Jamie Freed
SINGAPORE, March 29 () - U.S. and European regulators knew at least two years before a Lion Air crash that the usual method for controlling the Boeing 737 MAX's nose angle might not work in conditions similar to those in two recent disasters, a document shows.
The European Aviation and Space Agency (EASA) certified the plane as safe in part because it said additional procedures and training would "clearly explain" to pilots the "unusual" situations in which they would need to manipulate a rarely used manual wheel to control, or "trim," the plane's angle.
The undated EASA certification document, available online, was issued in February 2016, an agency spokesman said.
It specifically noted that at speeds greater than 230 knots (265mph, 425kph) with flaps retracted, pilots might have to use the wheel in the cockpit's centre console rather than an electric thumb switch on the control yoke.
EASA and the U.S. Federal Aviation Administration (FAA) ultimately determined that set-up was safe enough for the plane to be certified, with the European agency citing training plans and the relative rarity of conditions requiring the trim wheel.
In the deadly Lion Air crash in October, the pilots lost control after initially countering the Maneuvering Characteristics Augmentation System (MCAS), a new automated anti-stall feature that was pushing the nose down based on data from a faulty sensor, according to a preliminary report from Indonesian investigators released in November.
The flight conditions were similar to those described in the EASA document, a source at Lion Air said. The source said that training materials before the crash did not say the wheel could be required under those conditions but that Boeing advised the airline about it after the crash.
Boeing declined to comment on the EASA document or its advice to Lion Air, citing the ongoing investigation into the crash.
Ethiopia'sTransport Ministry, France's BEA air accident authority and the FAA have all pointed to similarities between the Lion Air crash and an Ethiopian Airlines disaster this month. But safety officials stress that the Ethiopian investigation is at an early stage.
best-selling workhorse narrowbody, now grounded globally.
In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings.
The trim system adjusts the angle of the nose. If the nose is too far up, the jet risks entering a stall.
Additional procedures and training needed to "clearly explain" when the manual wheel might be needed, according to the document. The EASA spokesman said that was a reference to the Boeing flight crew operations manual.
An American Airlines Group Inc flight manual for 737 MAX pilots dated October 2017 said the thumb switches had less ability to move the nose than the manual wheel.
The manual, which is 1,400 pages long, did not specify the flight conditions in which the wheel might be needed.
The trim wheel is a relic of the Boeing 737's 1960s origins and does not appear in more modern planes like the 787 and Airbus SE A350. It is not often used, several current and former 737 pilots told .
"It would be very unusual to use the trim wheel in flight. I have only used manual trim once in the simulator," said a 737 pilot. "It is not physically easy to make large trim changes to correct, say, an MCAS input. You - or more than likely the other pilot - have to flip out a little handle and wind, much like a boat winch."
The EASA document said that after flight testing, the FAA'sTransport Airplane Directorate, which oversees design approvals and modifications, was concerned about whether the 737 MAX system complied with regulations because the thumb switches could not control trim on their own in all conditions.
FAA declined to comment on the European document. A trim-related "equivalent level of safety" (ELOS) memorandum listed in its 737 MAX certification document is not available on the FAA website. The agency declined to provide it to .
CONFUSING SIGNALS
The night before the Lion Air crash, different pilots on the same plane faced a similar problem with MCAS and tried to use electric trim to counteract it, according to the preliminary report from Indonesian investigators.
After the third time MCAS forced the nose down, the first officer commented that the control column was "too heavy to hold back" to counter the automated movements, the preliminary report said.
Former FAA accident investigator Mike Daniel said that to prevent stalls, the control column was designed to require more force for a pilot to pull back than to push forward.
Boeing on Wednesday said software changes to MCAS would provide additional layers of protection, including making it impossible for the system to keep the flight crew from counteracting it.
On the 737 MAX, Boeing removed the "yoke jerk" function that enabled pilots to disable the automated trim system with a hard pull on the control column rather than hitting two cut-out switches on the centre console.
In a blog post on his personal website, former Boeing engineer Peter Lemme said that could make things harder for a pilot in a crisis.
"In the scenario where the stabiliser is running away nose down, the pilot may only fixate on pulling the column back in response," he said. "They may not be mentally capable to trim back or cutout the trim - instead they just keep pulling."
Ultimately the crew the evening before the Lion Air crash stopped the automated nose-down movement with the cut-out switches and used the wheel to control trim for the remainder of the flight, the preliminary report said.
That was the proper procedure to deal with a runaway stabiliser, according to Boeing.
However, current and former pilots told that the way the trim wheel and other controls behaved in practice compared with in training may have confused the Lion Air crews, who were also dealing with warnings about unreliable airspeed and altitude.
"MCAS activation produces conditions similar to a runaway trim, but the training is not done with a stick shaker active and multiple other failures, which make the diagnosis much more difficult," said John Cox, an aviation safety consultant and former commercial pilot. The stick shaker alerts pilots to a potential stall by vibrating the control column.
this month reported that an off-duty pilot in the cockpit on the night before the Lion Air crash spotted the runaway stabiliser problem, according to two sources familiar with the matter.
Boeing on Wednesday said changes to the MCAS software would help "reduce the crew's workload in non-normal flight situations."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jamie Freed SINGAPORE, March 29 () - U.S. and European regulators knew at least two years before a Lion Air crash that the usual method for controlling the Boeing 737 MAX's nose angle might not work in conditions similar to those in two recent disasters, a document shows. EASA and the U.S. Federal Aviation Administration (FAA) ultimately determined that set-up was safe enough for the plane to be certified, with the European agency citing training plans and the relative rarity of conditions requiring the trim wheel. In the deadly Lion Air crash in October, the pilots lost control after initially countering the Maneuvering Characteristics Augmentation System (MCAS), a new automated anti-stall feature that was pushing the nose down based on data from a faulty sensor, according to a preliminary report from Indonesian investigators released in November.
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In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. Former FAA accident investigator Mike Daniel said that to prevent stalls, the control column was designed to require more force for a pilot to pull back than to push forward. this month reported that an off-duty pilot in the cockpit on the night before the Lion Air crash spotted the runaway stabiliser problem, according to two sources familiar with the matter.
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The European Aviation and Space Agency (EASA) certified the plane as safe in part because it said additional procedures and training would "clearly explain" to pilots the "unusual" situations in which they would need to manipulate a rarely used manual wheel to control, or "trim," the plane's angle. In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. Ultimately the crew the evening before the Lion Air crash stopped the automated nose-down movement with the cut-out switches and used the wheel to control trim for the remainder of the flight, the preliminary report said.
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The flight conditions were similar to those described in the EASA document, a source at Lion Air said. In the EASA document, the regulator said simulations showed the electric thumb switches could not keep the 737 MAX properly trimmed under certain conditions, including those of the Lion Air and Ethiopian Airlines crashes, according to the Indonesian preliminary report and a source with knowledge of the Ethiopian air traffic control recordings. The EASA spokesman said that was a reference to the Boeing flight crew operations manual.
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6510.0
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2019-03-28 00:00:00 UTC
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Palladium hits 5-week low as investors book profits after stellar run
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https://www.nasdaq.com/articles/palladium-hits-5-week-low-investors-book-profits-after-stellar-run-2019-03-28
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By Swati Verma
March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run.
Spot palladium fell 0.4 percent to $1,438.08 per ounce by 0756 GMT. Prices tumbled 6.3 percent on Wednesday, marking the biggest one-day percentage fall since January 2017.
"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater.
"The tightness in the market and concerns about supply side issues will keep prices elevated. But if we do see continued strength in U.S. dollar, this sell-off might extend a little bit longer."
The dollar index was trading near a two-week peak and extended gains for a third straight session against its peers, making dollar-denominated metals more expensive for holders of other currencies.
Some analysts also attributed Wednesday's sharp sell-off to comments by Anglo American Chief Executive Mark Cutifani, who said palladium was a "bubble".
The auto-catalyst metal was trading below the 55-day moving average of around $1,453 an ounce, which it breached for the first time since August in the previous session.
"Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note.
Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
Bullion touched a one-week low earlier in the session, mainly pressured by a strong dollar.
"The gold market is closely following data and how that affects the U.S. Federal Reserve," ANZ's Hynes said. "For the moment, investors are taking a wait-and-see approach."
The Fed's dovish stance and worries about an economic slowdown have kept gold prices supported above the key $1,300 an ounce level, analysts said.
"We remain cautiously optimistic on gold going forward... However, if $1,300 breaks (below) once again, stale longs might decide to throw in the towel on yet another ill-fated rally attempt," INTL FCStone's Meir said.
Silver edged 0.1 percent lower to $15.26 per ounce, while platinum rose 1.4 percent to $860.06.
Gold vs yields
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Swati Verma March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. "Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note.
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Spot palladium fell 0.4 percent to $1,438.08 per ounce by 0756 GMT. "Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note. However, if $1,300 breaks (below) once again, stale longs might decide to throw in the towel on yet another ill-fated rally attempt," INTL FCStone's Meir said.
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By Swati Verma March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
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"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. The dollar index was trading near a two-week peak and extended gains for a third straight session against its peers, making dollar-denominated metals more expensive for holders of other currencies. Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
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6511.0
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2019-03-28 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-PVH Corp, Accenture, Nielsen Holdings, Verizon
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-pvh-corp-accenture-nielsen-holdings-verizon-2019-03-28
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nan
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nan
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The Day Ahead newsletter:
The Morning News Call newsletter:
At 10:25 ET, the Dow Jones Industrial Average was up 0.33 percent at 25,711.07. The S&P 500 was up 0.43 percent at 2,817.47 and the Nasdaq Composite was up 0.50 percent at 7,681.328.
The top three S&P 500 percentage gainers:
** PVH Corp, up 17.3 pct
** Accenture Plc, up 6.4 pct
** Ralph Lauren Corp, up 4.8 pct
The top three S&P 500 percentage losers:
** Nielsen Holdings Plc, down 10.1 pct
** Lennar Corp Cl A, down 2 pct
** Verizon Communications Inc, down 1.5 pct
The top three NYSE percentage gainers:
** Planet Green Holdings Corp, up 98.2 pct
** Movado Group Inc, up 20.6 pct
** PVH Corp, up 17.3 pct
The top three NYSE percentage losers:
** American Renal Associates Holdings Inc, down 33.9 pct
** CannTrust Holdings Inc, down 15.5 pct
** Nielsen Holdings Plc, down 10.1 pct
The top three Nasdaq percentage gainers:
** Euro Tech Holdings Company Ltd, up 168.9 pct
** Tricida Inc, up 38.1 pct
** Tenax Therapeutics Inc, up 29.3 pct
The top three Nasdaq percentage losers:
** Reebonz Holding Ltd, down 39.3 pct
** Osmotica Pharmaceuticals Plc, down 39.2 pct
** Capital Product Partners Lp, down 30.3 pct
** Lululemon Athletica Inc: up 15.3 pct
Street View: Lululemon Athletica can't stop, won't stop
** Nielsen Holdings Plc: down 10.1 pct
Nielsen: Slides on report of doubt about auction
** Accenture Plc: up 6.4 pct
Accenture: Shares advance as Q2 results beat, co raises FY profit forecast
** Reebonz Holding Ltd: down 39.3 pct
Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge
** PVH Corp: up 17.3 pct
PVH:Set for best day in over 6 years on robust forecast
** Amarin Corp Plc: up 5.6 pct
Amarin rises as American Diabetes Association backs fish oil treatment
** Phio Pharmaceuticals Corp: up 7.1 pct
Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs
** American Airlines Group Inc: up 0.6 pct
American Airlines: Rises as airlines encouraged by Boeing's software update
** Fibrocell Science Inc: up 11.9 pct
Fibrocell shares rally after completion of FDA meeting
** Teva Pharmaceutical Industries Ltd: down 2.1 pct
Teva: BMO Capital Markets starts coverage with "market perform"
** Trex Company Inc: up 2.5 pct
Trex Company Inc: Stifel upgrades, says attractive entry point has arrived
** Wabco Holdings Inc: down 9.9 pct
Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival
** World Wrestling Entertainment Inc: flat
WWE: Dips as McMahon's $270 mln stock sale shopped
** Five Below Inc: up 6.3 pct
Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects
** Movado Group Inc: up 20.6 pct
Movado Group: Clocks gains after impressive Q4 results
** Seattle Genetics Inc: up 2.2 pct
Seattle Genetics: Rises on data from urothelial cancer trial
** Proteon Therapeutics Inc: down 84.2 pct
Proteon shares crash after study failure; co to evaluate options
** Pareteum Corp: up 4.7 pct
Pareteum: Gains on winning contract worth over 3.5x quarterly rev
** China Recycling Energy Corp: up 15.4 pct
China Recycling Energy: Rises on deal to build its first energy storage power station
** Sarepta Therapeutics Inc: up 1.7 pct
Sarepta: Up as interim trial data for DMD drug shows promise
** Verint Systems Inc: up 12.2 pct
Verint seeing a revival in cloud growth
** Heat Biologics Inc: up 2.5 pct
Heat Biologics: Rises after update on lung cancer drug trial
** Facebook Inc: down 0.2 pct
Facebook: Down on charges of racial discrimination in targeted housing ads
** Supernus Pharmaceuticals Inc: down 1.1 pct
Supernus: Slips after ADHD drug shows mixed results in late-stage trial
** Tenax Therapeutics Inc: up 29.3 pct
Tenax: Surges as first patient begins high blood pressure drug trial
** Qutoutiao Inc: up 0.5 pct
Qutoutiao Inc: Rises on convertible loan agreement with Alibaba
** Western Digital Corp: up 2.3 pct
RBC starts Western Digital at 'outperform', Seagate at 'sector perform'
** Jaguar Health Inc: up 12.1 pct
Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial
** EyePoint Pharmaceuticals Inc: down 19.0 pct
EyePoint Pharma: Down on discounted common stock offering
** Therapix Biosciences Ltd: down 19.9 pct
Therapix Biosciences: Falls on pricing public offering of ADSs
** American Renal Associates Holdings Inc: down 33.9 pct
American Renal: Hits record low as CFO leaves while accounting woes rise
The 11 major S&P 500 sectors:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: At 10:25 ET, the Dow Jones Industrial Average was up 0.33 percent at 25,711.07. The S&P 500 was up 0.43 percent at 2,817.47 and the Nasdaq Composite was up 0.50 percent at 7,681.328. The top three S&P 500 percentage gainers: ** PVH Corp, up 17.3 pct ** Accenture Plc, up 6.4 pct ** Ralph Lauren Corp, up 4.8 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.1 pct ** Lennar Corp Cl A, down 2 pct ** Verizon Communications Inc, down 1.5 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 98.2 pct ** Movado Group Inc, up 20.6 pct ** PVH Corp, up 17.3 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 33.9 pct ** CannTrust Holdings Inc, down 15.5 pct ** Nielsen Holdings Plc, down 10.1 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 168.9 pct ** Tricida Inc, up 38.1 pct ** Tenax Therapeutics Inc, up 29.3 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 39.3 pct ** Osmotica Pharmaceuticals Plc, down 39.2 pct ** Capital Product Partners Lp, down 30.3 pct ** Lululemon Athletica Inc: up 15.3 pct Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.1 pct Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 6.4 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 39.3 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 17.3 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corp Plc: up 5.6 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 7.1 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.6 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 11.9 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.1 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 2.5 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: flat WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.3 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 20.6 pct Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 2.2 pct Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 84.2 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 4.7 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 15.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 1.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.2 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 2.5 pct Heat Biologics: Rises after update on lung cancer drug trial ** Facebook Inc: down 0.2 pct Facebook: Down on charges of racial discrimination in targeted housing ads ** Supernus Pharmaceuticals Inc: down 1.1 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 29.3 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.5 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 2.3 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 12.1 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 19.0 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 19.9 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 33.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: At 10:25 ET, the Dow Jones Industrial Average was up 0.33 percent at 25,711.07. The S&P 500 was up 0.43 percent at 2,817.47 and the Nasdaq Composite was up 0.50 percent at 7,681.328. The top three S&P 500 percentage gainers: ** PVH Corp, up 17.3 pct ** Accenture Plc, up 6.4 pct ** Ralph Lauren Corp, up 4.8 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.1 pct ** Lennar Corp Cl A, down 2 pct ** Verizon Communications Inc, down 1.5 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 98.2 pct ** Movado Group Inc, up 20.6 pct ** PVH Corp, up 17.3 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 33.9 pct ** CannTrust Holdings Inc, down 15.5 pct ** Nielsen Holdings Plc, down 10.1 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 168.9 pct ** Tricida Inc, up 38.1 pct ** Tenax Therapeutics Inc, up 29.3 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 39.3 pct ** Osmotica Pharmaceuticals Plc, down 39.2 pct ** Capital Product Partners Lp, down 30.3 pct ** Lululemon Athletica Inc: up 15.3 pct Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.1 pct Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 6.4 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 39.3 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 17.3 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corp Plc: up 5.6 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 7.1 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.6 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 11.9 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.1 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 2.5 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: flat WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.3 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 20.6 pct Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 2.2 pct Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 84.2 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 4.7 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 15.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 1.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.2 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 2.5 pct Heat Biologics: Rises after update on lung cancer drug trial ** Facebook Inc: down 0.2 pct Facebook: Down on charges of racial discrimination in targeted housing ads ** Supernus Pharmaceuticals Inc: down 1.1 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 29.3 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.5 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 2.3 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 12.1 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 19.0 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 19.9 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 33.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: At 10:25 ET, the Dow Jones Industrial Average was up 0.33 percent at 25,711.07. The S&P 500 was up 0.43 percent at 2,817.47 and the Nasdaq Composite was up 0.50 percent at 7,681.328. The top three S&P 500 percentage gainers: ** PVH Corp, up 17.3 pct ** Accenture Plc, up 6.4 pct ** Ralph Lauren Corp, up 4.8 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.1 pct ** Lennar Corp Cl A, down 2 pct ** Verizon Communications Inc, down 1.5 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 98.2 pct ** Movado Group Inc, up 20.6 pct ** PVH Corp, up 17.3 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 33.9 pct ** CannTrust Holdings Inc, down 15.5 pct ** Nielsen Holdings Plc, down 10.1 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 168.9 pct ** Tricida Inc, up 38.1 pct ** Tenax Therapeutics Inc, up 29.3 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 39.3 pct ** Osmotica Pharmaceuticals Plc, down 39.2 pct ** Capital Product Partners Lp, down 30.3 pct ** Lululemon Athletica Inc: up 15.3 pct Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.1 pct Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 6.4 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 39.3 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 17.3 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corp Plc: up 5.6 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 7.1 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.6 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 11.9 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.1 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 2.5 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: flat WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.3 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 20.6 pct Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 2.2 pct Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 84.2 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 4.7 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 15.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 1.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.2 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 2.5 pct Heat Biologics: Rises after update on lung cancer drug trial ** Facebook Inc: down 0.2 pct Facebook: Down on charges of racial discrimination in targeted housing ads ** Supernus Pharmaceuticals Inc: down 1.1 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 29.3 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.5 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 2.3 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 12.1 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 19.0 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 19.9 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 33.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: At 10:25 ET, the Dow Jones Industrial Average was up 0.33 percent at 25,711.07. The S&P 500 was up 0.43 percent at 2,817.47 and the Nasdaq Composite was up 0.50 percent at 7,681.328. The top three S&P 500 percentage gainers: ** PVH Corp, up 17.3 pct ** Accenture Plc, up 6.4 pct ** Ralph Lauren Corp, up 4.8 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.1 pct ** Lennar Corp Cl A, down 2 pct ** Verizon Communications Inc, down 1.5 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 98.2 pct ** Movado Group Inc, up 20.6 pct ** PVH Corp, up 17.3 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 33.9 pct ** CannTrust Holdings Inc, down 15.5 pct ** Nielsen Holdings Plc, down 10.1 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 168.9 pct ** Tricida Inc, up 38.1 pct ** Tenax Therapeutics Inc, up 29.3 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 39.3 pct ** Osmotica Pharmaceuticals Plc, down 39.2 pct ** Capital Product Partners Lp, down 30.3 pct ** Lululemon Athletica Inc: up 15.3 pct Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.1 pct Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 6.4 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 39.3 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 17.3 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corp Plc: up 5.6 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 7.1 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.6 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 11.9 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.1 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 2.5 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: flat WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.3 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 20.6 pct Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 2.2 pct Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 84.2 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 4.7 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 15.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 1.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.2 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 2.5 pct Heat Biologics: Rises after update on lung cancer drug trial ** Facebook Inc: down 0.2 pct Facebook: Down on charges of racial discrimination in targeted housing ads ** Supernus Pharmaceuticals Inc: down 1.1 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 29.3 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.5 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 2.3 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 12.1 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 19.0 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 19.9 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 33.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6512.0
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2019-03-28 00:00:00 UTC
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PRECIOUS-Palladium hits 5-week low as investors book profits after stellar run
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AAL
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https://www.nasdaq.com/articles/precious-palladium-hits-5-week-low-investors-book-profits-after-stellar-run-2019-03-28
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nan
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nan
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* Spot gold hits 1-week low
* Palladium drops to $1,433.38/oz, lowest since Feb. 18
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices)
By Swati Verma
March 28 (Reuters) - Palladium prices fell to a more than5-week low on Thursday, a day after posting its steepest declinein over two years, as concerns about the global economy and abuoyant dollar prompted investors to take profits.
Spot palladium XPD= fell 0.7 percent to $1,433.88 perounce at 0356 GMT. Prices tumbled 6.3 percent on Wednesday,marking the biggest one-day percentage fall since January 2017.
The metal, used extensively in the making of catalyticconverters in vehicles, has already shed about $187 from arecord peak of $1,620.52 hit last week.
"With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat worries about demand have emerged amid tight supplies.
"The tightness in the market and concerns about supply sideissues will keep prices elevated. But if we do see continuedstrength in U.S. dollar, this sell-off might extend a little bitlonger."
The dollar index .DXY was trading near a two-week peak andextended gains for a third straight session against its peers,making dollar-denominated metals more expensive for holders ofother currencies.
The auto-catalyst metal was trading below the 55-day movingaverage of around $1,453 an ounce, which it breached for thefirst time since August on Wednesday.
"Given the extent of the technical damage, we suspect thatpalladium prices will likely push somewhat lower over the daysahead as a consolidation range starts to get carved out," INTLFCStone analyst Edward Meir wrote in a note.
Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble".
Spot gold prices XAU= on the other hand were steady at$1,309.71 per ounce. Bullion touched a one-week low earlier inthe session, mainly pressured by a strong dollar.
U.S. gold futures GCcv1 were down 0.1 percent to $1,308.70an ounce.
"The uncertainties around the macro backdrop have elicitedsome strength to the U.S. dollar," ANZ's Hynes said. "The goldmarket is closely following data in the short term and how thataffects the U.S. Federal Reserve."
The U.S. economy faces "notable" risks and the Fed can takea wait-and-see approach to monetary policy, Kansas City FederalReserve Bank President Esther George said on Wednesday.
Silver XAG= edged 0.1 percent higher at $15.29 per ounce,while platinum XPT= rose 0.7 percent to $853.80.
(Reporting by Swati Verma in Bengaluru; Editing by ShreejaySinha) ((Swati.Verma@thomsonreuters.com; within U.S. +1 651 848 5832,outside U.S. +91 80 6749 6356/1298 ; Reuters Messaging:swati.verma.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat worries about demand have emerged amid tight supplies. "Given the extent of the technical damage, we suspect thatpalladium prices will likely push somewhat lower over the daysahead as a consolidation range starts to get carved out," INTLFCStone analyst Edward Meir wrote in a note.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium drops to $1,433.38/oz, lowest since Feb. 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices) By Swati Verma March 28 (Reuters) - Palladium prices fell to a more than5-week low on Thursday, a day after posting its steepest declinein over two years, as concerns about the global economy and abuoyant dollar prompted investors to take profits. Spot palladium XPD= fell 0.7 percent to $1,433.88 perounce at 0356 GMT.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium drops to $1,433.38/oz, lowest since Feb. 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices) By Swati Verma March 28 (Reuters) - Palladium prices fell to a more than5-week low on Thursday, a day after posting its steepest declinein over two years, as concerns about the global economy and abuoyant dollar prompted investors to take profits. "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat worries about demand have emerged amid tight supplies.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". Spot palladium XPD= fell 0.7 percent to $1,433.88 perounce at 0356 GMT. "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat worries about demand have emerged amid tight supplies.
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6513.0
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2019-03-28 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-PVH Corp, Movado Group, Lululemon Athletica, Proteon Therapeutics
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-pvh-corp-movado-group-lululemon-athletica-proteon-therapeutics-2019-03-28
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nan
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nan
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The Day Ahead newsletter:
The Morning News Call newsletter:
Wall Street's main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth.
At 9:19 ET, Dow e-minis were up 0.09 percent at 25,684. S&P 500 e-minis were up 0.06 percent at 2,812.25, while Nasdaq 100 e-minis were up 0.02 percent at 7,336.25.
The top three NYSE percentage gainers premarket:
** Movado Group, up 14.9 pct
** PVH Corp, up 11.4 pct
** Dean Foods Co, up 5.1 pct
The top three NYSE percentage losers premarket:
** American Renal Associates Holdings Inc, down 18.6 pct
** CannTrust Holdings Inc, down 12.8 pct
The top three Nasdaq percentage gainers premarket:
** Euro Tech Holdings Company Ltd, up 121.3 pct
** Tenax Therapeutics Inc, up 24.3 pct
** Enlivex Therapeutics Ltd, up 21.5 pct
The top three Nasdaq percentage losers premarket:
** Proteon Therapeutics Inc, down 81.9 pct
** Capital Product Partners Lp, down 32.3 pct
** Reebonz Holding Ltd, down 26.8 pct
** Lululemon Athletica Inc: up 14.9 pct premarket
Street View: Lululemon Athletica can't stop, won't stop
** Nielsen Holdings Plc: down 9.1 pct premarket
Nielsen: Slides on report of doubt about auction
** Accenture Plc: up 3.1 pct premarket
Accenture: Shares advance as Q2 results beat, co raises FY profit forecast
** Reebonz Holding Ltd: down 26.8 pct premarket
Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge
** PVH Corp: up 11.4 pct premarket
PVH: Shares jump as Tommy Hilfiger drives 2019 forecast
** Amarin Corporation Plc: up 8.7 pct premarket
Amarin rises as American Diabetes Association backs fish oil treatment
** Phio Pharmaceuticals Corp: up 11.7 pct premarket
Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs
** American Airlines Group Inc: up 0.4 pct premarket
American Airlines: Rises as airlines encouraged by Boeing's software update
** Fibrocell Science Inc: up 1.6 pct premarket
Fibrocell shares rally after completion of FDA meeting
** Teva Pharmaceutical Industries Ltd: down 0.4 pct premarket
Teva: BMO Capital Markets starts coverage with "market perform"
** Trex Company Inc: up 1.6 pct premarket
Trex Company Inc: Stifel upgrades, says attractive entry point has arrived
** Wabco Holdings Inc: down 10.3 pct premarket
Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival
** Microsoft Corp: up 0.4 pct premarket
JPM sees Microsoft reaccelerating, healthy demand for Azure
** World Wrestling Entertainment Inc: down 0.4 pct premarket
WWE: Dips as McMahon's $270 mln stock sale shopped
** Five Below Inc: up 6.9 pct premarket
Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects
** Movado Group Inc: up 14.9 pct premarket
Movado Group: Clocks gains after impressive Q4 results
** Seattle Genetics Inc: up 3.8 pct premarket
Seattle Genetics: Rises on data from urothelial cancer trial
** Proteon Therapeutics Inc: down 81.9 pct premarket
Proteon shares crash after study failure; co to evaluate options
** Pareteum Corp: up 9.0 pct premarket
Pareteum: Gains on winning contract worth over 3.5x quarterly rev
** China Recycling Energy Corp: up 5.0 pct premarket
China Recycling Energy: Rises on deal to build its first energy storage power station
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth. At 9:19 ET, Dow e-minis were up 0.09 percent at 25,684. The top three NYSE percentage gainers premarket: ** Movado Group, up 14.9 pct ** PVH Corp, up 11.4 pct ** Dean Foods Co, up 5.1 pct The top three NYSE percentage losers premarket: ** American Renal Associates Holdings Inc, down 18.6 pct ** CannTrust Holdings Inc, down 12.8 pct The top three Nasdaq percentage gainers premarket: ** Euro Tech Holdings Company Ltd, up 121.3 pct ** Tenax Therapeutics Inc, up 24.3 pct ** Enlivex Therapeutics Ltd, up 21.5 pct The top three Nasdaq percentage losers premarket: ** Proteon Therapeutics Inc, down 81.9 pct ** Capital Product Partners Lp, down 32.3 pct ** Reebonz Holding Ltd, down 26.8 pct ** Lululemon Athletica Inc: up 14.9 pct premarket Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 9.1 pct premarket Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 3.1 pct premarket Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 26.8 pct premarket Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 11.4 pct premarket PVH: Shares jump as Tommy Hilfiger drives 2019 forecast ** Amarin Corporation Plc: up 8.7 pct premarket Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 11.7 pct premarket Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.4 pct premarket American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 1.6 pct premarket Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 0.4 pct premarket Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 1.6 pct premarket Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 10.3 pct premarket Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** Microsoft Corp: up 0.4 pct premarket JPM sees Microsoft reaccelerating, healthy demand for Azure ** World Wrestling Entertainment Inc: down 0.4 pct premarket WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.9 pct premarket Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 14.9 pct premarket Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 3.8 pct premarket Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 81.9 pct premarket Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 9.0 pct premarket Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 5.0 pct premarket China Recycling Energy: Rises on deal to build its first energy storage power station The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth. S&P 500 e-minis were up 0.06 percent at 2,812.25, while Nasdaq 100 e-minis were up 0.02 percent at 7,336.25. The top three NYSE percentage gainers premarket: ** Movado Group, up 14.9 pct ** PVH Corp, up 11.4 pct ** Dean Foods Co, up 5.1 pct The top three NYSE percentage losers premarket: ** American Renal Associates Holdings Inc, down 18.6 pct ** CannTrust Holdings Inc, down 12.8 pct The top three Nasdaq percentage gainers premarket: ** Euro Tech Holdings Company Ltd, up 121.3 pct ** Tenax Therapeutics Inc, up 24.3 pct ** Enlivex Therapeutics Ltd, up 21.5 pct The top three Nasdaq percentage losers premarket: ** Proteon Therapeutics Inc, down 81.9 pct ** Capital Product Partners Lp, down 32.3 pct ** Reebonz Holding Ltd, down 26.8 pct ** Lululemon Athletica Inc: up 14.9 pct premarket Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 9.1 pct premarket Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 3.1 pct premarket Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 26.8 pct premarket Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 11.4 pct premarket PVH: Shares jump as Tommy Hilfiger drives 2019 forecast ** Amarin Corporation Plc: up 8.7 pct premarket Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 11.7 pct premarket Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.4 pct premarket American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 1.6 pct premarket Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 0.4 pct premarket Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 1.6 pct premarket Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 10.3 pct premarket Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** Microsoft Corp: up 0.4 pct premarket JPM sees Microsoft reaccelerating, healthy demand for Azure ** World Wrestling Entertainment Inc: down 0.4 pct premarket WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.9 pct premarket Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 14.9 pct premarket Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 3.8 pct premarket Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 81.9 pct premarket Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 9.0 pct premarket Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 5.0 pct premarket China Recycling Energy: Rises on deal to build its first energy storage power station The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth. S&P 500 e-minis were up 0.06 percent at 2,812.25, while Nasdaq 100 e-minis were up 0.02 percent at 7,336.25. The top three NYSE percentage gainers premarket: ** Movado Group, up 14.9 pct ** PVH Corp, up 11.4 pct ** Dean Foods Co, up 5.1 pct The top three NYSE percentage losers premarket: ** American Renal Associates Holdings Inc, down 18.6 pct ** CannTrust Holdings Inc, down 12.8 pct The top three Nasdaq percentage gainers premarket: ** Euro Tech Holdings Company Ltd, up 121.3 pct ** Tenax Therapeutics Inc, up 24.3 pct ** Enlivex Therapeutics Ltd, up 21.5 pct The top three Nasdaq percentage losers premarket: ** Proteon Therapeutics Inc, down 81.9 pct ** Capital Product Partners Lp, down 32.3 pct ** Reebonz Holding Ltd, down 26.8 pct ** Lululemon Athletica Inc: up 14.9 pct premarket Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 9.1 pct premarket Nielsen: Slides on report of doubt about auction ** Accenture Plc: up 3.1 pct premarket Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 26.8 pct premarket Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 11.4 pct premarket PVH: Shares jump as Tommy Hilfiger drives 2019 forecast ** Amarin Corporation Plc: up 8.7 pct premarket Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 11.7 pct premarket Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: up 0.4 pct premarket American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 1.6 pct premarket Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 0.4 pct premarket Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 1.6 pct premarket Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 10.3 pct premarket Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** Microsoft Corp: up 0.4 pct premarket JPM sees Microsoft reaccelerating, healthy demand for Azure ** World Wrestling Entertainment Inc: down 0.4 pct premarket WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 6.9 pct premarket Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 14.9 pct premarket Movado Group: Clocks gains after impressive Q4 results ** Seattle Genetics Inc: up 3.8 pct premarket Seattle Genetics: Rises on data from urothelial cancer trial ** Proteon Therapeutics Inc: down 81.9 pct premarket Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 9.0 pct premarket Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 5.0 pct premarket China Recycling Energy: Rises on deal to build its first energy storage power station The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes were set for a subdued opening on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth. At 9:19 ET, Dow e-minis were up 0.09 percent at 25,684. S&P 500 e-minis were up 0.06 percent at 2,812.25, while Nasdaq 100 e-minis were up 0.02 percent at 7,336.25.
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6514.0
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2019-03-28 00:00:00 UTC
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PRECIOUS-Palladium slumps 6 pct as slide from record high gathers steam
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AAL
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https://www.nasdaq.com/articles/precious-palladium-slumps-6-pct-slide-record-high-gathers-steam-2019-03-28
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nan
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nan
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* Palladium hits low of $1,356.75/oz, weakest since Feb. 4
* Prices now down more than $250/oz from last week's recordhigh
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comment)
March 28 (Reuters) - Palladium fell nearly 6 percent onThursday, extending the previous day's sharp losses as concernsthat an economic slowdown could dent demand and a weak technicalpicture pushed investors to book profits after a record run.
Spot palladium XPD= fell 5.5 percent to $1,364 per ounceby 1347 GMT, having earlier hit a seven-week low of $1,356.75.
The autocatalyst metal marked its biggest daily percentageloss in over two years in the last session, with pricesplummeting 6.3 percent as investors booked profits.
"(The price rally) has been very speculative-driven and withthe technical outlook changing somewhat after the break below$1,500, we're seeing the speculative interest being reduced,"said Saxo Bank analyst Ole Hansen.
"From a technical perspective, the next major level isanother $100 lower at $1,316," he added.
Palladium has shed more than $250 since scaling a recordpeak of $1,620.52 an ounce last week. It breached its 55-daymoving average at around $1,452 an ounce for the first timesince August on Wednesday.
"With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said.
He added however that while worries about demand hademerged, supply constraints remained greater.
Remarks by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble", also led topalladium's sharp sell-off, analysts said.
Meanwhile, spot gold prices XAU= dipped 1.4 percent at$1,291.84 per ounce, falling below the key $1,300 level, mainlyon a firm dollar. Prices touched a more than two-week lowearlier in the session.
U.S. gold futures GCcv1 were down 1.3 percent at $1,293.80an ounce.
"The lack of a bullish tailwind following last week'suber-dovish Federal Open Market Committee statement and thesubsequent drop in bond yields are short-term concerns," SaxoBank's Hansen said.
"With the uptrend from early March and the 50-day movingaverage both broken, the risk of a deeper correction hasemerged."
Prices broke below the 50-day moving average at about$1,307. Speculators who trade on technical signals regard abreak below key moving averages as a bearish sign.
The dollar rose as rival currencies struggled following moredovish indications from central banks, making dollar-denominatedmetals more expensive for holders of other currencies. USD/
INTL FCStone said in a note that a breach of $1,300 couldprompt those holding long positions, or bets on higher prices,to exit the market.
Silver XAG= edged 1.5 percent lower to $15.05 per ounce,while platinum XPT= fell 1.6 percent to $834.64. (Reporting by Sumita Layek and Swati Verma in Bengaluru;Editing by Jan Harvey) ((Sumita.Layek@thomsonreuters.com; Within U.S. +1 651 848 5832,Outside U.S. +91 8067491638; Reuters Messaging:Sumita.Layek.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Remarks by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble", also led topalladium's sharp sell-off, analysts said. * Palladium hits low of $1,356.75/oz, weakest since Feb. 4 * Prices now down more than $250/oz from last week's recordhigh * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comment) March 28 (Reuters) - Palladium fell nearly 6 percent onThursday, extending the previous day's sharp losses as concernsthat an economic slowdown could dent demand and a weak technicalpicture pushed investors to book profits after a record run. "(The price rally) has been very speculative-driven and withthe technical outlook changing somewhat after the break below$1,500, we're seeing the speculative interest being reduced,"said Saxo Bank analyst Ole Hansen.
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Remarks by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble", also led topalladium's sharp sell-off, analysts said. * Palladium hits low of $1,356.75/oz, weakest since Feb. 4 * Prices now down more than $250/oz from last week's recordhigh * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comment) March 28 (Reuters) - Palladium fell nearly 6 percent onThursday, extending the previous day's sharp losses as concernsthat an economic slowdown could dent demand and a weak technicalpicture pushed investors to book profits after a record run. Spot palladium XPD= fell 5.5 percent to $1,364 per ounceby 1347 GMT, having earlier hit a seven-week low of $1,356.75.
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Remarks by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble", also led topalladium's sharp sell-off, analysts said. * Palladium hits low of $1,356.75/oz, weakest since Feb. 4 * Prices now down more than $250/oz from last week's recordhigh * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comment) March 28 (Reuters) - Palladium fell nearly 6 percent onThursday, extending the previous day's sharp losses as concernsthat an economic slowdown could dent demand and a weak technicalpicture pushed investors to book profits after a record run. Meanwhile, spot gold prices XAU= dipped 1.4 percent at$1,291.84 per ounce, falling below the key $1,300 level, mainlyon a firm dollar.
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Remarks by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble", also led topalladium's sharp sell-off, analysts said. * Palladium hits low of $1,356.75/oz, weakest since Feb. 4 * Prices now down more than $250/oz from last week's recordhigh * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comment) March 28 (Reuters) - Palladium fell nearly 6 percent onThursday, extending the previous day's sharp losses as concernsthat an economic slowdown could dent demand and a weak technicalpicture pushed investors to book profits after a record run. Meanwhile, spot gold prices XAU= dipped 1.4 percent at$1,291.84 per ounce, falling below the key $1,300 level, mainlyon a firm dollar.
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6515.0
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2019-03-28 00:00:00 UTC
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Palladium extends losses, hits 5-wk low as investors book profits
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AAL
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https://www.nasdaq.com/articles/palladium-extends-losses-hits-5-wk-low-investors-book-profits-2019-03-28
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nan
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nan
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By Swati Verma
March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run.
Spot palladium fell 0.4 percent to $1,438.08 per ounce by 0756 GMT. Prices tumbled 6.3 percent on Wednesday, marking the biggest one-day percentage fall since January 2017.
"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater.
"The tightness in the market and concerns about supply side issues will keep prices elevated. But if we do see continued strength in U.S. dollar, this sell-off might extend a little bit longer."
The dollar index was trading near a two-week peak and extended gains for a third straight session against its peers, making dollar-denominated metals more expensive for holders of other currencies.
Some analysts also attributed Wednesday's sharp sell-off to comments by Anglo American Chief Executive Mark Cutifani, who said palladium was a "bubble".
The auto-catalyst metal was trading below the 55-day moving average of around $1,453 an ounce, which it breached for the first time since August in the previous session.
"Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note.
Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
Bullion touched a one-week low earlier in the session, mainly pressured by a strong dollar.
"The gold market is closely following data and how that affects the U.S. Federal Reserve," ANZ's Hynes said. "For the moment, investors are taking a wait-and-see approach."
The Fed's dovish stance and worries about an economic slowdown have kept gold prices supported above the key $1,300 an ounce level, analysts said.
"We remain cautiously optimistic on gold going forward... However, if $1,300 breaks (below) once again, stale longs might decide to throw in the towel on yet another ill-fated rally attempt," INTL FCStone's Meir said.
Silver edged 0.1 percent lower to $15.26 per ounce, while platinum rose 1.4 percent to $860.06.
Gold vs yields
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Swati Verma March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. "Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note.
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Spot palladium fell 0.4 percent to $1,438.08 per ounce by 0756 GMT. "Given the extent of the technical damage, we suspect that palladium prices will likely push somewhat lower over the days ahead as a consolidation range starts to get carved out," INTL FCStone analyst Edward Meir wrote in a note. However, if $1,300 breaks (below) once again, stale longs might decide to throw in the towel on yet another ill-fated rally attempt," INTL FCStone's Meir said.
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By Swati Verma March 28 () - Palladium fell to a more than five-week low on Thursday, a day after posting its steepest decline in over two years, as concerns about the global economy and a buoyant dollar prompted investors to take profit after a recent record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
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"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said, adding while worries about demand had emerged, supply constraints remained greater. The dollar index was trading near a two-week peak and extended gains for a third straight session against its peers, making dollar-denominated metals more expensive for holders of other currencies. Spot gold prices on the other hand were steady at $1,309.88 per ounce, while U.S. gold futures were down 0.1 percent at $1,308.70 an ounce.
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6516.0
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2019-03-28 00:00:00 UTC
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PRECIOUS-Palladium extends losses, hits 5-wk low as investors book profits
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AAL
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https://www.nasdaq.com/articles/precious-palladium-extends-losses-hits-5-wk-low-investors-book-profits-2019-03-28
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nan
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nan
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* Spot gold hits 1-week low
* Palladium hits session low of $1,430.69/oz, lowest sinceFeb. 18
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices)
By Swati Verma
March 28 (Reuters) - Palladium prices fell to a more thanfive-week low on Thursday, a day after posting their steepestdecline in over two years, as concerns about the global economyand a buoyant dollar prompted investors to take profits.
Spot palladium XPD= fell 0.5 percent to $1,436.26 perounce at 0541 GMT. Prices tumbled 6.3 percent on Wednesday,marking the biggest one-day percentage fall since January 2017.
The metal, used extensively in the making of catalyticconverters in vehicles, has already shed about $190 from arecord peak of $1,620.52 an ounce hit last week.
"With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat while worries about demand have emerged, supply constraintsremain greater.
"The tightness in the market and concerns about supply sideissues will keep prices elevated. But if we do see continuedstrength in U.S. dollar, this sell-off might extend a little bitlonger."
The dollar index .DXY was trading near a two-week peak andextended gains for a third straight session against its peers,making dollar-denominated metals more expensive for holders ofother currencies.
Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble".
The auto-catalyst metal was trading below the 55-day movingaverage of around $1,453 an ounce, which it breached for thefirst time since August on Wednesday.
"Given the extent of the technical damage, we suspect thatpalladium prices will likely push somewhat lower over the daysahead as a consolidation range starts to get carved out," INTLFCStone analyst Edward Meir wrote in a note.
Spot gold prices XAU= on the other hand was little changedat $1,311.29 per ounce. Bullion touched a one-week low earlierin the session, mainly pressured by a strong dollar.
U.S. gold futures GCcv1 were steady at $1,310.10 an ounce.
"The uncertainties around the macro backdrop have elicitedsome strength to the U.S. dollar," ANZ's Hynes said. "The goldmarket is closely following data in the short term and how thataffects the U.S. Federal Reserve."
Silver XAG= edged 0.1 percent higher to $15.30 per ounce,while platinum XPT= rose 1 percent to $856.29.
(Reporting by Swati Verma in Bengaluru; Editing by ShreejaySinha and Rashmi Aich) ((Swati.Verma@thomsonreuters.com; within U.S. +1 651 848 5832,outside U.S. +91 80 6749 6356/1298 ; Reuters Messaging:swati.verma.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingthat while worries about demand have emerged, supply constraintsremain greater. The dollar index .DXY was trading near a two-week peak andextended gains for a third straight session against its peers,making dollar-denominated metals more expensive for holders ofother currencies.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium hits session low of $1,430.69/oz, lowest sinceFeb. 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices) By Swati Verma March 28 (Reuters) - Palladium prices fell to a more thanfive-week low on Thursday, a day after posting their steepestdecline in over two years, as concerns about the global economyand a buoyant dollar prompted investors to take profits.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium hits session low of $1,430.69/oz, lowest sinceFeb. 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices) By Swati Verma March 28 (Reuters) - Palladium prices fell to a more thanfive-week low on Thursday, a day after posting their steepestdecline in over two years, as concerns about the global economyand a buoyant dollar prompted investors to take profits.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium hits session low of $1,430.69/oz, lowest sinceFeb. Spot palladium XPD= fell 0.5 percent to $1,436.26 perounce at 0541 GMT.
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6517.0
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2019-03-28 00:00:00 UTC
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Palladium slumps 6 pct as slide from record high gathers steam
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AAL
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https://www.nasdaq.com/articles/palladium-slumps-6-pct-slide-record-high-gathers-steam-2019-03-28
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nan
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nan
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By Sumita Layek
March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run.
Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75.
"(The price rally) has been very speculative-driven and with the technical outlook changing somewhat after the break below $1,500, we're seeing the speculative interest being reduced," said Saxo Bank analyst Ole Hansen.
"From a technical perspective, the next major level is another $100 lower at $1,316," he added.
Palladium has shed more than $250 since scaling a record peak of $1,620.52 an ounce last week. It breached its 55-day moving average at around $1,452 an ounce for the first time since August on Wednesday.
"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said.
He added however that while worries about demand had emerged, supply constraints remained greater.
Remarks by Anglo American Chief Executive Mark Cutifani, who said palladium was a "bubble", also led to palladium's sharp sell-off, analysts said.
Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar. Prices touched a more than two-week low earlier in the session.
U.S. gold futures were down 1.3 percent at $1,293.80 an ounce.
"The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
"With the uptrend from early March and the 50-day moving average both broken, the risk of a deeper correction has emerged."
Prices broke below the 50-day moving average at about $1,307. Speculators who trade on technical signals regard a break below key moving averages as a bearish sign.
The dollar rose as rival currencies struggled following more dovish indications from central banks, making dollar-denominated metals more expensive for holders of other currencies.
INTL FCStone said in a note that a breach of $1,300 could prompt those holding long positions, or bets on higher prices, to exit the market.
Silver edged 1.5 percent lower to $15.05 per ounce, while platinum fell 1.6 percent to $834.64.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Sumita Layek March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said. "The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
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Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar. "The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
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By Sumita Layek March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run. Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar.
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Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. "(The price rally) has been very speculative-driven and with the technical outlook changing somewhat after the break below $1,500, we're seeing the speculative interest being reduced," said Saxo Bank analyst Ole Hansen. "From a technical perspective, the next major level is another $100 lower at $1,316," he added.
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6518.0
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2019-03-28 00:00:00 UTC
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Palladium falls 2 pct to six-week low, sliding further from record
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AAL
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https://www.nasdaq.com/articles/palladium-falls-2-pct-six-week-low-sliding-further-record-2019-03-28
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nan
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nan
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By Sumita Layek
March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run.
Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75.
"(The price rally) has been very speculative-driven and with the technical outlook changing somewhat after the break below $1,500, we're seeing the speculative interest being reduced," said Saxo Bank analyst Ole Hansen.
"From a technical perspective, the next major level is another $100 lower at $1,316," he added.
Palladium has shed more than $250 since scaling a record peak of $1,620.52 an ounce last week. It breached its 55-day moving average at around $1,452 an ounce for the first time since August on Wednesday.
"With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said.
He added however that while worries about demand had emerged, supply constraints remained greater.
Remarks by Anglo American Chief Executive Mark Cutifani, who said palladium was a "bubble", also led to palladium's sharp sell-off, analysts said.
Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar. Prices touched a more than two-week low earlier in the session.
U.S. gold futures were down 1.3 percent at $1,293.80 an ounce.
"The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
"With the uptrend from early March and the 50-day moving average both broken, the risk of a deeper correction has emerged."
Prices broke below the 50-day moving average at about $1,307. Speculators who trade on technical signals regard a break below key moving averages as a bearish sign.
The dollar rose as rival currencies struggled following more dovish indications from central banks, making dollar-denominated metals more expensive for holders of other currencies.
INTL FCStone said in a note that a breach of $1,300 could prompt those holding long positions, or bets on higher prices, to exit the market.
Silver edged 1.5 percent lower to $15.05 per ounce, while platinum fell 1.6 percent to $834.64.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Sumita Layek March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run. "With the concerns around economic growth and a stronger dollar, investors took profits after the strong rally we've had in the past few weeks," ANZ analyst Daniel Hynes said. "The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
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Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar. "The lack of a bullish tailwind following last week's uber-dovish Federal Open Market Committee statement and the subsequent drop in bond yields are short-term concerns," Saxo Bank's Hansen said.
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By Sumita Layek March 28 () - Palladium fell nearly 6 percent on Thursday, extending the previous day's sharp losses as concerns that an economic slowdown could dent demand and a weak technical picture pushed investors to book profits after a record run. Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. Meanwhile, spot gold prices dipped 1.4 percent at $1,291.84 per ounce, falling below the key $1,300 level, mainly on a firm dollar.
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Spot palladium fell 5.5 percent to $1,364 per ounce by 1347 GMT, having earlier hit a seven-week low of $1,356.75. "(The price rally) has been very speculative-driven and with the technical outlook changing somewhat after the break below $1,500, we're seeing the speculative interest being reduced," said Saxo Bank analyst Ole Hansen. "From a technical perspective, the next major level is another $100 lower at $1,316," he added.
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6519.0
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2019-03-28 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-PVH Corp, Accenture, Nielsen Holdings, Verizon Communications, Lululemon Athletica
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-pvh-corp-accenture-nielsen-holdings-verizon-communications-lululemon
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nan
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nan
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The Day Ahead newsletter:
The Morning News Call newsletter:
Wall Street's main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth.
The top three S&P 500 percentage gainers:
** PVH Corp, up 15.5 pct
** Accenture Plc, up 4.7 pct
** Ralph Lauren Corp, up 4.3 pct
The top three S&P 500 percentage losers:
** Nielsen Holdings Plc, down 10.3 pct
** Verizon Communications Inc, down 3.3 pct
** Lennar Corp, down 2.8 pct
The top three NYSE percentage gainers:
** Planet Green Holdings Corp, up 59.5 pct
** Movado Group Inc, up 19.1 pct
** PVH Corp, up 15.5 pct
The top three NYSE percentage losers:
** American Renal Associates Holdings Inc, down 36.9 pct
** CannTrust Holdings Inc, down 15.8 pct
** Nielsen Holdings Plc, down 10.3 pct
The top three Nasdaq percentage gainers:
** Euro Tech Holdings Company Ltd, up 144 pct
** Tricida Inc, up 44.2 pct
** China Internet Nationwide Financial Services Inc, up 40.1 pct
The top three Nasdaq percentage losers:
** Reebonz Holding Ltd, down 44 pct
** Osmotica Pharmaceuticals Plc, down 35.8 pct
** Capital Product Partners Lp, down 34 pct
** Lululemon Athletica Inc: up 15.6 pct
Lululemon hits record high after blowout forecast
Street View: Lululemon Athletica can't stop, won't stop
** Nielsen Holdings Plc: down 10.4 pct
Nielsen: Slides to "failed transaction" value on doubts about auction
** Accenture Plc: up 4.7 pct
Accenture: Shares advance as Q2 results beat, co raises FY profit forecast
** Reebonz Holding Ltd: down 44.0 pct
Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge
** PVH Corp: up 15.5 pct
PVH:Set for best day in over 6 years on robust forecast
** Amarin Corporation Plc: up 6.2 pct
Amarin rises as American Diabetes Association backs fish oil treatment
** Phio Pharmaceuticals Corp: up 8.7 pct
Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs
** American Airlines Group Inc: down 0.7 pct
American Airlines: Rises as airlines encouraged by Boeing's software update
** Fibrocell Science Inc: up 9.2 pct
Fibrocell shares rally after completion of FDA meeting
** Teva Pharmaceutical Industries Ltd: down 2.4 pct
Teva: BMO Capital Markets starts coverage with "market perform"
** Trex Company Inc: up 5.6 pct
Trex Company Inc: Stifel upgrades, says attractive entry point has arrived
** Wabco Holdings Inc: down 9.9 pct
Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival
** World Wrestling Entertainment Inc: down 0.7 pct
WWE: Dips as McMahon's $270 mln stock sale shopped
** Five Below Inc: up 7.0 pct
Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects
** Movado Group Inc: up 19.1 pct
Movado Group: Clocks gains after impressive Q4 results
** Proteon Therapeutics Inc: down 85.1 pct
Proteon shares crash after study failure; co to evaluate options
** Pareteum Corp: up 0.9 pct
Pareteum: Gains on winning contract worth over 3.5x quarterly rev
** China Recycling Energy Corp: up 8.4 pct
China Recycling Energy: Rises on deal to build its first energy storage power station
** Sarepta Therapeutics Inc: up 2.7 pct
Sarepta: Up as interim trial data for DMD drug shows promise
** Verint Systems Inc: up 12.3 pct
Verint seeing a revival in cloud growth
** Heat Biologics Inc: up 3.3 pct
Heat Biologics: Rises after update on lung cancer drug trial
** Supernus Pharmaceuticals Inc: down 0.4 pct
Supernus: Slips after ADHD drug shows mixed results in late-stage trial
** Tenax Therapeutics Inc: up 14.0 pct
Tenax: Surges as first patient begins high blood pressure drug trial
** Qutoutiao Inc: up 0.1 pct
Qutoutiao Inc: Rises on convertible loan agreement with Alibaba
** Western Digital Corp: up 1.8 pct
RBC starts Western Digital at 'outperform', Seagate at 'sector perform'
** Jaguar Health Inc: up 3.9 pct
Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial
** EyePoint Pharmaceuticals Inc: down 16.7 pct
EyePoint Pharma: Down on discounted common stock offering
** Therapix Biosciences Ltd: down 21.4 pct
Therapix Biosciences: Falls on pricing public offering of ADSs
** American Renal Associates Holdings Inc: down 36.9 pct
American Renal: Hits record low as CFO leaves while accounting woes rise
** Osmotica Pharmaceuticals Plc: down 35.8 pct
Osmotica Pharmaceuticals: Plunges after Q4 sales miss
** Ford Motor Co: up 2.1 pct
Ford shares pick up on VW deal to develop truck
** CannTrust Holdings Inc: down 15.8 pct
CannTrust Holdings: Shares drop on wider-than-expected Q4 loss
** Fabrinet: up 1.2 pct
Fabrinet: Up after PT increase by Piper Jaffray
** Tricida Inc: up 44.2 pct
Tricida: Jumps on upbeat data from kidney disease drug study
** Realogy Holdings Corp: down 5.0 pct
Realogy Holdings: Drops on pricing upsized $550 mln notes offering
** Thor Industries Inc: up 2.1 pct
Thor Industries: Jefferies labels Airstream brand "crown jewel of the RV industry"
** PulteGroup Inc: down 0.5 pct
** D.R. Horton Inc: down 1.6 pct
** Toll Brothers Inc: down 1.2 pct
** Lennar Corp: down 2.8 pct
Homebuilders pulled off 7-mth peak on unexpected weak data
** Acacia Communications Inc: up 4.8 pct
Piper Jaffray says Acacia one of the best optical component investments
** Sprint Corp: down 4.2 pct
Sprint falls after BBG reports co's claim of being weak without T-Mobile
** Verizon Communications Inc: down 3.3 pct
Verizon: Shares on track for worst day since late December
** Frontdoor Inc: up 5.8 pct
Frontdoor: Another Wall St bull comes knocking
** Precision BioSciences Inc: up 12.9 pct
Gene editing firm Precision BioSciences shines on debut
** Novan Inc: down 22.4 pct
Novan flags need for funding, stock drops
** Harmony Gold Mining Company Ltd: down 5.2 pct
** Gold Fields Ltd: down 5.2 pct
** Iamgold Corp: down 3.7 pct
Gold cos fall as bullion slides on firmer dollar
** SVMK Inc: up 3.1 pct
SurveyMonkey jumps to 6-month high on SunTrust PT raise
** SunPower Corp: up 3.1 pct
SunPower Corp: Up on plan to sell membership interests in units
The 11 major S&P 500 sectors:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth. The top three S&P 500 percentage gainers: ** PVH Corp, up 15.5 pct ** Accenture Plc, up 4.7 pct ** Ralph Lauren Corp, up 4.3 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.3 pct ** Verizon Communications Inc, down 3.3 pct ** Lennar Corp, down 2.8 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 59.5 pct ** Movado Group Inc, up 19.1 pct ** PVH Corp, up 15.5 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 36.9 pct ** CannTrust Holdings Inc, down 15.8 pct ** Nielsen Holdings Plc, down 10.3 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 144 pct ** Tricida Inc, up 44.2 pct ** China Internet Nationwide Financial Services Inc, up 40.1 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 44 pct ** Osmotica Pharmaceuticals Plc, down 35.8 pct ** Capital Product Partners Lp, down 34 pct ** Lululemon Athletica Inc: up 15.6 pct Lululemon hits record high after blowout forecast Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.4 pct Nielsen: Slides to "failed transaction" value on doubts about auction ** Accenture Plc: up 4.7 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 44.0 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 15.5 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corporation Plc: up 6.2 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 8.7 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: down 0.7 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 9.2 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.4 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 5.6 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: down 0.7 pct WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 7.0 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 19.1 pct Movado Group: Clocks gains after impressive Q4 results ** Proteon Therapeutics Inc: down 85.1 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 0.9 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 8.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 2.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.3 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 3.3 pct Heat Biologics: Rises after update on lung cancer drug trial ** Supernus Pharmaceuticals Inc: down 0.4 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 14.0 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.1 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 1.8 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 3.9 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 16.7 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 21.4 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 36.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise ** Osmotica Pharmaceuticals Plc: down 35.8 pct Osmotica Pharmaceuticals: Plunges after Q4 sales miss ** Ford Motor Co: up 2.1 pct Ford shares pick up on VW deal to develop truck ** CannTrust Holdings Inc: down 15.8 pct CannTrust Holdings: Shares drop on wider-than-expected Q4 loss ** Fabrinet: up 1.2 pct Fabrinet: Up after PT increase by Piper Jaffray ** Tricida Inc: up 44.2 pct Tricida: Jumps on upbeat data from kidney disease drug study ** Realogy Holdings Corp: down 5.0 pct Realogy Holdings: Drops on pricing upsized $550 mln notes offering ** Thor Industries Inc: up 2.1 pct Thor Industries: Jefferies labels Airstream brand "crown jewel of the RV industry" ** PulteGroup Inc: down 0.5 pct ** D.R. Horton Inc: down 1.6 pct ** Toll Brothers Inc: down 1.2 pct ** Lennar Corp: down 2.8 pct Homebuilders pulled off 7-mth peak on unexpected weak data ** Acacia Communications Inc: up 4.8 pct Piper Jaffray says Acacia one of the best optical component investments ** Sprint Corp: down 4.2 pct Sprint falls after BBG reports co's claim of being weak without T-Mobile ** Verizon Communications Inc: down 3.3 pct Verizon: Shares on track for worst day since late December ** Frontdoor Inc: up 5.8 pct Frontdoor: Another Wall St bull comes knocking ** Precision BioSciences Inc: up 12.9 pct Gene editing firm Precision BioSciences shines on debut ** Novan Inc: down 22.4 pct Novan flags need for funding, stock drops ** Harmony Gold Mining Company Ltd: down 5.2 pct ** Gold Fields Ltd: down 5.2 pct ** Iamgold Corp: down 3.7 pct Gold cos fall as bullion slides on firmer dollar ** SVMK Inc: up 3.1 pct SurveyMonkey jumps to 6-month high on SunTrust PT raise ** SunPower Corp: up 3.1 pct SunPower Corp: Up on plan to sell membership interests in units The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth. The top three S&P 500 percentage gainers: ** PVH Corp, up 15.5 pct ** Accenture Plc, up 4.7 pct ** Ralph Lauren Corp, up 4.3 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.3 pct ** Verizon Communications Inc, down 3.3 pct ** Lennar Corp, down 2.8 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 59.5 pct ** Movado Group Inc, up 19.1 pct ** PVH Corp, up 15.5 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 36.9 pct ** CannTrust Holdings Inc, down 15.8 pct ** Nielsen Holdings Plc, down 10.3 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 144 pct ** Tricida Inc, up 44.2 pct ** China Internet Nationwide Financial Services Inc, up 40.1 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 44 pct ** Osmotica Pharmaceuticals Plc, down 35.8 pct ** Capital Product Partners Lp, down 34 pct ** Lululemon Athletica Inc: up 15.6 pct Lululemon hits record high after blowout forecast Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.4 pct Nielsen: Slides to "failed transaction" value on doubts about auction ** Accenture Plc: up 4.7 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 44.0 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 15.5 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corporation Plc: up 6.2 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 8.7 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: down 0.7 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 9.2 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.4 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 5.6 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: down 0.7 pct WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 7.0 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 19.1 pct Movado Group: Clocks gains after impressive Q4 results ** Proteon Therapeutics Inc: down 85.1 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 0.9 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 8.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 2.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.3 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 3.3 pct Heat Biologics: Rises after update on lung cancer drug trial ** Supernus Pharmaceuticals Inc: down 0.4 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 14.0 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.1 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 1.8 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 3.9 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 16.7 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 21.4 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 36.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise ** Osmotica Pharmaceuticals Plc: down 35.8 pct Osmotica Pharmaceuticals: Plunges after Q4 sales miss ** Ford Motor Co: up 2.1 pct Ford shares pick up on VW deal to develop truck ** CannTrust Holdings Inc: down 15.8 pct CannTrust Holdings: Shares drop on wider-than-expected Q4 loss ** Fabrinet: up 1.2 pct Fabrinet: Up after PT increase by Piper Jaffray ** Tricida Inc: up 44.2 pct Tricida: Jumps on upbeat data from kidney disease drug study ** Realogy Holdings Corp: down 5.0 pct Realogy Holdings: Drops on pricing upsized $550 mln notes offering ** Thor Industries Inc: up 2.1 pct Thor Industries: Jefferies labels Airstream brand "crown jewel of the RV industry" ** PulteGroup Inc: down 0.5 pct ** D.R. Horton Inc: down 1.6 pct ** Toll Brothers Inc: down 1.2 pct ** Lennar Corp: down 2.8 pct Homebuilders pulled off 7-mth peak on unexpected weak data ** Acacia Communications Inc: up 4.8 pct Piper Jaffray says Acacia one of the best optical component investments ** Sprint Corp: down 4.2 pct Sprint falls after BBG reports co's claim of being weak without T-Mobile ** Verizon Communications Inc: down 3.3 pct Verizon: Shares on track for worst day since late December ** Frontdoor Inc: up 5.8 pct Frontdoor: Another Wall St bull comes knocking ** Precision BioSciences Inc: up 12.9 pct Gene editing firm Precision BioSciences shines on debut ** Novan Inc: down 22.4 pct Novan flags need for funding, stock drops ** Harmony Gold Mining Company Ltd: down 5.2 pct ** Gold Fields Ltd: down 5.2 pct ** Iamgold Corp: down 3.7 pct Gold cos fall as bullion slides on firmer dollar ** SVMK Inc: up 3.1 pct SurveyMonkey jumps to 6-month high on SunTrust PT raise ** SunPower Corp: up 3.1 pct SunPower Corp: Up on plan to sell membership interests in units The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth. The top three S&P 500 percentage gainers: ** PVH Corp, up 15.5 pct ** Accenture Plc, up 4.7 pct ** Ralph Lauren Corp, up 4.3 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.3 pct ** Verizon Communications Inc, down 3.3 pct ** Lennar Corp, down 2.8 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 59.5 pct ** Movado Group Inc, up 19.1 pct ** PVH Corp, up 15.5 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 36.9 pct ** CannTrust Holdings Inc, down 15.8 pct ** Nielsen Holdings Plc, down 10.3 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 144 pct ** Tricida Inc, up 44.2 pct ** China Internet Nationwide Financial Services Inc, up 40.1 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 44 pct ** Osmotica Pharmaceuticals Plc, down 35.8 pct ** Capital Product Partners Lp, down 34 pct ** Lululemon Athletica Inc: up 15.6 pct Lululemon hits record high after blowout forecast Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.4 pct Nielsen: Slides to "failed transaction" value on doubts about auction ** Accenture Plc: up 4.7 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 44.0 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 15.5 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corporation Plc: up 6.2 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 8.7 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: down 0.7 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 9.2 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.4 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 5.6 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: down 0.7 pct WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 7.0 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 19.1 pct Movado Group: Clocks gains after impressive Q4 results ** Proteon Therapeutics Inc: down 85.1 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 0.9 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 8.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 2.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.3 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 3.3 pct Heat Biologics: Rises after update on lung cancer drug trial ** Supernus Pharmaceuticals Inc: down 0.4 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 14.0 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.1 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 1.8 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 3.9 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 16.7 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 21.4 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 36.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise ** Osmotica Pharmaceuticals Plc: down 35.8 pct Osmotica Pharmaceuticals: Plunges after Q4 sales miss ** Ford Motor Co: up 2.1 pct Ford shares pick up on VW deal to develop truck ** CannTrust Holdings Inc: down 15.8 pct CannTrust Holdings: Shares drop on wider-than-expected Q4 loss ** Fabrinet: up 1.2 pct Fabrinet: Up after PT increase by Piper Jaffray ** Tricida Inc: up 44.2 pct Tricida: Jumps on upbeat data from kidney disease drug study ** Realogy Holdings Corp: down 5.0 pct Realogy Holdings: Drops on pricing upsized $550 mln notes offering ** Thor Industries Inc: up 2.1 pct Thor Industries: Jefferies labels Airstream brand "crown jewel of the RV industry" ** PulteGroup Inc: down 0.5 pct ** D.R. Horton Inc: down 1.6 pct ** Toll Brothers Inc: down 1.2 pct ** Lennar Corp: down 2.8 pct Homebuilders pulled off 7-mth peak on unexpected weak data ** Acacia Communications Inc: up 4.8 pct Piper Jaffray says Acacia one of the best optical component investments ** Sprint Corp: down 4.2 pct Sprint falls after BBG reports co's claim of being weak without T-Mobile ** Verizon Communications Inc: down 3.3 pct Verizon: Shares on track for worst day since late December ** Frontdoor Inc: up 5.8 pct Frontdoor: Another Wall St bull comes knocking ** Precision BioSciences Inc: up 12.9 pct Gene editing firm Precision BioSciences shines on debut ** Novan Inc: down 22.4 pct Novan flags need for funding, stock drops ** Harmony Gold Mining Company Ltd: down 5.2 pct ** Gold Fields Ltd: down 5.2 pct ** Iamgold Corp: down 3.7 pct Gold cos fall as bullion slides on firmer dollar ** SVMK Inc: up 3.1 pct SurveyMonkey jumps to 6-month high on SunTrust PT raise ** SunPower Corp: up 3.1 pct SunPower Corp: Up on plan to sell membership interests in units The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: Wall Street's main indexes swung between gains and losses on Thursday, as optimism fueled by progress in U.S.-China trade talks was clouded by fears of an economic slowdown after a cut in fourth-quarter GDP growth. The top three S&P 500 percentage gainers: ** PVH Corp, up 15.5 pct ** Accenture Plc, up 4.7 pct ** Ralph Lauren Corp, up 4.3 pct The top three S&P 500 percentage losers: ** Nielsen Holdings Plc, down 10.3 pct ** Verizon Communications Inc, down 3.3 pct ** Lennar Corp, down 2.8 pct The top three NYSE percentage gainers: ** Planet Green Holdings Corp, up 59.5 pct ** Movado Group Inc, up 19.1 pct ** PVH Corp, up 15.5 pct The top three NYSE percentage losers: ** American Renal Associates Holdings Inc, down 36.9 pct ** CannTrust Holdings Inc, down 15.8 pct ** Nielsen Holdings Plc, down 10.3 pct The top three Nasdaq percentage gainers: ** Euro Tech Holdings Company Ltd, up 144 pct ** Tricida Inc, up 44.2 pct ** China Internet Nationwide Financial Services Inc, up 40.1 pct The top three Nasdaq percentage losers: ** Reebonz Holding Ltd, down 44 pct ** Osmotica Pharmaceuticals Plc, down 35.8 pct ** Capital Product Partners Lp, down 34 pct ** Lululemon Athletica Inc: up 15.6 pct Lululemon hits record high after blowout forecast Street View: Lululemon Athletica can't stop, won't stop ** Nielsen Holdings Plc: down 10.4 pct Nielsen: Slides to "failed transaction" value on doubts about auction ** Accenture Plc: up 4.7 pct Accenture: Shares advance as Q2 results beat, co raises FY profit forecast ** Reebonz Holding Ltd: down 44.0 pct Reebonz Holding: Drops on plans for stock deal a day after 220 pct surge ** PVH Corp: up 15.5 pct PVH:Set for best day in over 6 years on robust forecast ** Amarin Corporation Plc: up 6.2 pct Amarin rises as American Diabetes Association backs fish oil treatment ** Phio Pharmaceuticals Corp: up 8.7 pct Phio Pharmaceuticals: Jumps on deal with Glycostem for cancer drugs ** American Airlines Group Inc: down 0.7 pct American Airlines: Rises as airlines encouraged by Boeing's software update ** Fibrocell Science Inc: up 9.2 pct Fibrocell shares rally after completion of FDA meeting ** Teva Pharmaceutical Industries Ltd: down 2.4 pct Teva: BMO Capital Markets starts coverage with "market perform" ** Trex Company Inc: up 5.6 pct Trex Company Inc: Stifel upgrades, says attractive entry point has arrived ** Wabco Holdings Inc: down 9.9 pct Wabco Holdings: Tumbles after $7 bln deal to sell itself to German rival ** World Wrestling Entertainment Inc: down 0.7 pct WWE: Dips as McMahon's $270 mln stock sale shopped ** Five Below Inc: up 7.0 pct Five Below: Up on upbeat Q4; analysts raise PT on long-term growth prospects ** Movado Group Inc: up 19.1 pct Movado Group: Clocks gains after impressive Q4 results ** Proteon Therapeutics Inc: down 85.1 pct Proteon shares crash after study failure; co to evaluate options ** Pareteum Corp: up 0.9 pct Pareteum: Gains on winning contract worth over 3.5x quarterly rev ** China Recycling Energy Corp: up 8.4 pct China Recycling Energy: Rises on deal to build its first energy storage power station ** Sarepta Therapeutics Inc: up 2.7 pct Sarepta: Up as interim trial data for DMD drug shows promise ** Verint Systems Inc: up 12.3 pct Verint seeing a revival in cloud growth ** Heat Biologics Inc: up 3.3 pct Heat Biologics: Rises after update on lung cancer drug trial ** Supernus Pharmaceuticals Inc: down 0.4 pct Supernus: Slips after ADHD drug shows mixed results in late-stage trial ** Tenax Therapeutics Inc: up 14.0 pct Tenax: Surges as first patient begins high blood pressure drug trial ** Qutoutiao Inc: up 0.1 pct Qutoutiao Inc: Rises on convertible loan agreement with Alibaba ** Western Digital Corp: up 1.8 pct RBC starts Western Digital at 'outperform', Seagate at 'sector perform' ** Jaguar Health Inc: up 3.9 pct Jaguar Health: Climbs ahead of FDA meeting to discuss Mytesi trial ** EyePoint Pharmaceuticals Inc: down 16.7 pct EyePoint Pharma: Down on discounted common stock offering ** Therapix Biosciences Ltd: down 21.4 pct Therapix Biosciences: Falls on pricing public offering of ADSs ** American Renal Associates Holdings Inc: down 36.9 pct American Renal: Hits record low as CFO leaves while accounting woes rise ** Osmotica Pharmaceuticals Plc: down 35.8 pct Osmotica Pharmaceuticals: Plunges after Q4 sales miss ** Ford Motor Co: up 2.1 pct Ford shares pick up on VW deal to develop truck ** CannTrust Holdings Inc: down 15.8 pct CannTrust Holdings: Shares drop on wider-than-expected Q4 loss ** Fabrinet: up 1.2 pct Fabrinet: Up after PT increase by Piper Jaffray ** Tricida Inc: up 44.2 pct Tricida: Jumps on upbeat data from kidney disease drug study ** Realogy Holdings Corp: down 5.0 pct Realogy Holdings: Drops on pricing upsized $550 mln notes offering ** Thor Industries Inc: up 2.1 pct Thor Industries: Jefferies labels Airstream brand "crown jewel of the RV industry" ** PulteGroup Inc: down 0.5 pct ** D.R. Horton Inc: down 1.6 pct ** Toll Brothers Inc: down 1.2 pct ** Lennar Corp: down 2.8 pct Homebuilders pulled off 7-mth peak on unexpected weak data ** Acacia Communications Inc: up 4.8 pct Piper Jaffray says Acacia one of the best optical component investments ** Sprint Corp: down 4.2 pct Sprint falls after BBG reports co's claim of being weak without T-Mobile ** Verizon Communications Inc: down 3.3 pct Verizon: Shares on track for worst day since late December ** Frontdoor Inc: up 5.8 pct Frontdoor: Another Wall St bull comes knocking ** Precision BioSciences Inc: up 12.9 pct Gene editing firm Precision BioSciences shines on debut ** Novan Inc: down 22.4 pct Novan flags need for funding, stock drops ** Harmony Gold Mining Company Ltd: down 5.2 pct ** Gold Fields Ltd: down 5.2 pct ** Iamgold Corp: down 3.7 pct Gold cos fall as bullion slides on firmer dollar ** SVMK Inc: up 3.1 pct SurveyMonkey jumps to 6-month high on SunTrust PT raise ** SunPower Corp: up 3.1 pct SunPower Corp: Up on plan to sell membership interests in units The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6520.0
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2019-03-28 00:00:00 UTC
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PRECIOUS-Palladium extends losses, hits 5-wk low as investors book profit
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AAL
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https://www.nasdaq.com/articles/precious-palladium-extends-losses-hits-5-wk-low-investors-book-profit-2019-03-28
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nan
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* Spot gold hits 1-week low
* Palladium hits session low of $1,430.69/oz, lowest sinceFeb. 18
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comments)
By Swati Verma
March 28 (Reuters) - Palladium fell to a more than five-weeklow on Thursday, a day after posting its steepest decline inover two years, as concerns about the global economy and abuoyant dollar prompted investors to take profit after a recentrecord run.
Spot palladium XPD= fell 0.4 percent to $1,438.08 perounce by 0756 GMT. Prices tumbled 6.3 percent on Wednesday,marking the biggest one-day percentage fall since January 2017.
The metal, used extensively in the making of catalyticconverters in vehicles, has already shed about $190 from arecord peak of $1,620.52 an ounce hit last week.
"With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingwhile worries about demand had emerged, supply constraintsremained greater.
"The tightness in the market and concerns about supply sideissues will keep prices elevated. But if we do see continuedstrength in U.S. dollar, this sell-off might extend a little bitlonger."
The dollar index .DXY was trading near a two-week peak andextended gains for a third straight session against its peers,making dollar-denominated metals more expensive for holders ofother currencies.
Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble".
The auto-catalyst metal was trading below the 55-day movingaverage of around $1,453 an ounce, which it breached for thefirst time since August in the previous session.
"Given the extent of the technical damage, we suspect thatpalladium prices will likely push somewhat lower over the daysahead as a consolidation range starts to get carved out," INTLFCStone analyst Edward Meir wrote in a note.
Spot gold prices XAU= on the other hand were steady at$1,309.88 per ounce, while U.S. gold futures GCcv1 were down0.1 percent at $1,308.70 an ounce.
Bullion touched a one-week low earlier in the session,mainly pressured by a strong dollar.
"Thegold marketis closely following data and how thataffects the U.S. Federal Reserve," ANZ's Hynes said. "For themoment, investors are taking a wait-and-see approach."
The Fed's dovish stance and worries about an economicslowdown have kept gold prices supported above the key $1,300 anounce level, analysts said.
"We remain cautiously optimistic on gold going forward...However, if $1,300 breaks (below) once again, stale longs mightdecide to throw in the towel on yet another ill-fated rallyattempt," INTL FCStone's Meir said.
Silver XAG= edged 0.1 percent lower to $15.26 per ounce,while platinum XPT= rose 1.4 percent to $860.06.
(Reporting by Swati Verma in Bengaluru; Editing by Rashmi Aichand Subhranshu Sahu) ((Swati.Verma@thomsonreuters.com; within U.S. +1 651 848 5832,outside U.S. +91 80 6749 6356/1298 ; Reuters Messaging:swati.verma.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comments) By Swati Verma March 28 (Reuters) - Palladium fell to a more than five-weeklow on Thursday, a day after posting its steepest decline inover two years, as concerns about the global economy and abuoyant dollar prompted investors to take profit after a recentrecord run. "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingwhile worries about demand had emerged, supply constraintsremained greater.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium hits session low of $1,430.69/oz, lowest sinceFeb. 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comments) By Swati Verma March 28 (Reuters) - Palladium fell to a more than five-weeklow on Thursday, a day after posting its steepest decline inover two years, as concerns about the global economy and abuoyant dollar prompted investors to take profit after a recentrecord run.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". 18 * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices, adds comments) By Swati Verma March 28 (Reuters) - Palladium fell to a more than five-weeklow on Thursday, a day after posting its steepest decline inover two years, as concerns about the global economy and abuoyant dollar prompted investors to take profit after a recentrecord run. "With the concerns around economic growth and a strongerdollar, investors took profits after the strong rally we've hadin the past few weeks," ANZ analyst Daniel Hynes said, addingwhile worries about demand had emerged, supply constraintsremained greater.
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Some analysts also attributed Wednesday's sharp sell-off tocomments by Anglo AmericanAAL.L Chief Executive MarkCutifani, who said palladium was a "bubble". * Spot gold hits 1-week low * Palladium hits session low of $1,430.69/oz, lowest sinceFeb. Spot palladium XPD= fell 0.4 percent to $1,438.08 perounce by 0756 GMT.
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6521.0
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2019-03-28 00:00:00 UTC
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Buffett says Apple content plan hard to predict, touts airline safety
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AAL
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https://www.nasdaq.com/articles/buffett-says-apple-content-plan-hard-predict-touts-airline-safety-2019-03-28
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nan
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nan
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By Jonathan Stempel
March 28 () - Warren Buffett on Thursday said he could not predict the success of Apple Inc's new suite of services but was confident the public would benefit as content providers vie for their wallets.
The billionaire chairman of Berkshire Hathaway Inc, which owns big stakes in the four largest U.S. airlines, also said that industry would weather fears about safety even after Boeing Co's 737 MAX planes were pulled from service.
"You really want to bet on America," said Buffett, who was speaking in Grapevine, Texas at an event broadcast by CNBC.
Apple on Monday announced an ambitious plan to reorient itself as an entertainment and financial services company, including a plunge into video streaming and the launch of a Goldman Sachs-branded credit card.
Buffett, whose company owned $40.3 billion of Apple stock at year end, said the iPhone maker "can afford a mistake or two" as companies such as Amazon.com Inc, Netflix Inc and Walt Disney Co compete for customer attention.
"Eyeballs aren't going to double," he said. "That's not an easy game to predict, because you have very smart people with lots of resources trying to figure out how to grab another half hour of your time."
But he said a decade from now, as the delivery of entertainment content improves, "the public will be the winner."
Buffett also defended Berkshire's roughly one-tenth stakes in American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Continental Holdings Inc, despite problems with the 737 MAX.
Berkshire began amassing those stakes in 2016, surprising many investors because Buffett had viewed the sector as too competitive and capital-intensive after making an investment in USAir Group he later regretted.
"I don't think it's a suicidal business any more," he said on Thursday.
Buffett added that Boeing, which has not been a Berkshire investment, "has a lot of work to do very promptly," but that "the airline industry has been so safe."
Buffett also showed his usual humor, prompting audience laughter as he removed a flip phone from his pocket during the Apple discussion.
"Alexander Graham Bell lent it to me and I forgot to return it," said Buffett, 88, who was born eight years after the telephone inventor died.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jonathan Stempel March 28 () - Warren Buffett on Thursday said he could not predict the success of Apple Inc's new suite of services but was confident the public would benefit as content providers vie for their wallets. The billionaire chairman of Berkshire Hathaway Inc, which owns big stakes in the four largest U.S. airlines, also said that industry would weather fears about safety even after Boeing Co's 737 MAX planes were pulled from service. Apple on Monday announced an ambitious plan to reorient itself as an entertainment and financial services company, including a plunge into video streaming and the launch of a Goldman Sachs-branded credit card.
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Apple on Monday announced an ambitious plan to reorient itself as an entertainment and financial services company, including a plunge into video streaming and the launch of a Goldman Sachs-branded credit card. Buffett, whose company owned $40.3 billion of Apple stock at year end, said the iPhone maker "can afford a mistake or two" as companies such as Amazon.com Inc, Netflix Inc and Walt Disney Co compete for customer attention. Buffett also defended Berkshire's roughly one-tenth stakes in American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Continental Holdings Inc, despite problems with the 737 MAX.
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By Jonathan Stempel March 28 () - Warren Buffett on Thursday said he could not predict the success of Apple Inc's new suite of services but was confident the public would benefit as content providers vie for their wallets. Buffett, whose company owned $40.3 billion of Apple stock at year end, said the iPhone maker "can afford a mistake or two" as companies such as Amazon.com Inc, Netflix Inc and Walt Disney Co compete for customer attention. Buffett also defended Berkshire's roughly one-tenth stakes in American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Continental Holdings Inc, despite problems with the 737 MAX.
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Buffett also defended Berkshire's roughly one-tenth stakes in American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Continental Holdings Inc, despite problems with the 737 MAX. Berkshire began amassing those stakes in 2016, surprising many investors because Buffett had viewed the sector as too competitive and capital-intensive after making an investment in USAir Group he later regretted. Buffett added that Boeing, which has not been a Berkshire investment, "has a lot of work to do very promptly," but that "the airline industry has been so safe."
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6522.0
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2019-03-27 00:00:00 UTC
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Palladium tumbles 7 pct as stunning rally hits buffers
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AAL
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https://www.nasdaq.com/articles/palladium-tumbles-7-pct-stunning-rally-hits-buffers-2019-03-27
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nan
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By K. Sathya Narayanan and Peter Hobson
March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling.
Palladium, used to curb harmful emissions from vehicle engines, had almost doubled to a record high of $1,620.52 an ounce last week from $832 in August last year.
Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey.
But Garvey said prices were likely to end the year around $1,500.
"It's not the beginning of a huge re-evaluation ... you still have a market that is fundamentally in industrial deficit," he said, adding that substitution of palladium for platinum is some time away and it will be gradual if it happens.
The price fall gained momentum as palladium broke below technical levels, triggering automated selling, a trader said.
Palladium fell out of a steep upward trend channel and below its 50-day moving average for the first time since August.
Investors were also happy to sell metal for a profit after the rally, said Tai Wong, head of base and precious metals derivatives trading at BMO.
Some analysts had warned that prices could not sustain their high levels, particularly as auto sales have weakened in key markets including Europe and China, meaning car makers may need less metal.
Concerns over the health of the global economy pushed down world stock markets on Wednesday.
"It seems that global recession fears start to hurt palladium as well," Commerzbank analyst Carsten Fritsch said.
The gloomy economic outlook offered only limited support to gold, traditionally seen as a safe investment in times of uncertainty, which dipped 0.4 percent to $1,310.56 an ounce.
A stronger dollar helped push prices lower by making bullion more expensive for non-U.S. buyers.
Gold had on Monday risen to $1,324.32, the highest in more than three weeks.
U.S. gold futures settled down 0.3 percent at $1,310.4 per ounce.
Investors were looking ahead to the latest round of China-U.S. trade negotiations in Beijing on Thursday, as well as a fraught week for the UK as Prime Minister Theresa May attempts to push through her twice-rejected Brexit deal.
Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
Gold vs yields
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey. Some analysts had warned that prices could not sustain their high levels, particularly as auto sales have weakened in key markets including Europe and China, meaning car makers may need less metal. Investors were looking ahead to the latest round of China-U.S. trade negotiations in Beijing on Thursday, as well as a fraught week for the UK as Prime Minister Theresa May attempts to push through her twice-rejected Brexit deal.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. The price fall gained momentum as palladium broke below technical levels, triggering automated selling, a trader said. A stronger dollar helped push prices lower by making bullion more expensive for non-U.S. buyers.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey. Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. U.S. gold futures settled down 0.3 percent at $1,310.4 per ounce. Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
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6523.0
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2019-03-27 00:00:00 UTC
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Palladium slumps 6 pct; gold dips as dollar gains
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https://www.nasdaq.com/articles/palladium-slumps-6-pct-gold-dips-dollar-gains-2019-03-27
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By K. Sathya Narayanan and Peter Hobson
March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling.
Palladium, used to curb harmful emissions from vehicle engines, had almost doubled to a record high of $1,620.52 an ounce last week from $832 in August last year.
Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey.
But Garvey said prices were likely to end the year around $1,500.
"It's not the beginning of a huge re-evaluation ... you still have a market that is fundamentally in industrial deficit," he said, adding that substitution of palladium for platinum is some time away and it will be gradual if it happens.
The price fall gained momentum as palladium broke below technical levels, triggering automated selling, a trader said.
Palladium fell out of a steep upward trend channel and below its 50-day moving average for the first time since August.
Investors were also happy to sell metal for a profit after the rally, said Tai Wong, head of base and precious metals derivatives trading at BMO.
Some analysts had warned that prices could not sustain their high levels, particularly as auto sales have weakened in key markets including Europe and China, meaning car makers may need less metal.
Concerns over the health of the global economy pushed down world stock markets on Wednesday.
"It seems that global recession fears start to hurt palladium as well," Commerzbank analyst Carsten Fritsch said.
The gloomy economic outlook offered only limited support to gold, traditionally seen as a safe investment in times of uncertainty, which dipped 0.4 percent to $1,310.56 an ounce.
A stronger dollar helped push prices lower by making bullion more expensive for non-U.S. buyers.
Gold had on Monday risen to $1,324.32, the highest in more than three weeks.
U.S. gold futures settled down 0.3 percent at $1,310.4 per ounce.
Investors were looking ahead to the latest round of China-U.S. trade negotiations in Beijing on Thursday, as well as a fraught week for the UK as Prime Minister Theresa May attempts to push through her twice-rejected Brexit deal.
Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
Gold vs yields
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey. Some analysts had warned that prices could not sustain their high levels, particularly as auto sales have weakened in key markets including Europe and China, meaning car makers may need less metal. Investors were looking ahead to the latest round of China-U.S. trade negotiations in Beijing on Thursday, as well as a fraught week for the UK as Prime Minister Theresa May attempts to push through her twice-rejected Brexit deal.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. The price fall gained momentum as palladium broke below technical levels, triggering automated selling, a trader said. A stronger dollar helped push prices lower by making bullion more expensive for non-U.S. buyers.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. Helping trigger the declines were comments by chief executive of miner Anglo American, who said palladium was a "bubble" and auto makers who account for some 80 percent of demand could replace the metal with cheaper platinum, said ICBC Standard analyst Marcus Garvey. Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
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By K. Sathya Narayanan and Peter Hobson March 27 () - Palladium prices plummeted around 7 percent on Wednesday, the biggest daily percentage drop in more than two years, as investors worried that prices had risen too far too fast and breaks below technical levels triggered automatic selling. U.S. gold futures settled down 0.3 percent at $1,310.4 per ounce. Silver was down 0.9 percent at $15.29 an ounce and platinum was 0.1 percent lower at $854 an ounce.
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6524.0
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2019-03-27 00:00:00 UTC
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PRECIOUS-Palladium falls further on technical sell-off; gold firms
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https://www.nasdaq.com/articles/precious-palladium-falls-further-technical-sell-gold-firms-2019-03-27
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March 28 (Reuters) - Palladium fell further on Thursday, aday after the metal posted its biggest drop in more than twoyears on technical selling and profit-booking.
Gold prices, meanwhile, edged higher as an inversion in theU.S. Treasury yield curve fanned fears of an economic slowdown.
* Spot palladium XPD= was down 0.2 percent at $1,441.49per ounce at 1335 GMT, after hitting its lowest since Feb. 18 at$1,436 earlier in the session.
* The metal fell 6.3 percent on Wednesday, its biggestone-day percentage decline since January 2017. It hit a recordpeak of $1,620.52 last week, and has gained about 14 percent sofar this year.
* Spot gold XAU= was 0.1 percent higher at $1,310.48 perounce.
* U.S. gold futures GCv1 were down 0.1 percent at$1,308.50 an ounce.
* At the FT Commodities Global Summit in Lausanne,Switzerland, Anglo AmericanAAL.L Chief Executive Officer MarkCutifani said palladium, whose price hit record high this month,was a "bubble".
* Asian share markets were painted red on Thursday asrecession concerns sent bond yields spiralling lower across theglobe, overshadowing central bank attempts to calm frayednerves. MKTS/GLOB
* The U.S. economy faces "notable" risks and the Fed cantake a wait-and-see approach to monetary policy, Kansas CityFederal Reserve Bank President Esther George said on Wednesday.
* British Prime Minister Theresa May failed to sway hardlineopponents of her European Union divorce deal on Wednesday withan offer to quit, but parliament's bid to agree an alternativefell short, leaving the Brexit process as deadlocked as ever.
* China's industrial firms posted their worst slump inprofits since late 2011 in the first two months of this year,data showed on Wednesday, as increasing strains on the economyin the face of slowing demand at home and abroad took a toll onbusinesses.
* Euro zone money markets on Wednesday sharply scaled backexpectations for a European Central Bank rate rise in 2020,after latest signals from ECB officials suggested they were inno hurry to tighten monetary policy.
* South Africa'sSibanye-StillwaterSGLJ.J will explorechanging its primary listing in a bid to access more capital asit explores growth opportunities outside its home market, ChiefExecutive Neal Froneman said on Wednesday. (Reporting by Eileen Soreng and Swati Verma in Bengaluru;Editing by Subhranshu Sahu) ((Swati.Verma@thomsonreuters.com; within U.S. +1 651 848 5832,outside U.S. +91 80 6749 6356/1298 ; Reuters Messaging:swati.verma.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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* At the FT Commodities Global Summit in Lausanne,Switzerland, Anglo AmericanAAL.L Chief Executive Officer MarkCutifani said palladium, whose price hit record high this month,was a "bubble". * British Prime Minister Theresa May failed to sway hardlineopponents of her European Union divorce deal on Wednesday withan offer to quit, but parliament's bid to agree an alternativefell short, leaving the Brexit process as deadlocked as ever. * China's industrial firms posted their worst slump inprofits since late 2011 in the first two months of this year,data showed on Wednesday, as increasing strains on the economyin the face of slowing demand at home and abroad took a toll onbusinesses.
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* At the FT Commodities Global Summit in Lausanne,Switzerland, Anglo AmericanAAL.L Chief Executive Officer MarkCutifani said palladium, whose price hit record high this month,was a "bubble". March 28 (Reuters) - Palladium fell further on Thursday, aday after the metal posted its biggest drop in more than twoyears on technical selling and profit-booking. * The metal fell 6.3 percent on Wednesday, its biggestone-day percentage decline since January 2017.
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* At the FT Commodities Global Summit in Lausanne,Switzerland, Anglo AmericanAAL.L Chief Executive Officer MarkCutifani said palladium, whose price hit record high this month,was a "bubble". * Spot palladium XPD= was down 0.2 percent at $1,441.49per ounce at 1335 GMT, after hitting its lowest since Feb. 18 at$1,436 earlier in the session. * China's industrial firms posted their worst slump inprofits since late 2011 in the first two months of this year,data showed on Wednesday, as increasing strains on the economyin the face of slowing demand at home and abroad took a toll onbusinesses.
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* At the FT Commodities Global Summit in Lausanne,Switzerland, Anglo AmericanAAL.L Chief Executive Officer MarkCutifani said palladium, whose price hit record high this month,was a "bubble". * Spot palladium XPD= was down 0.2 percent at $1,441.49per ounce at 1335 GMT, after hitting its lowest since Feb. 18 at$1,436 earlier in the session. * Spot gold XAU= was 0.1 percent higher at $1,310.48 perounce.
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6525.0
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2019-03-27 00:00:00 UTC
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Southwest trims first quarter outlook after 737 MAX groundings
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https://www.nasdaq.com/articles/southwest-trims-first-quarter-outlook-after-737-max-groundings-2019-03-27
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By Rachit Vats and Sanjana Shivdas
March 27 () - Southwest Airlines Co on Wednesday was the first major U.S. airline to formally cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service.
The Dallas, Texas-based airline, which has struggled with maintenance problems and a harsh U.S. winter, estimates it will have canceled 9,400 flights between mid-February and March 31, reducing growth in its number of available seats to just 1 percent compared to a year ago.
Overall it estimated it would lose $150 million in revenue in the quarter compared to previous expectations.
"(We) experienced softness in passenger demand and bookings related to the government shutdown, resulting in an estimated $60 million negative revenue impact in first quarter 2019," Southwest said.
"Trends have also been negatively impacted by more winter weather disruptions than expected, unscheduled maintenance disruptions, further softness in leisure-oriented passenger demand and yields, and the MAX groundings."
Southwest also now estimates first-quarter unit costs to increase about 10 percent, compared with its previous forecast of about 6 percent because of flight cancellations. This figure excludes fuel costs and profit-sharing expenses.
U.S. airlines and manufacturers, along with Wall Street, have been slow to estimate losses from the fallout of the Ethiopian Airlines crash on March 10, which killed 157 and led to the worldwide grounding of Boeing's new MAX jets.
Southwest said of its expected cancellations, about 3,800 would be weather-related and about 2,800 due to unscheduled maintenance disruptions and the grounding of the 737 MAX 8.
Its larger rival, American Airlines, has so far said only that it was cancelling around 90 flights per day as a result of the grounding of its own 24 Boeing 737 MAX planes. No. 3 U.S. carrier United Airlines has 14 of the planes.
United Airlines and Air Canada had earlier warned of a hit to their business due to the groundings, with the Canadian carrier suspending its 2019 financial forecasts.
"The impacts associated with the MAX are contained to Southwest, American, and United, though are most acute for Southwest per today's update," Morgan Stanley analyst Rajeev Lalwani said.
Airlines shares, including those of Southwest, were up in late afternoon trading on optimism that the worst is over for the 737 MAX now that Boeing has put forward a plan for fixing the aircraft.
TOUGH APRIL FOR AIRLINES
Boeing is this week briefing airlines on software and training updates for the MAX, with more than 200 airline pilots, technical experts and regulators from around the world due to visit the Renton, Washington, facility where the 737 is assembled.
As well as approval from the Federal Aviation Administration, any MAX software fixes will need a green light from governments around the world, which could take months.
While shares of the world's biggest plane manufacturer have fallen around 12 percent since the March 10 crash, Wall Street has been slow to predict major financial implications.
"(Our) base case is a multiple-month grounding punctuated by a manageable fix; meaning the stock can resume its move into the $400s with a path to more than $500," analysts from U.S. bank Citi said.
Another analyst, Cai von Rumohr, said most of the immediate impact on airlines was likely to be in March and April given the leisure-oriented spring break travel period.
"We still see a tough Q1, marred by the government shutdown, weather, and MAX grounding; and Q2 will be affected through at least April, probably longer," he said.
Boeing shares were down about 1 percent at $367.82 on Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Dallas, Texas-based airline, which has struggled with maintenance problems and a harsh U.S. winter, estimates it will have canceled 9,400 flights between mid-February and March 31, reducing growth in its number of available seats to just 1 percent compared to a year ago. Airlines shares, including those of Southwest, were up in late afternoon trading on optimism that the worst is over for the 737 MAX now that Boeing has put forward a plan for fixing the aircraft. While shares of the world's biggest plane manufacturer have fallen around 12 percent since the March 10 crash, Wall Street has been slow to predict major financial implications.
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"(We) experienced softness in passenger demand and bookings related to the government shutdown, resulting in an estimated $60 million negative revenue impact in first quarter 2019," Southwest said. "Trends have also been negatively impacted by more winter weather disruptions than expected, unscheduled maintenance disruptions, further softness in leisure-oriented passenger demand and yields, and the MAX groundings." While shares of the world's biggest plane manufacturer have fallen around 12 percent since the March 10 crash, Wall Street has been slow to predict major financial implications.
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By Rachit Vats and Sanjana Shivdas March 27 () - Southwest Airlines Co on Wednesday was the first major U.S. airline to formally cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service. U.S. airlines and manufacturers, along with Wall Street, have been slow to estimate losses from the fallout of the Ethiopian Airlines crash on March 10, which killed 157 and led to the worldwide grounding of Boeing's new MAX jets. Boeing is this week briefing airlines on software and training updates for the MAX, with more than 200 airline pilots, technical experts and regulators from around the world due to visit the Renton, Washington, facility where the 737 is assembled.
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"Trends have also been negatively impacted by more winter weather disruptions than expected, unscheduled maintenance disruptions, further softness in leisure-oriented passenger demand and yields, and the MAX groundings." Southwest also now estimates first-quarter unit costs to increase about 10 percent, compared with its previous forecast of about 6 percent because of flight cancellations. Boeing shares were down about 1 percent at $367.82 on Wednesday.
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6526.0
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2019-03-27 00:00:00 UTC
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PRECIOUS-Palladium tumbles 7 pct as stunning rally hits buffers
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https://www.nasdaq.com/articles/precious-palladium-tumbles-7-pct-stunning-rally-hits-buffers-2019-03-27
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* Palladium drops to $1,444.51/oz, lowest since Feb. 18
* Anglo American CEO calls palladium a "bubble"
* Gold slips 0.4 percent to $1,310.56 /oz
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds quotes)
By K. Sathya Narayanan and Peter Hobson
March 27 (Reuters) - Palladium prices plummeted around 7percent on Wednesday, the biggest daily percentage drop in morethan two years, as investors worried that prices had risen toofar too fast and breaks below technical levels triggeredautomatic selling.
Palladium XPD= , used to curb harmful emissions fromvehicle engines, had almost doubled to a record high of$1,620.52 an ounce last week from $832 in August last year.
But it was down 6.7 percent at $1,444.51 an ounce at 2:13 pmest (1813 GMT), its second day of steep losses and the biggestplunge since January 2017.
Helping trigger the declines were comments by chiefexecutive of miner Anglo AmericanAAL.L , who said palladiumwas a "bubble" and auto makers who account for some 80 percentof demand could replace the metal with cheaper platinum, saidICBC Standard analyst Marcus Garvey.
But Garvey said prices were likely to end the year around$1,500.
"It's not the beginning of a huge re-evaluation ... youstill have a market that is fundamentally in industrialdeficit," he said, adding that substitution of palladium forplatinum is some time away and it will be gradual if it happens.
The price fall gained momentum as palladium broke belowtechnical levels, triggering automated selling, a trader said.
Palladium fell out of a steep upward trend channel and belowits 50-day moving average for the first time since August.
Investors were also happy to sell metal for a profit afterthe rally, said Tai Wong, head of base and precious metalsderivatives trading at BMO.
Some analysts had warned that prices could not sustain theirhigh levels, particularly as auto sales have weakened in keymarkets including Europe and China, meaning car makers may needless metal.
Concerns over the health of the global economy pushed downworld stock markets on Wednesday. MKTS/GLOB
"It seems that global recession fears start to hurtpalladium as well," Commerzbank analyst Carsten Fritsch said.
The gloomy economic outlook offered only limited support togold XAU= , traditionally seen as a safe investment in times ofuncertainty, which dipped 0.4 percent to $1,310.56 an ounce.
A stronger dollar helped push prices lower by making bullionmore expensive for non-U.S. buyers. USD/US/
Gold had on Monday risen to $1,324.32, the highest in morethan three weeks.
U.S. gold futures GCv1 settled down 0.3 percent at$1,310.4 per ounce.
Investors were looking ahead to the latest round ofChina-U.S. trade negotiations in Beijing on Thursday, as well asa fraught week for the UK as Prime Minister Theresa May attemptsto push through her twice-rejected Brexit deal.
Silver XAG= was down 0.9 percent at $15.29 an ounce andplatinum XPT= was 0.1 percent lower at $854 an ounce.
(Reporting by K. Sathya Narayanan and Swati Verma in Bengaluru;Editing by Shreejay Sinha and Diane Craft) ((Sathya.Narayanan@thomsonreuters.com; within U.S. +1 651 8485832, outside U.S. +91 80 6749 3226/1298; Reuters Messaging:sathya.narayanan.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Helping trigger the declines were comments by chiefexecutive of miner Anglo AmericanAAL.L , who said palladiumwas a "bubble" and auto makers who account for some 80 percentof demand could replace the metal with cheaper platinum, saidICBC Standard analyst Marcus Garvey. Some analysts had warned that prices could not sustain theirhigh levels, particularly as auto sales have weakened in keymarkets including Europe and China, meaning car makers may needless metal. Investors were looking ahead to the latest round ofChina-U.S. trade negotiations in Beijing on Thursday, as well asa fraught week for the UK as Prime Minister Theresa May attemptsto push through her twice-rejected Brexit deal.
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Helping trigger the declines were comments by chiefexecutive of miner Anglo AmericanAAL.L , who said palladiumwas a "bubble" and auto makers who account for some 80 percentof demand could replace the metal with cheaper platinum, saidICBC Standard analyst Marcus Garvey. * Palladium drops to $1,444.51/oz, lowest since Feb. 18 * Anglo American CEO calls palladium a "bubble" * Gold slips 0.4 percent to $1,310.56 /oz * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds quotes) By K. Sathya Narayanan and Peter Hobson March 27 (Reuters) - Palladium prices plummeted around 7percent on Wednesday, the biggest daily percentage drop in morethan two years, as investors worried that prices had risen toofar too fast and breaks below technical levels triggeredautomatic selling. The price fall gained momentum as palladium broke belowtechnical levels, triggering automated selling, a trader said.
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Helping trigger the declines were comments by chiefexecutive of miner Anglo AmericanAAL.L , who said palladiumwas a "bubble" and auto makers who account for some 80 percentof demand could replace the metal with cheaper platinum, saidICBC Standard analyst Marcus Garvey. * Palladium drops to $1,444.51/oz, lowest since Feb. 18 * Anglo American CEO calls palladium a "bubble" * Gold slips 0.4 percent to $1,310.56 /oz * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds quotes) By K. Sathya Narayanan and Peter Hobson March 27 (Reuters) - Palladium prices plummeted around 7percent on Wednesday, the biggest daily percentage drop in morethan two years, as investors worried that prices had risen toofar too fast and breaks below technical levels triggeredautomatic selling. Silver XAG= was down 0.9 percent at $15.29 an ounce andplatinum XPT= was 0.1 percent lower at $854 an ounce.
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Helping trigger the declines were comments by chiefexecutive of miner Anglo AmericanAAL.L , who said palladiumwas a "bubble" and auto makers who account for some 80 percentof demand could replace the metal with cheaper platinum, saidICBC Standard analyst Marcus Garvey. * Palladium drops to $1,444.51/oz, lowest since Feb. 18 * Anglo American CEO calls palladium a "bubble" * Gold slips 0.4 percent to $1,310.56 /oz * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds quotes) By K. Sathya Narayanan and Peter Hobson March 27 (Reuters) - Palladium prices plummeted around 7percent on Wednesday, the biggest daily percentage drop in morethan two years, as investors worried that prices had risen toofar too fast and breaks below technical levels triggeredautomatic selling. U.S. gold futures GCv1 settled down 0.3 percent at$1,310.4 per ounce.
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6527.0
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2019-03-27 00:00:00 UTC
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Boeing rolls out software fix to defend 737 MAX franchise
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https://www.nasdaq.com/articles/boeing-rolls-out-software-fix-defend-737-max-franchise-2019-03-27
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By Eric M. Johnson and David Shepardson
SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months.
Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency.
A Boeing official in Seattle said on Wednesday the timing of the software upgrade was "100 percent independent of the timing of the Ethiopian accident," and the company was taking steps to make the anti-stall system "more robust."
There was no need to overhaul Boeing's regulatory relationship with the U.S. Federal Aviation Administration (FAA) now, the company said.
"We are going to do everything that we can do to ensure that accidents like these never happen again," Mike Sinnett, vice president for product strategy and future airplane development, told reporters.
The FAA said it had not reviewed or certified the software upgrade yet. The FAA has agreed to significantly improve its oversight of organizations performing certifications on its behalf by July, U.S. Transportation Department Inspector General Calvin Scovel told a Senate panel on Wednesday.
U.S. Transportation Secretary Elaine Chao and some lawmakers on Wednesday questioned why Boeing did not require safety features on its top-selling plane that might have prevented the crashes.
Executives with U.S. airlines welcomed Boeing's moves, but want U.S. regulators to sign off on the upgrade.
Southwest Airlines Co, which on Wednesday became the first major airline to formally cut its financial outlook for the year after being forced to pull its MAX fleet of 34 jets out of service, supported Boeing's decision.
"Boeing's software update appears to add yet another layer of safety to the operation of the MAX aircraft," Southwest's certificate chief pilot, Bob Waltz, said.
Members of the Allied Pilots Association, which represents pilots of American Airlines Group Inc, the largest U.S. carrier, were among the 200 airline customers and others who spent the day at Boeing getting details.
"With the software enhancements, we now have several layers of protection," American Airlines Captain Roddy Guthrie told reporters.
He said he was confident, however, flying the 373 MAX in its current state. It could take two weeks after new training protocols are approved to train all American pilots, Guthrie said.
The certification process should not be rushed, the association said in a statement earlier on Wednesday. The fix should be fully vetted and take into account any further information from an investigation into the Ethiopian Airlines crash, the association said.
United Airlines vice president Michael Quiello said the airline was optimistic about the software update, but was counting on the FAA to certify the change.
Airline stocks turned positive after Boeing unveiled the software fix. CFRA analyst Jim Corridore, who has a "buy" rating on Boeing, said news from the company and the Washington hearing were positive steps toward getting the MAX jets airborne again.
EXTRA COMPUTER TRAINING
Boeing, the world's largest planemaker, said the anti-stall system, which is believed to have repeatedly forced the nose lower in the accident in Indonesia last October, would only do so one time after sensing a problem, giving pilots more control.
The system will also be disabled if two airflow sensors that measure the "angle of attack," or angle of the wing to the airflow, a fundamental parameter of flight, offer widely different readings, Boeing said. reported those details earlier this week.
The anti-stall system - known as MCAS, or Maneuvering Characteristics Augmentation System - has been pinpointed by investigators as a possible cause in the fatal crashes in both Indonesia and Ethiopia.
Current 737 pilots will also have extra computer-based training following criticism that MCAS was not described in the aircraft manual.
Boeing has previously said existing cockpit procedures would cover any example of runaway controls caused by MCAS.
The changes were drawn up in response to the Lion Air crash but are seen as crucial to regaining the trust of pilots, passengers and regulators after the Ethiopia crash prompted a worldwide grounding of Boeing 737 MAX planes.
Ethiopian officials and some analysts have said the Ethiopian Airlines jet behaved in a similar pattern before crashing shortly after take-off from Addis Ababa, but that investigation is still at an early stage.
Boeing's Sinnett said the software had been through extensive testing, including flights with the FAA. However, he said he could provide no timeframe for when the 737 MAX jets would return to service.
Boeing said it would change the design of the system so that it no longer relied on a single sensor. The changes also would make standard visual warnings to the pilots if the system had stopped working. Previously, those warning messages and displays had been optional.
reported in November after the Lion Air disaster that some aviation experts believed the optional alert could have alerted engineers about mechanical faults, leading to an industry debate over whether the system should be mandatory.
Current 737 MAX pilots have criticized Boeing for not disclosing more details about MCAS initially. Sinnett said the company has added details on MCAS to its flight crew operations manual. All pilots will need to complete this training before returning to the skies, he said.
Additional reporting byTim Hepher in Paris, Tracy Rucinski in Chicago and Allison Lampert in New York; writing by Ben Klayman; editing by Grant McCool and Leslie Adler)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. The FAA has agreed to significantly improve its oversight of organizations performing certifications on its behalf by July, U.S. Transportation Department Inspector General Calvin Scovel told a Senate panel on Wednesday. Boeing, the world's largest planemaker, said the anti-stall system, which is believed to have repeatedly forced the nose lower in the accident in Indonesia last October, would only do so one time after sensing a problem, giving pilots more control.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency. "Boeing's software update appears to add yet another layer of safety to the operation of the MAX aircraft," Southwest's certificate chief pilot, Bob Waltz, said.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency. Members of the Allied Pilots Association, which represents pilots of American Airlines Group Inc, the largest U.S. carrier, were among the 200 airline customers and others who spent the day at Boeing getting details.
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The FAA said it had not reviewed or certified the software upgrade yet. It could take two weeks after new training protocols are approved to train all American pilots, Guthrie said. Current 737 pilots will also have extra computer-based training following criticism that MCAS was not described in the aircraft manual.
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6528.0
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2019-03-27 00:00:00 UTC
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Boeing rolls out software fix to defend 737 MAX franchise, awaits U.S. regulator's approval
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AAL
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https://www.nasdaq.com/articles/boeing-rolls-out-software-fix-defend-737-max-franchise-awaits-us-regulators-approval-2019
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By Eric M. Johnson and David Shepardson
SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months.
Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency.
A Boeing official in Seattle said on Wednesday the timing of the software upgrade was "100 percent independent of the timing of the Ethiopian accident," and the company was taking steps to make the anti-stall system "more robust."
There was no need to overhaul Boeing's regulatory relationship with the U.S. Federal Aviation Administration (FAA) now, the company said.
"We are going to do everything that we can do to ensure that accidents like these never happen again," Mike Sinnett, vice president for product strategy and future airplane development, told reporters.
The FAA said it had not reviewed or certified the software upgrade yet. The FAA has agreed to significantly improve its oversight of organizations performing certifications on its behalf by July, U.S. Transportation Department Inspector General Calvin Scovel told a Senate panel on Wednesday.
U.S. Transportation Secretary Elaine Chao and some lawmakers on Wednesday questioned why Boeing did not require safety features on its top-selling plane that might have prevented the crashes.
Executives with U.S. airlines welcomed Boeing's moves, but want U.S. regulators to sign off on the upgrade.
Southwest Airlines Co, which on Wednesday became the first major airline to formally cut its financial outlook for the year after being forced to pull its MAX fleet of 34 jets out of service, supported Boeing's decision.
"Boeing's software update appears to add yet another layer of safety to the operation of the MAX aircraft," Southwest's certificate chief pilot, Bob Waltz, said.
Members of the Allied Pilots Association, which represents pilots of American Airlines Group Inc, the largest U.S. carrier, were among the 200 airline customers and others who spent the day at Boeing getting details.
"With the software enhancements, we now have several layers of protection," American Airlines Captain Roddy Guthrie told reporters.
He said he was confident, however, flying the 373 MAX in its current state. It could take two weeks after new training protocols are approved to train all American pilots, Guthrie said.
The certification process should not be rushed, the association said in a statement earlier on Wednesday. The fix should be fully vetted and take into account any further information from an investigation into the Ethiopian Airlines crash, the association said.
United Airlines vice president Michael Quiello said the airline was optimistic about the software update, but was counting on the FAA to certify the change.
Airline stocks turned positive after Boeing unveiled the software fix. CFRA analyst Jim Corridore, who has a "buy" rating on Boeing, said news from the company and the Washington hearing were positive steps toward getting the MAX jets airborne again.
EXTRA COMPUTER TRAINING
Boeing, the world's largest planemaker, said the anti-stall system, which is believed to have repeatedly forced the nose lower in the accident in Indonesia last October, would only do so one time after sensing a problem, giving pilots more control.
The system will also be disabled if two airflow sensors that measure the "angle of attack," or angle of the wing to the airflow, a fundamental parameter of flight, offer widely different readings, Boeing said. reported those details earlier this week.
The anti-stall system - known as MCAS, or Maneuvering Characteristics Augmentation System - has been pinpointed by investigators as a possible cause in the fatal crashes in both Indonesia and Ethiopia.
Current 737 pilots will also have extra computer-based training following criticism that MCAS was not described in the aircraft manual.
Boeing has previously said existing cockpit procedures would cover any example of runaway controls caused by MCAS.
The changes were drawn up in response to the Lion Air crash but are seen as crucial to regaining the trust of pilots, passengers and regulators after the Ethiopia crash prompted a worldwide grounding of Boeing 737 MAX planes.
Ethiopian officials and some analysts have said the Ethiopian Airlines jet behaved in a similar pattern before crashing shortly after take-off from Addis Ababa, but that investigation is still at an early stage.
Boeing's Sinnett said the software had been through extensive testing, including flights with the FAA. However, he said he could provide no timeframe for when the 737 MAX jets would return to service.
Boeing said it would change the design of the system so that it no longer relied on a single sensor. The changes also would make standard visual warnings to the pilots if the system had stopped working. Previously, those warning messages and displays had been optional.
reported in November after the Lion Air disaster that some aviation experts believed the optional alert could have alerted engineers about mechanical faults, leading to an industry debate over whether the system should be mandatory.
Current 737 MAX pilots have criticized Boeing for not disclosing more details about MCAS initially. Sinnett said the company has added details on MCAS to its flight crew operations manual. All pilots will need to complete this training before returning to the skies, he said.
Additional reporting byTim Hepher in Paris, Tracy Rucinski in Chicago and Allison Lampert in New York; writing by Ben Klayman; editing by Grant McCool and Leslie Adler)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. The FAA has agreed to significantly improve its oversight of organizations performing certifications on its behalf by July, U.S. Transportation Department Inspector General Calvin Scovel told a Senate panel on Wednesday. Boeing, the world's largest planemaker, said the anti-stall system, which is believed to have repeatedly forced the nose lower in the accident in Indonesia last October, would only do so one time after sensing a problem, giving pilots more control.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency. "Boeing's software update appears to add yet another layer of safety to the operation of the MAX aircraft," Southwest's certificate chief pilot, Bob Waltz, said.
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By Eric M. Johnson and David Shepardson SEATTLE/WASHINGTON, March 27 () - Boeing Co on Wednesday took its most aggressive moves yet to defend its core 737 airliner franchise, saying it had developed software fixes to prevent failures of an automated flight control system that is being scrutinized after two deadly crashes in the past five months. Boeing, in the midst of one its worst crises in years, is under pressure from crash victims' families, airlines, lawmakers in Washington and regulators around the world to prove that the automated flight control systems of its 737 MAX aircraft are safe, and that pilots have the training required to override the system in an emergency. Members of the Allied Pilots Association, which represents pilots of American Airlines Group Inc, the largest U.S. carrier, were among the 200 airline customers and others who spent the day at Boeing getting details.
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The FAA said it had not reviewed or certified the software upgrade yet. It could take two weeks after new training protocols are approved to train all American pilots, Guthrie said. Current 737 pilots will also have extra computer-based training following criticism that MCAS was not described in the aircraft manual.
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6529.0
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2019-03-27 00:00:00 UTC
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PRECIOUS-Palladium slumps 6 pct; gold dips as dollar gains
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AAL
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https://www.nasdaq.com/articles/precious-palladium-slumps-6-pct-gold-dips-dollar-gains-2019-03-27
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* Palladium drops to $1,451.78/oz, lowest since Feb. 18
* Palladium a "bubble," says Anglo American CEO
* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices)
By Karthika Suresh Namboothiri
March 27 (Reuters) - Palladium slumped 6 percent onWednesday as investors booked profits after a rally to recordhighs and slowing global growth cast doubts over demand for theautocatalyst metal, while gold slipped on a stronger dollar.
Palladium XPD= fell 6 percent to $1,445 per ounce as of12:13 p.m. EDT (1548 GMT), the lowest since Feb. 18. The metalhad hit a record $1,620.52 last week.
"Net longs have stayed steady in palladium for the betterpart of six months and this surprising retreat in gold seems tohave triggered profit taking in palladium. It is a very illiquidmarket which magnifies the price moves," said Tai Wong, head ofbase and precious metals derivatives trading at BMO.
The slide pared gains from palladium's over 15 percent rallythis year fueled by a sharp supply deficit.
"It seems that global recession fears start to hurtpalladium as well," Commerzbank analyst Carsten Fritsch said.
Anglo AmericanAAL.L Chief Executive Mark Cutifani'scomment that palladium was in a market "bubble" weighed onprices.
A gauge of world stocks slipped on fears of a globaleconomic slowdown, while benchmark U.S. Treasury yields sank tofresh 15-month lows and German bond yields fell further belowzero. MKTS/GLOB
The gloomy economic scenario offered only limited support togold XAU= , which gave back early gains and dipped 0.2 percentto $1,312.67 per ounce, as the dollar rose. USD/US/urn:newsml:reuters.com:*:nL1N21E0K8urn:newsml:reuters.com:*:nL3N2193E6
"The sudden selling looks like long liquidation after goldfailed to rally in the face of sharply lower yields and the U.Sdollar has been stubbornly bid," BMO's Wong said.
The U.S. dollar index .DXY was up 0.2 percent, makingbullion more expensive for holders of their currencies. USD/
On Monday, bullion had touched $1,324.32, the highest inmore than three weeks.
U.S. gold futures GCcv1 were 0.2 percent lower at $1,312.
"Selling pressure (in gold) has been consistent ever sincegold and silver prices came off this week's high of $1,324,"said Walter Pehowich, executive vice president of investmentservices at Dillon Gage Metals.
Investors awaited the latest round of China-U.S. tradenegotiations in Beijing on Thursday, as well as British PrimeMinister Theresa May's address to Conservative lawmakers at 1700GMT, possibly to set a timetable for her departure in a finalbid to win support for her twice-rejected Brexit deal.
Silver XAG= was down 0.8 percent at $15.30 per ounce,while platinum XPT= dipped 0.1 percent to $854.56.
(Reporting by Karthika Suresh Namboothiri and Nallur Sethuramanin Bengaluru; Editing by David Gregorio and Richard Chang) ((karthikasuresh.namboothiri@thomsonreuters.com; +91 80 67490997 (If within U.S. call 651-848-5832); Reuters Messaging:karthikasuresh.namboothiri.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Anglo AmericanAAL.L Chief Executive Mark Cutifani'scomment that palladium was in a market "bubble" weighed onprices. MKTS/GLOB The gloomy economic scenario offered only limited support togold XAU= , which gave back early gains and dipped 0.2 percentto $1,312.67 per ounce, as the dollar rose. "Selling pressure (in gold) has been consistent ever sincegold and silver prices came off this week's high of $1,324,"said Walter Pehowich, executive vice president of investmentservices at Dillon Gage Metals.
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Anglo AmericanAAL.L Chief Executive Mark Cutifani'scomment that palladium was in a market "bubble" weighed onprices. * Palladium drops to $1,451.78/oz, lowest since Feb. 18 * Palladium a "bubble," says Anglo American CEO * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices) By Karthika Suresh Namboothiri March 27 (Reuters) - Palladium slumped 6 percent onWednesday as investors booked profits after a rally to recordhighs and slowing global growth cast doubts over demand for theautocatalyst metal, while gold slipped on a stronger dollar. Palladium XPD= fell 6 percent to $1,445 per ounce as of12:13 p.m. EDT (1548 GMT), the lowest since Feb. 18.
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Anglo AmericanAAL.L Chief Executive Mark Cutifani'scomment that palladium was in a market "bubble" weighed onprices. * Palladium drops to $1,451.78/oz, lowest since Feb. 18 * Palladium a "bubble," says Anglo American CEO * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices) By Karthika Suresh Namboothiri March 27 (Reuters) - Palladium slumped 6 percent onWednesday as investors booked profits after a rally to recordhighs and slowing global growth cast doubts over demand for theautocatalyst metal, while gold slipped on a stronger dollar. "Net longs have stayed steady in palladium for the betterpart of six months and this surprising retreat in gold seems tohave triggered profit taking in palladium.
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Anglo AmericanAAL.L Chief Executive Mark Cutifani'scomment that palladium was in a market "bubble" weighed onprices. * Palladium drops to $1,451.78/oz, lowest since Feb. 18 * Palladium a "bubble," says Anglo American CEO * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Adds comments, background; updates prices) By Karthika Suresh Namboothiri March 27 (Reuters) - Palladium slumped 6 percent onWednesday as investors booked profits after a rally to recordhighs and slowing global growth cast doubts over demand for theautocatalyst metal, while gold slipped on a stronger dollar. USD/US/urn:newsml:reuters.com:*:nL1N21E0K8urn:newsml:reuters.com:*:nL3N2193E6 "The sudden selling looks like long liquidation after goldfailed to rally in the face of sharply lower yields and the U.Sdollar has been stubbornly bid," BMO's Wong said.
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6530.0
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2019-03-26 00:00:00 UTC
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U.S. to overhaul air safety oversight in response to two Boeing 737 MAX crashes
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AAL
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https://www.nasdaq.com/articles/us-overhaul-air-safety-oversight-response-two-boeing-737-max-crashes-2019-03-26
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By David Shepardson and Eric M. Johnson
WASHINGTON/SEATTLE, March 26 () - The U.S. aviation regulator will significantly change its oversight approach to air safety by July following two fatal Boeing Co MAX 737 passenger plane crashes, according to written congressional testimony seen by .
At a U.S. Senate Commerce subcommittee hearing on Wednesday, the Federal Aviation Administration (FAA) acting head Dan Elwell will say the agency's oversight approach must "evolve" after the deadly crashes, according to the testimony.
Anti-stall software on the Boeing 737 MAX plane is among the leading areas of focus for investigations into the two crashes. Investigators have pointed to "clear similarities" between the crashes, putting pressure on Boeing and U.S. regulators to come up with an adequate fix.
The aviation industry has been thrown into flux by a Lion Air crash in Indonesia last October that killed 189 people and an Ethiopian Airlines disaster on March 10 that killed 157, both involving Boeing's 737 MAX single-aisle plane.
A spokesman for Ethiopia's transport ministry, which is leading an investigation in Addis Ababa, said the preliminary crash report would very likely be released this week.
Boeing's fastest-selling 737 MAX jet, with orders worth more than $500 billion at list prices, has been grounded globally by the FAA, although airlines are still allowed to fly them without passengers to move planes to other airports.
One such passenger-less Southwest Airlines Co Boeing 737 MAX 8 aircraft landed safely on Tuesday after declaring an emergency over an engine-related problem leaving Orlando, Florida, the FAA said. The issue was not related to a computer system on the 737 MAX, Southwest said.
Elwell's testimony discloses that Boeing first submitted a proposed upgrade to its anti-stall software - the Maneuvering Characteristics Augmentation System, known as MCAS - to the FAA for certification on Jan. 21.
Boeing confirmed that in a statement on Tuesday, saying verification and certification flights took place on Feb. 7 and March 12, which is within the typical testing time period. The documentation to show FAA compliance was expected at the end of the week, Boeing said.
PILOTS WELCOME CHANGE
The Allied Pilots Association, which represents American Airlines pilots, said it welcomed steps toward increased safety.
"We're also very interested in any changes to the FAA's structure and certification process that would ensure that never again would a critical system like MCAS not be transparent to pilots," the association said in a statement, highlighting some pilots' concerns that they had been unaware of the existence of MCAS on MAX aircraft they were flying.
Chief Executive Dennis Muilenburg visited Boeing'sSeattle-area facilities on Tuesday and attended at least one all-hands meeting with engineers, two people familiar with the matter said.
Boeing is this week briefing airlines on software and training updates for the MAX, with more than 200 airline pilots, technical experts and regulators from around the world due to come to the Renton, Washington, facility where the 737 is assembled.
As well as FAA approval, any MAX software fixes will need a green light from governments around the world, a process that could take months.
Boeing's software fix for the 737 MAX will prevent repeated operation of the anti-stall system and deactivate it altogether if two sensors disagree widely, two people familiar with pilot briefings told on Monday.
Upgrading an individual 737 MAX with Boeing's new software only takes about an hour per plane, though the overall process could stretch on far longer as it is rolled out across the global fleet because of stringent testing and documentation requirements by engineers and regulators, according to a senior FAA official with knowledge of the process.
Boeing shares closed down slightly on Tuesday. They have lost about 12 percent and $29 billion in market value since the crash in Ethiopia.
Representative Peter DeFazio, who chairs the U.S. House of Representatives Transportation and Infrastructure Committee, sent a letter on Tuesday to the FAA, asking it to hold an independent, third-party review of Boeing's proposed changes to the 737 MAX before it is returned to service.
The FAA's review "must be thorough, deliberative and cannot be rushed," he and Representative Rick Larsen wrote. The third party should include experts "to objectively advise" on the certification of "new and novel technology."
GRAPHIC-Investigations into the MAX 8 crashes
GRAPHIC-Ethiopian Airlines crash
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Eric M. Johnson WASHINGTON/SEATTLE, March 26 () - The U.S. aviation regulator will significantly change its oversight approach to air safety by July following two fatal Boeing Co MAX 737 passenger plane crashes, according to written congressional testimony seen by . At a U.S. Senate Commerce subcommittee hearing on Wednesday, the Federal Aviation Administration (FAA) acting head Dan Elwell will say the agency's oversight approach must "evolve" after the deadly crashes, according to the testimony. Boeing's software fix for the 737 MAX will prevent repeated operation of the anti-stall system and deactivate it altogether if two sensors disagree widely, two people familiar with pilot briefings told on Monday.
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By David Shepardson and Eric M. Johnson WASHINGTON/SEATTLE, March 26 () - The U.S. aviation regulator will significantly change its oversight approach to air safety by July following two fatal Boeing Co MAX 737 passenger plane crashes, according to written congressional testimony seen by . The aviation industry has been thrown into flux by a Lion Air crash in Indonesia last October that killed 189 people and an Ethiopian Airlines disaster on March 10 that killed 157, both involving Boeing's 737 MAX single-aisle plane. GRAPHIC-Investigations into the MAX 8 crashes GRAPHIC-Ethiopian Airlines crash The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The aviation industry has been thrown into flux by a Lion Air crash in Indonesia last October that killed 189 people and an Ethiopian Airlines disaster on March 10 that killed 157, both involving Boeing's 737 MAX single-aisle plane. Boeing is this week briefing airlines on software and training updates for the MAX, with more than 200 airline pilots, technical experts and regulators from around the world due to come to the Renton, Washington, facility where the 737 is assembled. Upgrading an individual 737 MAX with Boeing's new software only takes about an hour per plane, though the overall process could stretch on far longer as it is rolled out across the global fleet because of stringent testing and documentation requirements by engineers and regulators, according to a senior FAA official with knowledge of the process.
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By David Shepardson and Eric M. Johnson WASHINGTON/SEATTLE, March 26 () - The U.S. aviation regulator will significantly change its oversight approach to air safety by July following two fatal Boeing Co MAX 737 passenger plane crashes, according to written congressional testimony seen by . Anti-stall software on the Boeing 737 MAX plane is among the leading areas of focus for investigations into the two crashes. Elwell's testimony discloses that Boeing first submitted a proposed upgrade to its anti-stall software - the Maneuvering Characteristics Augmentation System, known as MCAS - to the FAA for certification on Jan. 21.
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6531.0
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2019-03-25 00:00:00 UTC
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Zacks.com featured expert Kevin Matras highlights: American Airlines, Atlas Air Worldwide, C&J Energy Services, Builders FirstSource and Dana
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AAL
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https://www.nasdaq.com/articles/zacks.com-featured-expert-kevin-matras-highlights%3A-american-airlines-atlas-air-worldwide
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For Immediate Release
Chicago, IL - March 25, 2019- Stocks in this week's article include American Airlines Group AAL , Atlas Air Worldwide Holdings AAWW , C&J Energy Services CJ , Builders FirstSource BLDR and Dana Inc. DAN . Kevin Matras screens for companies showing their 'first' profit and explains why they are ones to watch.
Screen of the Week written by Kevin Matras of Zacks Investment Research:
5 Stocks Basking in the Glory of Recent Analyst Upgrades
Proper guidance is often the difference between success and failure in life. The same holds true for the investing world. In the absence of proper guidance, identifying a winning stock is akin to searching for 'a needle in a haystack'. Proper guidance, as far as investing is concerned, comes from brokers, who are deemed to be experts, equipped with vast knowledge of investing.
Of the three types of brokers/analysts (sell-side, buy-side and independent) present in the investment world, sell-side analysts are most common. Various brokerage firms employ them to provide unbiased opinion to investors after thorough research. Buy-side analysts are employed by hedge funds, mutual funds etc. while the independent ones simply sell their reports to investors.
Brokers, irrespective of their type, attend company conference calls/presentations and scrutinize every detail available publicly before advising investors about their course of action. Individual investors, more often than not, do not have access to such detailed and well-researched information.
Earnings Estimate Revisions - A Proper Guide
Broker ratings are backed by sound logic and are by no means arbitrary. Since brokers closely follow the stocks in their coverage, they revise earnings estimates only after carefully examining the pros and cons of an event for the concerned company. In fact, a rating upgrade or downgrade by brokers has the potential to influence the price of the stock.
Naturally, when investors see brokers revising their estimates or recommendation on a stock, they often assume that there is something in the stock that has attracted analyst attention. In fact, a rating upgrade generally leads to stock price appreciation. Similarly, the price of a stock may plummet following a rating downgrade.
Estimates can move north for a number of reasons - favorable earnings performance, a bullish guidance, product launch or any favorable macro scenario.
For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/363090/5-stocks-basking-in-the-glory-of-recent-analyst-upgrades
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
About Screen of the Week
Zacks.com created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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American Airlines Group Inc. (AAL): Free Stock Analysis Report
Dana Incorporated (DAN): Free Stock Analysis Report
Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report
Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report
C&J Energy Services, Inc. (CJ): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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For Immediate Release Chicago, IL - March 25, 2019- Stocks in this week's article include American Airlines Group AAL , Atlas Air Worldwide Holdings AAWW , C&J Energy Services CJ , Builders FirstSource BLDR and Dana Inc. DAN . Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. Screen of the Week written by Kevin Matras of Zacks Investment Research: 5 Stocks Basking in the Glory of Recent Analyst Upgrades Proper guidance is often the difference between success and failure in life.
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For Immediate Release Chicago, IL - March 25, 2019- Stocks in this week's article include American Airlines Group AAL , Atlas Air Worldwide Holdings AAWW , C&J Energy Services CJ , Builders FirstSource BLDR and Dana Inc. DAN . Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. For the rest of this Screen of the Week article please visit Zacks.com at: https://www.zacks.com/stock/news/363090/5-stocks-basking-in-the-glory-of-recent-analyst-upgrades Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. For Immediate Release Chicago, IL - March 25, 2019- Stocks in this week's article include American Airlines Group AAL , Atlas Air Worldwide Holdings AAWW , C&J Energy Services CJ , Builders FirstSource BLDR and Dana Inc. DAN . Screen of the Week written by Kevin Matras of Zacks Investment Research: 5 Stocks Basking in the Glory of Recent Analyst Upgrades Proper guidance is often the difference between success and failure in life.
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For Immediate Release Chicago, IL - March 25, 2019- Stocks in this week's article include American Airlines Group AAL , Atlas Air Worldwide Holdings AAWW , C&J Energy Services CJ , Builders FirstSource BLDR and Dana Inc. DAN . Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016.
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6532.0
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2019-03-25 00:00:00 UTC
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BA Stock Remains a Strong Buy as Ethiopian Airlines Backs Boeing
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AAL
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https://www.nasdaq.com/articles/ba-stock-remains-strong-buy-ethiopian-airlines-backs-boeing-2019-03-25
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Boeing BA shares had been on a bit of a decline before the deadly Ethiopian Airlines crash involving the aerospace power's 737 MAX aircraft. Despite the deadly incident and the current investigation into the cause of the Ethiopian crash, Boeing stock remains a strong buy and its shares popped over 1.2% Monday on the back of some seemingly positive news.
Recent News
A Boeing 737 MAX aircraft crashed shortly after takeoff on March 10, which killed all 157 people on board. Similarities to an October Lion Air crash of the same new Boeing model led to the grounding of 737 MAX planes. There is currently an investigation underway into the cause of the accident. Investors should note that Boeing met with American Airlines AAL , Southwest Airlines LUV , and United Airlines UAL over the weekend in order to review software upgrades for the 737 MAX fleet, according to multiple reports .
Boeing plans on meeting with regulators and other key players in the coming days to discuss the next steps of the aircraft that the firm has said it has "full confidence in." Nonetheless, BA on March 13 "determined-out of an abundance of caution and in order to reassure the flying public of the aircraft's safety- to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
Meanwhile, Ethiopian Airlines' chief executive recently said that his company still has faith in BA despite questions over the safety of its 737 MAX. "Let me be clear: Ethiopian Airlines believes in Boeing. They have been a partner of ours for many years," Ethiopian Airlines CEO wrote in a statement .
The chief executive also noted that his company is working with investigators in Ethiopia, the U.S., and elsewhere to find out what went wrong. On top of that, Tewolde Gebremariam seemed to rebuke some reports that said its pilots were unprepared to fly Boeing's 737 MAX . "Contrary to some media reports, our pilots who fly the new model were trained on all appropriate simulators," Tewolde said.
Outlook
Clearly, there is still uncertainty surrounding the incident. But shares of BA popped 1.2% to roughly $366 per share through morning trading Monday, which represented an 18% downturn from its 52-week high of $446 a share. Meanwhile, other Dow giants, including Caterpillar CAT and Home Depot HD , saw their stock prices jump as well.
We can also see that the Chicago-based firm has crushed its peer group over the last three years. This group includes European rival Airbus EADSY , and Lockheed Martin LMT , Northrop Grumman NOC , and General Dynamics GD .
Looking ahead, Boeing provided new commercial jet delivery guidance between 895 and 905 fro 2019, which would blow away 2018's previous record of 806. Boeing also said that its Dreamliner jets have remained in high demand from the likes American Airlines and United Airlines.
Meanwhile, Boeing's Q1 2019 revenue is projected to pop 8.3% to reach $25.32 billion, based on our current Zacks Consensus Estimate. This would fall short of Q4's 14% expansion, but investors should remember that Boeing soared well above our fourth-quarter estimate. Plus, Boeing's full-year 2019 revenues are projected to climb 9.9% to $111.16 billion.
At the bottom of the income statement, Boeing's adjusted Q1 earnings are expected to surge 16.8% to reach $4.25 a share. Better yet, the company's Q2 EPS figure is projected to skyrocket nearly 45%, with full-year earnings expected to climb 25.7%. And the company has seen zero negative earnings estimate revision activity since the Ethiopian Airlines crash. This helps signal that analysts don't expect the incident to have any material impact on Boeing's earnings-at least at this time.
The chart below shows that Boeing's earnings estimate revision activity has been pretty positive over the last 60 days, especially for fiscal 2019 and 2020.
Bottom Line
Boeing currently sports a Zacks Rank #1 (Strong Buy) based in large part on its positive earnings revision activity. BA also rocks a "B" grade for Growth and raised its Q1 2019 dividend payout by 20% to $2.055 a share, up from $1.71 a share last year.
Furthermore, Boeing stock is trading at 17.4X forward 12-month Zacks Consensus EPS estimates. This marks a discount compared to its two-year high of 30.6X and its two-year median of 20.1X and helps us see that BA's valuation appears solid. In the end, BA remains a stock worth considering, and the recent selloff might even make it more attractive.
Today's Best Stocks from Zacks
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Southwest Airlines Co. (LUV): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
United Continental Holdings, Inc. (UAL): Free Stock Analysis Report
General Dynamics Corporation (GD): Free Stock Analysis Report
The Boeing Company (BA): Free Stock Analysis Report
Lockheed Martin Corporation (LMT): Free Stock Analysis Report
Airbus Group (EADSY): Free Stock Analysis Report
Northrop Grumman Corporation (NOC): Free Stock Analysis Report
The Home Depot, Inc. (HD): Free Stock Analysis Report
Caterpillar Inc. (CAT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors should note that Boeing met with American Airlines AAL , Southwest Airlines LUV , and United Airlines UAL over the weekend in order to review software upgrades for the 737 MAX fleet, according to multiple reports . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report To read this article on Zacks.com click here. Despite the deadly incident and the current investigation into the cause of the Ethiopian crash, Boeing stock remains a strong buy and its shares popped over 1.2% Monday on the back of some seemingly positive news.
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Investors should note that Boeing met with American Airlines AAL , Southwest Airlines LUV , and United Airlines UAL over the weekend in order to review software upgrades for the 737 MAX fleet, according to multiple reports . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report To read this article on Zacks.com click here. This group includes European rival Airbus EADSY , and Lockheed Martin LMT , Northrop Grumman NOC , and General Dynamics GD .
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Investors should note that Boeing met with American Airlines AAL , Southwest Airlines LUV , and United Airlines UAL over the weekend in order to review software upgrades for the 737 MAX fleet, according to multiple reports . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report To read this article on Zacks.com click here. Despite the deadly incident and the current investigation into the cause of the Ethiopian crash, Boeing stock remains a strong buy and its shares popped over 1.2% Monday on the back of some seemingly positive news.
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Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report General Dynamics Corporation (GD): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Airbus Group (EADSY): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report The Home Depot, Inc. (HD): Free Stock Analysis Report Caterpillar Inc. (CAT): Free Stock Analysis Report To read this article on Zacks.com click here. Investors should note that Boeing met with American Airlines AAL , Southwest Airlines LUV , and United Airlines UAL over the weekend in order to review software upgrades for the 737 MAX fleet, according to multiple reports . Despite the deadly incident and the current investigation into the cause of the Ethiopian crash, Boeing stock remains a strong buy and its shares popped over 1.2% Monday on the back of some seemingly positive news.
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6533.0
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2019-03-24 00:00:00 UTC
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Ethiopian Airlines questions Boeing's "aggressive" software
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AAL
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https://www.nasdaq.com/articles/ethiopian-airlines-questions-boeings-aggressive-software-2019-03-24
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nan
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nan
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By Jason Neely
ADDIS ABABA, March 24 () - An Ethiopian Airlines executive questioned whether Boeing had told pilots enough about "aggressive" software that pushes a plane's nose down, a focus of investigation into a deadly crash in Ethiopia this month.
Comments by the CEO and vice president of the airline this weekend will fuel a debate over the safety of Boeing's 737 MAX aircraft, two of which have crashed in similar circumstances in the last five months.
Attention has focused on software called Maneuver Characteristics Augmentation System, or MCAS, and the sensors that activate it. MCAS pushes the plane's nose down if it believes it is ascending at too steep an angle.
"After the crash it came to our attention that the system is aggressive," Yohannes Hailemariam, vice president for flight operations at Ethiopian, told local reporters speaking in the Amharic language.
"It gives a message of stalling and it takes immediate action which is faster than the action which pilots were briefed to take by Boeing," said Yohannes, himself a pilot with over 30 years of experience, including flying Boeing's 777 and 787.
Boeing has repeatedly refused to comment on the crash citing rules set out by the Montreal-based International Civil Aviation Organization (ICAO) which limit what those involved, other than the airline, say during a crash investigation.
LOW ALTITUDE
The Ethiopian Airlines crash and an October crash by Indonesia'sLion Air killed 346 people in total and sparked the biggest crisis in decades for Boeing.
The company has lost about $28 billion from its market share and the MAX -- its best selling plane ever -- is now grounded with questions over orders worth more than $500 billion.
If MCAS activates at low altitude, it gives pilots little time to react, Yohannes said. Both crashes involving the 737 MAX 8 happened minutes after take-off.
Yohannes noted that the manufacturer had issued a bulletin to the industry after the Lion Air crash.
"All pilots and operators knew about MCAS after Boeing disclosed that," he said.
"The bulletin shows procedures for how to stop it when this happens, but it doesn't have training."
The airline followed up with computer-based training which took cockpit crew one to two hours, Yohannes said.
ORDERS IN DOUBT
Teams from the three U.S. airlines that own 737 MAX jets were also heading to Boeing's factory in Renton, Washington over the weekend to review a software upgrade.
In a sign of the effect on Boeing's business, Indonesia's Garuda wants to dump a $6 billion order for 49 of the grounded planes.
Garuda rival Lion Air is also weighing what to do its order - 190 Boeing jets worth $22 billion at list prices.
At the same news conference, Ethiopia Airline's chief executive rejected media reports that optional equipment for Boeing 737 MAX planes could have prevented this month's crash.
Boeing offered airlines an optional indicator to show if two sensors showing the steepness of the ascent - the so-called "angle of attack" sensors - disagreed with each other, which would indicate a faulty sensor.
Some media reports have questioned whether having this installed may have helped the Ethiopian Airlines cockpit crew regain control of flight ET 302.
CEO Tewolde Gebremariam said it was important not to confuse safety-critical equipment with optional items.
"When Boeing supplies aircraft there are items which are mandatory for safety and then there are optional items," he said. "The angle of attack indicator was on the optional list along with the inflight entertainment system."
He echoed the words of Norwegian Air which said it had not selected the cockpit light warning of discrepancies between angle of attack sensors for its fleet of 18 MAX 8 aircraft.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Jason Neely ADDIS ABABA, March 24 () - An Ethiopian Airlines executive questioned whether Boeing had told pilots enough about "aggressive" software that pushes a plane's nose down, a focus of investigation into a deadly crash in Ethiopia this month. "After the crash it came to our attention that the system is aggressive," Yohannes Hailemariam, vice president for flight operations at Ethiopian, told local reporters speaking in the Amharic language. At the same news conference, Ethiopia Airline's chief executive rejected media reports that optional equipment for Boeing 737 MAX planes could have prevented this month's crash.
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By Jason Neely ADDIS ABABA, March 24 () - An Ethiopian Airlines executive questioned whether Boeing had told pilots enough about "aggressive" software that pushes a plane's nose down, a focus of investigation into a deadly crash in Ethiopia this month. "After the crash it came to our attention that the system is aggressive," Yohannes Hailemariam, vice president for flight operations at Ethiopian, told local reporters speaking in the Amharic language. At the same news conference, Ethiopia Airline's chief executive rejected media reports that optional equipment for Boeing 737 MAX planes could have prevented this month's crash.
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By Jason Neely ADDIS ABABA, March 24 () - An Ethiopian Airlines executive questioned whether Boeing had told pilots enough about "aggressive" software that pushes a plane's nose down, a focus of investigation into a deadly crash in Ethiopia this month. At the same news conference, Ethiopia Airline's chief executive rejected media reports that optional equipment for Boeing 737 MAX planes could have prevented this month's crash. Boeing offered airlines an optional indicator to show if two sensors showing the steepness of the ascent - the so-called "angle of attack" sensors - disagreed with each other, which would indicate a faulty sensor.
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Comments by the CEO and vice president of the airline this weekend will fuel a debate over the safety of Boeing's 737 MAX aircraft, two of which have crashed in similar circumstances in the last five months. Garuda rival Lion Air is also weighing what to do its order - 190 Boeing jets worth $22 billion at list prices. Boeing offered airlines an optional indicator to show if two sensors showing the steepness of the ascent - the so-called "angle of attack" sensors - disagreed with each other, which would indicate a faulty sensor.
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6534.0
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2019-03-22 00:00:00 UTC
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5 Stocks Basking in the Glory of Recent Analyst Upgrades
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AAL
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https://www.nasdaq.com/articles/5-stocks-basking-in-the-glory-of-recent-analyst-upgrades-2019-03-22
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nan
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Proper guidance is often the difference between success and failure in life. The same holds true for the investing world. In the absence of proper guidance, identifying a winning stock is akin to searching for 'a needle in a haystack'. Proper guidance, as far as investing is concerned, comes from brokers, who are deemed to be experts, equipped with vast knowledge of investing.
Of the three types of brokers/analysts (sell-side, buy-side and independent) present in the investment world, sell-side analysts are most common. Various brokerage firms employ them to provide unbiased opinion to investors after thorough research. Buy-side analysts are employed by hedge funds, mutual funds etc. while the independent ones simply sell their reports to investors.
Brokers, irrespective of their type, attend company conference calls/presentations and scrutinize every detail available publicly before advising investors about their course of action. Individual investors, more often than not, do not have access to such detailed and well-researched information.
Earnings Estimate Revisions - A Proper Guide
Broker ratings are backed by sound logic and are by no means arbitrary. Since brokers closely follow the stocks in their coverage, they revise earnings estimates only after carefully examining the pros and cons of an event for the concerned company. In fact, a rating upgrade or downgrade by brokers has the potential to influence the price of the stock.
Naturally, when investors see brokers revising their estimates or recommendation on a stock, they often assume that there is something in the stock that has attracted analyst attention.In fact, a rating upgrade generally leads to stock price appreciation. Similarly, the price of a stock may plummet following a rating downgrade.
Estimates can move north for a number of reasons - favorable earnings performance, a bullish guidance, product launch or any favorable macro scenario.
Framing a Winning Strategy
The above write-up clearly suggests that by following broker actions, one can arrive at a winning portfolio of stocks. Keeping this in mind, we have designed a screen to shortlist stocks based on improving analyst recommendation and upward revisions to earnings estimates over the last four weeks.
Also, since the price/sales ratio is a strong complementary valuation metric in the presence of analyst information, it has been included. The price/sales ratio takes care of the company's top line, making the strategy foolproof.
Screening Criteria
# (Up- Down Rating)/ Total (4 weeks) =Top #75 : This gives the list of top 75 companies that have witnessed net upgrades over the last four weeks.
% change in Q (1) est. (4 weeks) = Top #10 : This gives the top 10 stocks that have witnessed earnings estimate revisions over the past for weeks for the upcoming quarter.
To ensure that the strategy is a winning one, covering all bases, we have added the following screening parameters:
Price-to-Sales = Bot%10 : The lower the ratio the better, companies meeting this criteria are in bottom 10% of our universe of over 7,700 stocks with respect to this ratio.
Price greater than 5 : A stock trading below $5 will not likely create significant interest for most investors.
Average Daily Volume greater than 100,000 shares over the last 20 trading days : Volume has to be significant to ensure that these are easily traded.
Market value ($ mil) = Top #3000 : This gives us stocks that are the top 3000 if one judges by market capitalization.
Com/ADR/Canadian= Com : This takes out the ADR and Canadian stocks.
Here are five of the 10 stocks that made it through the screen:
American Airlines Group AAL operates more than 6,700 daily flights to over 330 destinations in more than 50 nations across the globe from its hubs. American Airlines is headquartered in Fort Worth, TX and carries a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for 2019 earnings has increased 3.7% in the past 60 days.
Atlas Air Worldwide HoldingsAAWW is a provider of outsourced aircraft and aviation operating services across the globe.
The company is based out of Purchase, NY and carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the current year has improved 4.9% over the past 60 days. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
C&J Energy ServicesCJ provides onshore well construction, well completion and support to oil and gas exploration and production companies. This Zacks Rank #3 company also offers complementary oilfield services. Texas-based C&J Services surpassed the Zacks Consensus Estimate in three of the trailing four quarters with the average beat being 3.9%.
Builders FirstSourceBLDR manufactures and supplies building materials, manufactured components, and construction services. The Zacks Consensus Estimate for its current-quarter earnings has moved up 57.1% in the past 60 days. The stock carries a Zacks Rank #3.
Dana IncorporatedDAN is a manufacturer and seller of driveline, sealing and thermal-management products for vehicle manufacturers. The stock carries a Zacks Rank #2. The Zacks Consensus Estimate for current-year earnings is projected to increase 2.8% on a year-over-year basis.
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge.
The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Click here to sign up for a free trial to the Research Wizard today .
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
Disclosure: Performance information for Zacks' portfolios and strategies are available at: https://www.zacks.com/performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Dana Incorporated (DAN): Free Stock Analysis Report
Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report
Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report
C&J Energy Services, Inc. (CJ): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Here are five of the 10 stocks that made it through the screen: American Airlines Group AAL operates more than 6,700 daily flights to over 330 destinations in more than 50 nations across the globe from its hubs. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. Since brokers closely follow the stocks in their coverage, they revise earnings estimates only after carefully examining the pros and cons of an event for the concerned company.
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Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. Here are five of the 10 stocks that made it through the screen: American Airlines Group AAL operates more than 6,700 daily flights to over 330 destinations in more than 50 nations across the globe from its hubs. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. Here are five of the 10 stocks that made it through the screen: American Airlines Group AAL operates more than 6,700 daily flights to over 330 destinations in more than 50 nations across the globe from its hubs. Naturally, when investors see brokers revising their estimates or recommendation on a stock, they often assume that there is something in the stock that has attracted analyst attention.In fact, a rating upgrade generally leads to stock price appreciation.
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Here are five of the 10 stocks that made it through the screen: American Airlines Group AAL operates more than 6,700 daily flights to over 330 destinations in more than 50 nations across the globe from its hubs. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Builders FirstSource, Inc. (BLDR): Free Stock Analysis Report Atlas Air Worldwide Holdings (AAWW): Free Stock Analysis Report C&J Energy Services, Inc. (CJ): Free Stock Analysis Report To read this article on Zacks.com click here. (4 weeks) = Top #10 : This gives the top 10 stocks that have witnessed earnings estimate revisions over the past for weeks for the upcoming quarter.
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6535.0
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2019-03-22 00:00:00 UTC
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U.S. lawmaker seeks Boeing whistleblowers, some MAX 737 orders in jeopardy
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AAL
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https://www.nasdaq.com/articles/us-lawmaker-seeks-boeing-whistleblowers-some-max-737-orders-jeopardy-2019-03-22
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nan
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nan
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By David Shepardson and Cindy Silviana
WASHINGTON/JAKARTA, March 22 () - A U.S. lawmaker on Friday urged current or former Boeing Co and Federal Aviation Administration (FAA) employees to come forward with any information about the certification program for the 737 MAX, which has suffered two fatal crashes in five months.
Boeing and the FAA are under global regulatory scrutiny over software and training on the signature aircraft. Boeing risked losing a $6 billion order for the jet on Friday, its first since the world's entire fleet was grounded last week.
In the United States, the chairman of the U.S. House Transportation and Infrastructure Committee Peter DeFazio urged people to use the committee's whistleblower web page.
"It is imperative we continue to ensure we have the highest level of safety for the traveling public," DeFazio said.
American Airlines pilots were preparing to test Boeing's planned software upgrade for an anti-stall system on MAX simulators this weekend, saying they want their own safety guarantees on the software fix.
The 737 MAX was Boeing's fastest selling jet before an Ethiopian Airlines crash near Addis Ababa on March 10, which followed a Lion Air crash in Indonesia on Oct. 29.
Ethiopian and French investigators have pointed to "clear similarities" between the two crashes, which killed 346 people, putting pressure on Boeing and U.S. regulators to come up with an adequate fix. No direct link has been proven between the crashes but attention has focused on whether pilots had the correct information about the "angle of attack" at which the wing slices through the air.
Ethiopia has shared limited information with foreign investigators, reported on Thursday, and an industry source said Boeing had not yet received any black box and voice recorder data.
Meanwhile, U.S. Senator Richard Blumenthal, a Democrat, on Friday raised concerns in a letter to the FAA about regulations that allow aircraft manufacturers to effectively self-certify the safety of their planes and "left the fox guarding the henhouse."
The FAA declined to comment.
The U.S. Justice Department opened a separate investigation this week. The FBI has declined comment.
Garuda CEO Ari Askhara told on Friday: "Many passengers told us they were afraid to get on a MAX 8."
However, the airline had been reconsidering its order for 49 of the narrowbody jets before the Ethiopian crash, including potentially swapping some for widebody Boeing models.
Southeast Asia faces a glut of narrowbody aircraft like the 737 MAX and rival Airbus A320neo at a time of slowing global economic growth and high fuel costs.
"They have been re-looking at their fleet plan anyway so this is an opportunity to make some changes that otherwise may be difficult to do," CAPA Centre for Aviation Chief Analyst Brendan Sobie said.
Indonesia'sLion Air has also said it might cancel 737 MAX aircraft, though industry sources say it is also struggling to absorb the number of planes on order.
RETROFITS
Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter.
Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet's computer to believe it had stalled, prompting its anti-stall system, called MCAS, repeatedly to push the plane's nose down.
Norwegian Air played down the significance of the compulsory light, saying that, according to Boeing, it would not have been able to prevent erroneous signals that Lion Air pilots received before their new 737 MAX plane crashed in October.
Boeing must be cautious with how it characterizes the safety alert, risking legal claims by saying it could have made a difference in the crash while not wanting to suggest that the retrofit is meaningless, legal experts said.
The Lion Air plane did not have the warning light installed, and Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert.
But the Ethiopian carrier, whose reputation along with Boeing's is at stake, issued a statement on Friday emphasizing the modernity of its safety and training systems, with more than $500 million invested in infrastructure in the past five years.
The Ethiopian crash has set off one of the widest inquiries in aviation history and cast a shadow over the Boeing 737 MAX model intended to be a standard for decades.
Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the FAA in coming weeks.
Experts said the change needs regulatory approval and could take weeks or months. Regulators in Europe and Canada have said they will conduct their own reviews of any new systems.
Boeing shares have fallen 14 percent since the Ethiopian crash.
GRAPHIC:Boeing 737 MAX deliveries in question interactive
GRAPHIC: Grounded 737 MAX fleet interactive
GRAPHIC:Ethiopian Airlines crash and black boxes
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Cindy Silviana WASHINGTON/JAKARTA, March 22 () - A U.S. lawmaker on Friday urged current or former Boeing Co and Federal Aviation Administration (FAA) employees to come forward with any information about the certification program for the 737 MAX, which has suffered two fatal crashes in five months. Senator Richard Blumenthal, a Democrat, on Friday raised concerns in a letter to the FAA about regulations that allow aircraft manufacturers to effectively self-certify the safety of their planes and "left the fox guarding the henhouse." Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet's computer to believe it had stalled, prompting its anti-stall system, called MCAS, repeatedly to push the plane's nose down.
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American Airlines pilots were preparing to test Boeing's planned software upgrade for an anti-stall system on MAX simulators this weekend, saying they want their own safety guarantees on the software fix. Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 737 MAX was Boeing's fastest selling jet before an Ethiopian Airlines crash near Addis Ababa on March 10, which followed a Lion Air crash in Indonesia on Oct. 29. Norwegian Air played down the significance of the compulsory light, saying that, according to Boeing, it would not have been able to prevent erroneous signals that Lion Air pilots received before their new 737 MAX plane crashed in October. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Boeing and the FAA are under global regulatory scrutiny over software and training on the signature aircraft. The Lion Air plane did not have the warning light installed, and Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert. Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the FAA in coming weeks.
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6536.0
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2019-03-22 00:00:00 UTC
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Some Boeing 737 MAX orders in jeopardy, U.S. pilots try software fix
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AAL
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https://www.nasdaq.com/articles/some-boeing-737-max-orders-jeopardy-us-pilots-try-software-fix-2019-03-22
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nan
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nan
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By David Shepardson and Cindy Silviana
WASHINGTON/JAKARTA, March 22 () - A U.S. lawmaker on Friday urged current or former Boeing Co and Federal Aviation Administration (FAA) employees to come forward with any information about the certification program for the 737 MAX, which has suffered two fatal crashes in five months.
Boeing and the FAA are under global regulatory scrutiny over software and training on the signature aircraft. Boeing risked losing a $6 billion order for the jet on Friday, its first since the world's entire fleet was grounded last week.
In the United States, the chairman of the U.S. House Transportation and Infrastructure Committee Peter DeFazio urged people to use the committee's whistleblower web page.
"It is imperative we continue to ensure we have the highest level of safety for the traveling public," DeFazio said.
American Airlines pilots were preparing to test Boeing's planned software upgrade for an anti-stall system on MAX simulators this weekend, saying they want their own safety guarantees on the software fix.
The 737 MAX was Boeing's fastest selling jet before an Ethiopian Airlines crash near Addis Ababa on March 10, which followed a Lion Air crash in Indonesia on Oct. 29.
Ethiopian and French investigators have pointed to "clear similarities" between the two crashes, which killed 346 people, putting pressure on Boeing and U.S. regulators to come up with an adequate fix. No direct link has been proven between the crashes but attention has focused on whether pilots had the correct information about the "angle of attack" at which the wing slices through the air.
Ethiopia has shared limited information with foreign investigators, reported on Thursday, and an industry source said Boeing had not yet received any black box and voice recorder data.
Meanwhile, U.S. Senator Richard Blumenthal, a Democrat, on Friday raised concerns in a letter to the FAA about regulations that allow aircraft manufacturers to effectively self-certify the safety of their planes and "left the fox guarding the henhouse."
The FAA declined to comment.
The U.S. Justice Department opened a separate investigation this week. The FBI has declined comment.
Garuda CEO Ari Askhara told on Friday: "Many passengers told us they were afraid to get on a MAX 8."
However, the airline had been reconsidering its order for 49 of the narrowbody jets before the Ethiopian crash, including potentially swapping some for widebody Boeing models.
Southeast Asia faces a glut of narrowbody aircraft like the 737 MAX and rival Airbus A320neo at a time of slowing global economic growth and high fuel costs.
"They have been re-looking at their fleet plan anyway so this is an opportunity to make some changes that otherwise may be difficult to do," CAPA Centre for Aviation Chief Analyst Brendan Sobie said.
Indonesia'sLion Air has also said it might cancel 737 MAX aircraft, though industry sources say it is also struggling to absorb the number of planes on order.
RETROFITS
Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter.
Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet's computer to believe it had stalled, prompting its anti-stall system, called MCAS, repeatedly to push the plane's nose down.
Norwegian Air played down the significance of the compulsory light, saying that, according to Boeing, it would not have been able to prevent erroneous signals that Lion Air pilots received before their new 737 MAX plane crashed in October.
Boeing must be cautious with how it characterizes the safety alert, risking legal claims by saying it could have made a difference in the crash while not wanting to suggest that the retrofit is meaningless, legal experts said.
The Lion Air plane did not have the warning light installed, and Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert.
But the Ethiopian carrier, whose reputation along with Boeing's is at stake, issued a statement on Friday emphasizing the modernity of its safety and training systems, with more than $500 million invested in infrastructure in the past five years.
The Ethiopian crash has set off one of the widest inquiries in aviation history and cast a shadow over the Boeing 737 MAX model intended to be a standard for decades.
Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the FAA in coming weeks.
Experts said the change needs regulatory approval and could take weeks or months. Regulators in Europe and Canada have said they will conduct their own reviews of any new systems.
Boeing shares have fallen 14 percent since the Ethiopian crash.
GRAPHIC:Boeing 737 MAX deliveries in question interactive
GRAPHIC: Grounded 737 MAX fleet interactive
GRAPHIC:Ethiopian Airlines crash and black boxes
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Cindy Silviana WASHINGTON/JAKARTA, March 22 () - A U.S. lawmaker on Friday urged current or former Boeing Co and Federal Aviation Administration (FAA) employees to come forward with any information about the certification program for the 737 MAX, which has suffered two fatal crashes in five months. Senator Richard Blumenthal, a Democrat, on Friday raised concerns in a letter to the FAA about regulations that allow aircraft manufacturers to effectively self-certify the safety of their planes and "left the fox guarding the henhouse." Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet's computer to believe it had stalled, prompting its anti-stall system, called MCAS, repeatedly to push the plane's nose down.
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American Airlines pilots were preparing to test Boeing's planned software upgrade for an anti-stall system on MAX simulators this weekend, saying they want their own safety guarantees on the software fix. Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The 737 MAX was Boeing's fastest selling jet before an Ethiopian Airlines crash near Addis Ababa on March 10, which followed a Lion Air crash in Indonesia on Oct. 29. Norwegian Air played down the significance of the compulsory light, saying that, according to Boeing, it would not have been able to prevent erroneous signals that Lion Air pilots received before their new 737 MAX plane crashed in October. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Boeing and the FAA are under global regulatory scrutiny over software and training on the signature aircraft. The Lion Air plane did not have the warning light installed, and Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert. Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the FAA in coming weeks.
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6537.0
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2019-03-22 00:00:00 UTC
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Boeing to mandate safety feature in MAX software upgrade
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AAL
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https://www.nasdaq.com/articles/boeing-mandate-safety-feature-max-software-upgrade-2019-03-22
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nan
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nan
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By Cindy Silviana and Terje Solsvik
JAKARTA/OSLO, March 22 () - Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets, it said on Friday, saying some passengers would be frightened to board the plane after two fatal crashes, although analysts said the deal had long been in doubt.
The news came as another 737 MAX customer, Norwegian Air, played down the significance of a move by Boeing to make a previously optional cockpit warning light compulsory.
Indonesia's national carrier Garuda is the first airline to publicly announce plans to scrap an order since the world's entire fleet of 737 MAX planes was grounded last week, following an Ethiopian Airlines crash that left 157 people dead.
"Many passengers told us they were afraid to get on a MAX 8," Garuda CEO Ari Askhara told on Friday.
However, the airline had been reconsidering its order for 49 of the narrowbody jets prior to the Ethiopian crash, including potentially swapping some for widebody Boeing models.
Southeast Asia faces a glut of narrowbody aircraft like the 737 MAX and rival Airbus A320neo at a time of slowing global economic growth and high fuel costs.
"They have been re-looking at their fleet plan anyway so this is an opportunity to make some changes that otherwise may be difficult to do," CAPA Centre for Aviation Chief Analyst Brendan Sobie said.
Indonesia'sLion Air has also said it might cancel 737 MAX aircraft, though industry sources say it is also struggling to absorb the number of planes on order.
Both crashes are still being investigated. But regulators have noted some similarities between the two, and attention has focused on whether pilots had the correct information about the "angle of attack" at which the wing slices through the air.
No direct link has been proven between the accidents.
RETROFITS
Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter.
Investigators suspect a faulty angle-of-attack reading led the doomed Lion Air jet's computer to believe it had stalled, prompting the plane's anti-stall system, called MCAS, repeatedly to push the plane's nose down.
The Lion Air plane did not have the warning light installed because it was not compulsory. Ethiopian Airlines did not immediately comment on whether its crashed plane had the alert.
But the Ethiopian carrier, whose reputation along with Boeing's is at stake, issued a statement on Friday emphasising the modernity of its safety and training systems, with more than $500 million invested in infrastructure in the past five years.
The Ethiopian crash has set off one of the widest inquiries in aviation history and cast a shadow over the Boeing 737 MAX model intended to be a standard for decades.
Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the U.S. Federal Aviation Administration (FAA) in coming weeks.
Chicago-based Boeing will also retrofit older planes with the cockpit warning light, the officials told .
Experts said it could take weeks or months to be done, and for regulators to review and approve the changes. Regulators in Europe and Canada have said they will conduct their own reviews of any new systems.
Norwegian said its 18 737 MAX jets did not have the cockpit warning light, but it would follow any recommendations made by Boeing and aviation regulations. The airline said last week it would seek compensation from Boeing for the cost of grounding its 737 MAX planes, which makes up 11 percent of its fleet.
Since the Ethiopian crash, Boeing shares have fallen 12 percent and $28 billion has been wiped off its market value.
Pressure has mounted on the company from U.S. legislators, who are also expected to question the FAA. The company faces a criminal investigation by the U.S. Justice Department as well.
Several lawsuits have already been filed on behalf of victims of the Lion Air crash referring to the Ethiopian accident. Boeing declined to comment on the lawsuits.
GRAPHIC:Boeing 737 MAX deliveries in question interactive
GRAPHIC: Grounded 737 MAX fleet interactive
GRAPHIC:Ethiopian Airlines crash and black boxes
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Cindy Silviana and Terje Solsvik JAKARTA/OSLO, March 22 () - Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets, it said on Friday, saying some passengers would be frightened to board the plane after two fatal crashes, although analysts said the deal had long been in doubt. Southeast Asia faces a glut of narrowbody aircraft like the 737 MAX and rival Airbus A320neo at a time of slowing global economic growth and high fuel costs. But the Ethiopian carrier, whose reputation along with Boeing's is at stake, issued a statement on Friday emphasising the modernity of its safety and training systems, with more than $500 million invested in infrastructure in the past five years.
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By Cindy Silviana and Terje Solsvik JAKARTA/OSLO, March 22 () - Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets, it said on Friday, saying some passengers would be frightened to board the plane after two fatal crashes, although analysts said the deal had long been in doubt. Boeing now plans to make compulsory a light to alert pilots when sensor readings of the angle of attack do not match - meaning at least one must be wrong -, according to two officials briefed on the matter. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Cindy Silviana and Terje Solsvik JAKARTA/OSLO, March 22 () - Indonesian airline Garuda plans to cancel a $6 billion order for Boeing 737 MAX jets, it said on Friday, saying some passengers would be frightened to board the plane after two fatal crashes, although analysts said the deal had long been in doubt. Indonesia's national carrier Garuda is the first airline to publicly announce plans to scrap an order since the world's entire fleet of 737 MAX planes was grounded last week, following an Ethiopian Airlines crash that left 157 people dead. GRAPHIC:Boeing 737 MAX deliveries in question interactive GRAPHIC: Grounded 737 MAX fleet interactive GRAPHIC:Ethiopian Airlines crash and black boxes The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Lion Air plane did not have the warning light installed because it was not compulsory. Boeing did not comment on the plan to make the safety feature standard, but separately said it was moving quickly to make software changes and expected the upgrade to be approved by the U.S. Federal Aviation Administration (FAA) in coming weeks. The airline said last week it would seek compensation from Boeing for the cost of grounding its 737 MAX planes, which makes up 11 percent of its fleet.
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6538.0
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2019-03-21 00:00:00 UTC
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Allegiant Partners TPG for Sunseeker Resorts Development
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AAL
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https://www.nasdaq.com/articles/allegiant-partners-tpg-for-sunseeker-resorts-development-2019-03-21
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nan
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nan
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Allegiant Travel CompanyALGT has entered into a strategic long-term partnership with TPG Sixth Street Partners for financing the development of Sunseeker Resorts Charlotte Harbor. The resort, planned by Allegiant Air, is expected to be the largest and most unique resort in the Punta Gorda area in southwest Florida.
Per the terms of the agreement, the initial commitment from TPG is $175 million for developing this waterfront resort. In fact, total investment under the partnership might increase up to $1 billion. The initial phase of this resort is expected to include around 510 hotel rooms, 189 extended-stay suite units, meeting and conference space apart from multiple restaurants, bars and retail outlets.
Notably, the huge investment intended for this project is in line with Allegiant's strategy to attract leisure travelers. Allegiant is responsible for transporting nearly 8 million leisure travelers in and out of Florida every year.
The partnership apart, Allegiant was recently in news pertaining to the 'agreement in principle' inked with International Brotherhood of Teamsters - the union representing its 34 flight dispatchers. This provisional deal will now be voted upon. The ratification procedure is expected to take place by Apr 30, 2019. Southwest Airlines LUV too recently signed an agreement in principle with its aircraft mechanics.
In fact, labor deals have been in vogue in the airline space for quite some time. Though positive on such deals, they tend to push up labor costs, thereby limiting bottom-line growth. Carriers like Alaska Air Group ALK and American Airlines AAL have seen an increase in labor costs due to deals with various labor groups.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 - 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Alaska Air Group, Inc. (ALK): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
Allegiant Travel Company (ALGT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Carriers like Alaska Air Group ALK and American Airlines AAL have seen an increase in labor costs due to deals with various labor groups. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report To read this article on Zacks.com click here. Allegiant Travel CompanyALGT has entered into a strategic long-term partnership with TPG Sixth Street Partners for financing the development of Sunseeker Resorts Charlotte Harbor.
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Carriers like Alaska Air Group ALK and American Airlines AAL have seen an increase in labor costs due to deals with various labor groups. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Carriers like Alaska Air Group ALK and American Airlines AAL have seen an increase in labor costs due to deals with various labor groups. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Carriers like Alaska Air Group ALK and American Airlines AAL have seen an increase in labor costs due to deals with various labor groups. Click to get this free report American Airlines Group Inc. (AAL): Free Stock Analysis Report Alaska Air Group, Inc. (ALK): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report Allegiant Travel Company (ALGT): Free Stock Analysis Report To read this article on Zacks.com click here. Per the terms of the agreement, the initial commitment from TPG is $175 million for developing this waterfront resort.
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6539.0
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2019-03-21 00:00:00 UTC
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Buy Boeing and Other Aerospace-Defense Stocks Despite Trade War Pull Back?
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AAL
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https://www.nasdaq.com/articles/buy-boeing-and-other-aerospace-defense-stocks-despite-trade-war-pull-back-2019-03-21
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nan
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nan
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Aerospace-Defense
Aerospace and Defense are far from mature with innovation being the bedrock for this industry. I see only growth for those companies leading in this space. Over the past year, this industry's equity prices have been up and down ending up close to flat for the year. I think that this underperforming industry has an enormous amount of potential for growth in 2019 as trade tensions lighten. Defense contracts being a hefty portion of revenues gives investors in this space a bit more security as well.
Boeing BA
Boeing, the largest aircraft manufacturer in the world, was recently devastated by two Boeing 737 MAX crashes within five months, with the most recent accident on March 10 th causing a 15% drop in stock price. There is still litigation concerning these crashes underway that may have a material effect on the stock price (if the 15% drop didn't already price this in). This drop I believe has given investors a buying opportunity. Boeing has already made many steps to resolve any underlying issues with the aircraft and airlines like Southwest LUV , American AAL , and United UAL are still flying the 737 MAX, confident the problem isn't systemic.
Over the last two years, BA's bottom line has risen 53% on a year over year average with increasing margins. In the Net Income BNRI (adjusted net income) graph below you can see that profits have never been higher. This lean operating company has also significantly grown its free cash flow to over $13 billion at the end of 2018 giving Boeing a considerable amount of financial flexibility for acquisition and internal innovation/growth.
Boeing is currently trading at an 18.10 price to earnings ratio (P/E) which is a very reasonable valuation considering this multiple got as high as 30.63 in January of last year before trade tensions hit the fan (shown on the graph below). With Boeing being the US' largest exporter its valuation got walloped when the "trade war" with China began. Every day the tensions seem to be diminishing, with a deal looming on the horizon I am confident that a resolution is near. Getting in before this multiple adjusts up to pre-trade war levels could turn out to be a very profitable trade. With lowered multiples and raising EPS, this has placed the continuously profitable company as Zacks Rank #1 (Strong Buy).
Lockheed-Martin LMT
Lockheed Martin is Boeings biggest competitor for government aerospace contracts being the largest defense contractor in the world. LMT has a niche portfolio of military aircraft that has won them many government contracts; most notably their F-35 program which is considered their primary growth driver is 20% of total revenue and growing. The F-35 program is incredibly expensive though, and the US government is pressuring them to reduce costs which could negatively affect the bottom line. LMT's broader portfolio is under intense competition with almost all of their revenue coming from defense contracts. Meanwhile, competitors like Boeing who only have 22% of revenue relying on these contracts have a distinct diversification advantage. These concerns lead me to agree with Zacks Ranks #3 (Hold) for LMT.
Textron TXT
Textron is a multi-industry conglomerate that operates five segments: Bell, Textron Systems, Textron Aviation, Industrial and Finance. Over 60% of their revenue comes from their aerial transportation segments (Bell Helicopters and Textron Aviation). They have won a number of contracts this year most notably a $912 million order for 12 AH-1Z Viper attack helicopters to the Royal Bahraini Air Force.
TXT is currently trading 28% below its 52 week high that it reached in September of last year (shown below). This drop is due to the systemic issues stemming from trade tensions as well as the overall market sell-off at the end of 2018. The company shows inconsistent top and bottom line growth because of the competitive nature of the space. There have been a few upwardly adjusted EPS estimates that have pushed the stock into a Zacks Rank #2 (Buy) spot. With trade tension easing, a diverse portfolio, and EPS estimates on the rise, this buy ranking accurately reflects how I view a position in TXT.
Conclusion
Each of these three aerospace and defense stocks have a beta above 1 meaning that they will on average outperform a bull market and underperform a bear market. This high beta is a double-edged sword and should be considered before investing in any of these stocks. When a trade deal is finally made between the US and China, I am confident that these equities should all see a substantial rally because of how much each of these companies relies on exports.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
United Continental Holdings, Inc. (UAL): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Lockheed Martin Corporation (LMT): Free Stock Analysis Report
The Boeing Company (BA): Free Stock Analysis Report
Textron Inc. (TXT): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Boeing has already made many steps to resolve any underlying issues with the aircraft and airlines like Southwest LUV , American AAL , and United UAL are still flying the 737 MAX, confident the problem isn't systemic. Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report To read this article on Zacks.com click here. This lean operating company has also significantly grown its free cash flow to over $13 billion at the end of 2018 giving Boeing a considerable amount of financial flexibility for acquisition and internal innovation/growth.
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Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report To read this article on Zacks.com click here. Boeing has already made many steps to resolve any underlying issues with the aircraft and airlines like Southwest LUV , American AAL , and United UAL are still flying the 737 MAX, confident the problem isn't systemic. Lockheed-Martin LMT Lockheed Martin is Boeings biggest competitor for government aerospace contracts being the largest defense contractor in the world.
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Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report To read this article on Zacks.com click here. Boeing has already made many steps to resolve any underlying issues with the aircraft and airlines like Southwest LUV , American AAL , and United UAL are still flying the 737 MAX, confident the problem isn't systemic. Boeing BA Boeing, the largest aircraft manufacturer in the world, was recently devastated by two Boeing 737 MAX crashes within five months, with the most recent accident on March 10 th causing a 15% drop in stock price.
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Boeing has already made many steps to resolve any underlying issues with the aircraft and airlines like Southwest LUV , American AAL , and United UAL are still flying the 737 MAX, confident the problem isn't systemic. Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Textron Inc. (TXT): Free Stock Analysis Report To read this article on Zacks.com click here. Boeing is currently trading at an 18.10 price to earnings ratio (P/E) which is a very reasonable valuation considering this multiple got as high as 30.63 in January of last year before trade tensions hit the fan (shown on the graph below).
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6540.0
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2019-03-21 00:00:00 UTC
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Twilio Moves Up In Market Cap Rank, Passing American Airlines Group
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AAL
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https://www.nasdaq.com/articles/twilio-moves-market-cap-rank-passing-american-airlines-group-2019-03-21
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nan
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nan
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In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Twilio Inc (Symbol: TWLO) was identified as having a larger market cap than the smaller end of the S&P 500, for example American Airlines Group Inc (Symbol: AAL), according to The Online Investor .
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much - that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of Twilio Inc (Symbol: TWLO), the market cap is now $14.15B, versus American Airlines Group Inc (Symbol: AAL) at $14.12B.
Below is a three month price history chart comparing the stock performance of TWLO vs. AAL (Note that we have found 1 split in the TWLO split history ):
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which indices will include the stock, and which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). And ETFs that directly follow an index like the S&P 500 will only own the underlying component of that index, selling companies that lose their status as an S&P 500 company, and buying companies when they are added to the index. So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at TheOnlineInvestor.com find value to putting together these looks at comparative market capitalization daily.
Examine the full TWLO market cap history vs. the full AAL market cap history .
At the closing bell, TWLO is up about 3.8%, while AAL is up about 1.6% on the day Thursday.
The 20 Largest U.S. Companies By Market Capitalization »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Below is a three month price history chart comparing the stock performance of TWLO vs. AAL (Note that we have found 1 split in the TWLO split history ): Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Twilio Inc (Symbol: TWLO) was identified as having a larger market cap than the smaller end of the S&P 500, for example American Airlines Group Inc (Symbol: AAL), according to The Online Investor . In the case of Twilio Inc (Symbol: TWLO), the market cap is now $14.15B, versus American Airlines Group Inc (Symbol: AAL) at $14.12B.
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In the case of Twilio Inc (Symbol: TWLO), the market cap is now $14.15B, versus American Airlines Group Inc (Symbol: AAL) at $14.12B. Examine the full TWLO market cap history vs. the full AAL market cap history . In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Twilio Inc (Symbol: TWLO) was identified as having a larger market cap than the smaller end of the S&P 500, for example American Airlines Group Inc (Symbol: AAL), according to The Online Investor .
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In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Twilio Inc (Symbol: TWLO) was identified as having a larger market cap than the smaller end of the S&P 500, for example American Airlines Group Inc (Symbol: AAL), according to The Online Investor . Below is a three month price history chart comparing the stock performance of TWLO vs. AAL (Note that we have found 1 split in the TWLO split history ): Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). In the case of Twilio Inc (Symbol: TWLO), the market cap is now $14.15B, versus American Airlines Group Inc (Symbol: AAL) at $14.12B.
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In the case of Twilio Inc (Symbol: TWLO), the market cap is now $14.15B, versus American Airlines Group Inc (Symbol: AAL) at $14.12B. In the latest look at stocks ordered by largest market capitalization, Russell 3000 component Twilio Inc (Symbol: TWLO) was identified as having a larger market cap than the smaller end of the S&P 500, for example American Airlines Group Inc (Symbol: AAL), according to The Online Investor . Below is a three month price history chart comparing the stock performance of TWLO vs. AAL (Note that we have found 1 split in the TWLO split history ): Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers - much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's).
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6541.0
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2019-03-20 00:00:00 UTC
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With 737 MAX grounded, airlines face daily scheduling challenges
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AAL
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https://www.nasdaq.com/articles/737-max-grounded-airlines-face-daily-scheduling-challenges-2019-03-20
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nan
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nan
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By Tracy Rucinski and Allison Lampert
CHICAGO/MONTREAL, March 20 () - U.S. and Canadian airlines that fly the roughly 175-seat aircraft face a logistical challenge: which flights to cancel and which to cover with other planes following the global grounding of Boeing Co's 737 MAX jets.
Southwest Airlines Co and American Airlines Group Inc, the two largest MAX operators in the United States, said they have bolstered their reservation and operations teams to figure out how to spread flight cancellations across their networks, not just on MAX flights.
"We can't just cancel all of those flights, so the goal is to spread out the cancellations across our entire system to impact the least amount of customers," American Airlines spokesman Ross Feinstein said.
This means that an American Airlines flight from Miami to the Caribbean initially scheduled on a 737 MAX may now fly on a 737-800 with a similar seat configuration, while that 737-800 flight is canceled.
"It's a challenge to explain to customers who weren't previously booked on a MAX why their flight is canceled," Feinstein said.
The 737 MAX jets were grounded last week following two fatal crashes in the past five months, the causes of which are under investigation.
Southwest, the largest MAX operator in the world with 34 jets representing about 5 percent of its total fleet, is cancelling about 150 flights per day due to the grounding, but not all on MAX routes.
Southwest shares were down 2.3 percent on Wednesday and American shares fell 2.1 percent.
Steve West, Senior Director of Southwest's Operations Control, said the company is trying to cancel flights five days in advance, while looking at issues such as weather that could free up jets, like last week's snowstorm in Colorado.
Southwest and American were already grappling with a larger than normal number of out-of-service aircraft, further straining their fleets.
So far United Airlines, with 14 MAX aircraft, has not canceled any flights due to the grounding, but has had to put smaller aircraft on some routes and fly the larger 777 to places like Hawaii.
It is unclear how long the grounding will last. Deliveries are also on hold, meaning an additional hit to airlines due to receive more of the jets this year.
Boeing has over 5,000 orders for the MAX, which sold fast thanks to its higher fuel-efficiency and longer range. Now airlines face a dent to 2019 profits.
Calgary-based WestJet said it took steps prior to the MAX grounding to start protecting trans-border flights to sunny destinations that were previously scheduled to fly with the carrier's 13 MAX planes.
Meanwhile, Air Canada said on Tuesday it would remove its 24 737 MAX aircraft from its schedule until at least July 1, 2019.
"It is easier to put the aircraft back in the schedule than to pull it out," said a source familiar with the carrier's thinking, who is not allowed to publicly discuss its strategy.
GRAPHIC-Boeing 737 MAX deliveries in question
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Tracy Rucinski and Allison Lampert CHICAGO/MONTREAL, March 20 () - U.S. and Canadian airlines that fly the roughly 175-seat aircraft face a logistical challenge: which flights to cancel and which to cover with other planes following the global grounding of Boeing Co's 737 MAX jets. Steve West, Senior Director of Southwest's Operations Control, said the company is trying to cancel flights five days in advance, while looking at issues such as weather that could free up jets, like last week's snowstorm in Colorado. "It is easier to put the aircraft back in the schedule than to pull it out," said a source familiar with the carrier's thinking, who is not allowed to publicly discuss its strategy.
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Southwest, the largest MAX operator in the world with 34 jets representing about 5 percent of its total fleet, is cancelling about 150 flights per day due to the grounding, but not all on MAX routes. So far United Airlines, with 14 MAX aircraft, has not canceled any flights due to the grounding, but has had to put smaller aircraft on some routes and fly the larger 777 to places like Hawaii. Calgary-based WestJet said it took steps prior to the MAX grounding to start protecting trans-border flights to sunny destinations that were previously scheduled to fly with the carrier's 13 MAX planes.
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Southwest Airlines Co and American Airlines Group Inc, the two largest MAX operators in the United States, said they have bolstered their reservation and operations teams to figure out how to spread flight cancellations across their networks, not just on MAX flights. Southwest, the largest MAX operator in the world with 34 jets representing about 5 percent of its total fleet, is cancelling about 150 flights per day due to the grounding, but not all on MAX routes. So far United Airlines, with 14 MAX aircraft, has not canceled any flights due to the grounding, but has had to put smaller aircraft on some routes and fly the larger 777 to places like Hawaii.
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Southwest Airlines Co and American Airlines Group Inc, the two largest MAX operators in the United States, said they have bolstered their reservation and operations teams to figure out how to spread flight cancellations across their networks, not just on MAX flights. Southwest, the largest MAX operator in the world with 34 jets representing about 5 percent of its total fleet, is cancelling about 150 flights per day due to the grounding, but not all on MAX routes. So far United Airlines, with 14 MAX aircraft, has not canceled any flights due to the grounding, but has had to put smaller aircraft on some routes and fly the larger 777 to places like Hawaii.
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6542.0
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2019-03-20 00:00:00 UTC
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S.African court rules extension of wage agreement to AMCU valid and lawful
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AAL
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https://www.nasdaq.com/articles/safrican-court-rules-extension-wage-agreement-amcu-valid-and-lawful-2019-03-20
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nan
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nan
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JOHANNESBURG, March 20 () - South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said.
Sibanye had in December extended the agreement, reached the previous month with the National Union of Mineworkers, UASA and Solidarity, to all employees at its South African gold operations, including members of the Association of Mineworkers and Construction Union (AMCU).
AMCU had however rejected the extension as unscrupulous and said it would remain on strike, disputing the miner's argument that the action was illegal because of the extension.
In February it wanted to extend the strike to at least 11 other mines, including the gold and platinum operations of Anglo American, and operations of Harmony Gold and Lonmin.
But the labour court rejected AMCU's request to hold an industry-wide strike.
"We are extremely pleased with the ruling provided by the Labour Court," Sibanye-Stillwater Chief Executive Neal Froneman said in a statement.
"It provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action," Froneman added.
Froneman urged AMCU to respect the ruling and allow due processes to be followed.
AMCU was not immediately available for comment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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JOHANNESBURG, March 20 () - South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said. Sibanye had in December extended the agreement, reached the previous month with the National Union of Mineworkers, UASA and Solidarity, to all employees at its South African gold operations, including members of the Association of Mineworkers and Construction Union (AMCU). "We are extremely pleased with the ruling provided by the Labour Court," Sibanye-Stillwater Chief Executive Neal Froneman said in a statement.
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JOHANNESBURG, March 20 () - South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said. But the labour court rejected AMCU's request to hold an industry-wide strike. "It provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action," Froneman added.
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JOHANNESBURG, March 20 () - South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said. Sibanye had in December extended the agreement, reached the previous month with the National Union of Mineworkers, UASA and Solidarity, to all employees at its South African gold operations, including members of the Association of Mineworkers and Construction Union (AMCU). "It provides a clear path forward to resolving the ongoing strike in a manner which does not compromise our values or undermine our other stakeholders, who have also been negatively impacted by the AMCU strike action," Froneman added.
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JOHANNESBURG, March 20 () - South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the miner said. Sibanye had in December extended the agreement, reached the previous month with the National Union of Mineworkers, UASA and Solidarity, to all employees at its South African gold operations, including members of the Association of Mineworkers and Construction Union (AMCU). "We are extremely pleased with the ruling provided by the Labour Court," Sibanye-Stillwater Chief Executive Neal Froneman said in a statement.
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6543.0
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2019-03-20 00:00:00 UTC
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FTSE 100 clings on to gains as weaker pound supports, Inmarsat surges
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AAL
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https://www.nasdaq.com/articles/ftse-100-clings-gains-weaker-pound-supports-inmarsat-surges-2019-03-20
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nan
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nan
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By Shashwat Awasthi and Yadarisa Shabong
March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower.
However, satellite operator Inmarsat was a bright spot as it surged on a $3.3 billion takeover approach.
Sterling fell sharply after May asked the EU to delay Brexit until June 30, but a European Commission document seen by said the delay should either be several weeks shorter, to avoid a clash with European elections in May, or extend at least until the end of the year.
"That the EU would then have to unanimously approve the request - something that isn't a guarantee - is a further complication for the pound to grapple with," said Spreadex analyst Connor Campbell.
An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Blue-chip homebuilder stocks gave up between 3-4 percent.
"As long as the issue of a possible extension remains inconclusive, bank shares should continue to erode the up-rating investors accorded them," said CityIndex analyst Ken Odeluga.
The Brexit update added to woes inflicted by miners , which had slipped as iron ore prices plunged in anticipation of increased supply after Vale SA prepared to restart work at its largest iron ore mine.
Home improvement retailer Kingfisher shed 6.4 percent on its worst day in nearly a year after it reported lower full-year results and said it had started the process to find a replacement for its chief executive officer.
Investors also awaited the U.S. Federal Reserve's policy decision, in which it is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and detail a plan to end the monthly reduction of its balance sheet.
Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
Automotive fluid storage company TI Fluid Systems scaled up 12.1 percent, its biggest one-day gainon record, as strong orders boosted annual revenue.
But Keir Group tumbled 11.3 percent after its half-year underlying earnings fell and the builder slashed its interim dividend.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. Home improvement retailer Kingfisher shed 6.4 percent on its worst day in nearly a year after it reported lower full-year results and said it had started the process to find a replacement for its chief executive officer. Investors also awaited the U.S. Federal Reserve's policy decision, in which it is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and detail a plan to end the monthly reduction of its balance sheet.
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Sterling fell sharply after May asked the EU to delay Brexit until June 30, but a European Commission document seen by said the delay should either be several weeks shorter, to avoid a clash with European elections in May, or extend at least until the end of the year. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. However, satellite operator Inmarsat was a bright spot as it surged on a $3.3 billion takeover approach. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index.
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6544.0
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2019-03-20 00:00:00 UTC
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FTSE 100's winning streak broken as Brexit delay plea hits financials
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AAL
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https://www.nasdaq.com/articles/ftse-100s-winning-streak-broken-brexit-delay-plea-hits-financials-2019-03-20
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nan
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nan
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By Shashwat Awasthi and Yadarisa Shabong
March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower.
However, satellite operator Inmarsat was a bright spot as it surged on a $3.3 billion takeover approach.
Sterling fell sharply after May asked the EU to delay Brexit until June 30, but a European Commission document seen by said the delay should either be several weeks shorter, to avoid a clash with European elections in May, or extend at least until the end of the year.
"That the EU would then have to unanimously approve the request - something that isn't a guarantee - is a further complication for the pound to grapple with," said Spreadex analyst Connor Campbell.
An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Blue-chip homebuilder stocks gave up between 3-4 percent.
"As long as the issue of a possible extension remains inconclusive, bank shares should continue to erode the up-rating investors accorded them," said CityIndex analyst Ken Odeluga.
The Brexit update added to woes inflicted by miners , which had slipped as iron ore prices plunged in anticipation of increased supply after Vale SA prepared to restart work at its largest iron ore mine.
Home improvement retailer Kingfisher shed 6.4 percent on its worst day in nearly a year after it reported lower full-year results and said it had started the process to find a replacement for its chief executive officer.
Investors also awaited the U.S. Federal Reserve's policy decision, in which it is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and detail a plan to end the monthly reduction of its balance sheet.
Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
Automotive fluid storage company TI Fluid Systems scaled up 12.1 percent, its biggest one-day gainon record, as strong orders boosted annual revenue.
But Keir Group tumbled 11.3 percent after its half-year underlying earnings fell and the builder slashed its interim dividend.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. Home improvement retailer Kingfisher shed 6.4 percent on its worst day in nearly a year after it reported lower full-year results and said it had started the process to find a replacement for its chief executive officer. Investors also awaited the U.S. Federal Reserve's policy decision, in which it is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and detail a plan to end the monthly reduction of its balance sheet.
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Sterling fell sharply after May asked the EU to delay Brexit until June 30, but a European Commission document seen by said the delay should either be several weeks shorter, to avoid a clash with European elections in May, or extend at least until the end of the year. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index. Mid-cap satellite operator Inmarsat jumped 13.1 percent on its best day since June 2018 after it confirmed takeover talks with a consortium of investors that could take the company private for about $3.3 billion.
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By Shashwat Awasthi and Yadarisa Shabong March 20 () - Financial stocks and housebuilders slipped after British Prime Minister Theresa May asked the European Union to delay Brexit and caused the FTSE 100 to snap a seven-day winning streak, while a slide in sterling pulled the mid-cap index lower. However, satellite operator Inmarsat was a bright spot as it surged on a $3.3 billion takeover approach. An index of banks skidded 0.6 percent and an index of housebuilders endured their worst day in more than three weeks to be the biggest drags on the blue-chip index.
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6545.0
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2019-03-18 00:00:00 UTC
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FTSE 100 at 5-month high as pound drops amid Brexit chaos
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AAL
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https://www.nasdaq.com/articles/ftse-100-5-month-high-pound-drops-amid-brexit-chaos-2019-03-18
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nan
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nan
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By Muvija M and Shashwat Awasthi
March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support.
The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed.
"The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG.
Bercow's comments aggravated Brexit jitters as May has just a few days to push her divorce deal through if she wants to go to an EU summit on Thursday with something to offer them in return for more time.
Sterling slipped in response to the chaotic turn of events, although that boded well for FTSE 100, which books a big chunk of its earnings in the greenback.
British American Tobacco jumped nearly 3 percent while smaller peer Imperial Brands and pharmaceutical giants GlaxoSmithKline and AstraZeneca all rose.
On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday.
News-related moves were scant but buyout bids boosted banks.
German giants Deutsche Bank and Commerzbank confirming that they were in talks about a merger boosted financial stocks to levels not seen since last October.
In the broader financial sector, London-listed shares in payment processor Worldpay also surged 9.3 percent after the UK-based group agreed to be bought over by U.S. fintech group Fidelity National Information Services for about $35 billion.
Bank stocks are also on a six-day winning streak with a no-deal Brexit on March 29 seemingly off the table.
Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
Oilfield services provider Hunting rose 4 percent on the FTSE 250 index after UBS hiked its rating on stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
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Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday. Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
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By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
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By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. "The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG. JD Sports added 1.1 percent.
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6546.0
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2019-03-18 00:00:00 UTC
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Russian diamond miner Alrosa wants controlling stake to mine in Zimbabwe
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AAL
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https://www.nasdaq.com/articles/russian-diamond-miner-alrosa-wants-controlling-stake-mine-zimbabwe-2019-03-18
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nan
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nan
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By Barbara Lewis and Eric Onstad
LONDON, March 18 () - Russian state-controlled miner Alrosa will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday.
Zimbabwe is seeking to attract investment and has scrapped legislation that restricts foreign participation for some commodities. It has yet to do so for diamonds and platinum but has said that it will.
That would mean a stake of at least 51 percent, he said, adding that he would be confident of achieving that if it gets to the stage of detailed discussions on how to advance a project.
Russia, along with China, has been a political ally of Zimbabwe since the days of its independence war against British rule, and this year Zimbabwe selected Alrosa and China's Anjin Investments to partner its state diamond company.
Alrosa, the biggest diamond producer by volume, as well as Anglo American's De Beers, the biggest in value terms, both say supply will shrink in the coming years as mines, such as Rio Tinto's Argyle project, become depleted.
Laboratory-grown diamonds will add some supply. But Alrosa, like De Beers, says man-made stones are a separate market and have no re-sale value, in contrast to natural gems.
De Beers last year began marketing laboratory diamonds as jewellery for the first time, but Ivanov said that Alrosa has no interest in following suit.
The company is, however, expanding in Africa, where Zimbabwe and Angola remain under-explored.
Last year Alrosa said it was increasing its stake in Angola and Ivanov expects a deal to increase Alrosa's stake in Angola, first flagged last year, will close "in the near future". Alrosa and the Angolan government would each have a 41 percent stake, with the rest held by Chinese investors.
Ivanov said stake size is not the only consideration and in Angola the company has reached agreement on corporate governance, transparency and has established an advisory board.
Alrosa is also protecting itself against the impact of U.S. sanctions by building trading infrastructure to allow transactions in currencies other than dollars, amounting to "a couple of percent" of its business.
He said it would not be rational to switch totally from dollars because that could disort the market.
"But in case there's some geopolitical escalation, we should be able to switch to other currencies," he said, citing Indian rupees, Chinese RMB and euros.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Barbara Lewis and Eric Onstad LONDON, March 18 () - Russian state-controlled miner Alrosa will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday. Ivanov said stake size is not the only consideration and in Angola the company has reached agreement on corporate governance, transparency and has established an advisory board. Alrosa is also protecting itself against the impact of U.S. sanctions by building trading infrastructure to allow transactions in currencies other than dollars, amounting to "a couple of percent" of its business.
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Russia, along with China, has been a political ally of Zimbabwe since the days of its independence war against British rule, and this year Zimbabwe selected Alrosa and China's Anjin Investments to partner its state diamond company. De Beers last year began marketing laboratory diamonds as jewellery for the first time, but Ivanov said that Alrosa has no interest in following suit. Last year Alrosa said it was increasing its stake in Angola and Ivanov expects a deal to increase Alrosa's stake in Angola, first flagged last year, will close "in the near future".
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By Barbara Lewis and Eric Onstad LONDON, March 18 () - Russian state-controlled miner Alrosa will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday. Russia, along with China, has been a political ally of Zimbabwe since the days of its independence war against British rule, and this year Zimbabwe selected Alrosa and China's Anjin Investments to partner its state diamond company. Last year Alrosa said it was increasing its stake in Angola and Ivanov expects a deal to increase Alrosa's stake in Angola, first flagged last year, will close "in the near future".
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Alrosa, the biggest diamond producer by volume, as well as Anglo American's De Beers, the biggest in value terms, both say supply will shrink in the coming years as mines, such as Rio Tinto's Argyle project, become depleted. De Beers last year began marketing laboratory diamonds as jewellery for the first time, but Ivanov said that Alrosa has no interest in following suit. Ivanov said stake size is not the only consideration and in Angola the company has reached agreement on corporate governance, transparency and has established an advisory board.
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6547.0
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2019-03-18 00:00:00 UTC
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American Airlines Halts Venezuelan Operations: Here's Why
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AAL
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https://www.nasdaq.com/articles/american-airlines-halts-venezuelan-operations%3A-heres-why-2019-03-18
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nan
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nan
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As a result of the unrest in Venezuela, American AirlinesAAL temporarily suspended operations to the strife-torn nation. Following American Airlines' action, all major U.S.-based carriers have pulled out of the South American country.
Notably, Delta Air Lines DAL and United Airlines - the wholly-owned subsidiary of United Continental Holdings UAL - had halted their respective Venezuelan operations in 2017. Apart from U.S. carriers, international carriers like LATAM Airlines LTM too have stopped operations to Venezuela due to unfavorable conditions prevailing there.
The withdrawal of American Airlines' operations has isolated Venezuela further. The country's economy has already been in the doldrums for quite some time.
Markedly, American Airlines' action was backed by advice from its pilots' union - Allied Pilots Association ("APA") - to suspend operations to Venezuela due to safety concerns. According to Associated Press , American Airlines operated daily flights to Caracas and Maracaibo from Miami.
In fact, APA, whose decision was supported by the carrier's flight attendants' union, told its pilots to turn down assignments to Venezuela. This move came after the U.S. State Department issued a warning to Americans against traveling to Venezuela due to crime, civil unrest and other factors. The U.S. administration recently suspended daily operations at the U.S. embassy in Caracas and even withdrew all its diplomats from the country.
The sanctions are aimed at isolating the Nicolas Maduro regime further. Notably, the United States and many other countries do not recognize Maduro as Venezuelan president. They recognize opposition leader Juan Guaidoas president of the South American nation instead.
In light of the political unrest engulfing the nation, we believe this Zacks Rank #3 (Hold) company's latest decision is a well-timed one. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As a result of the unrest in Venezuela, American AirlinesAAL temporarily suspended operations to the strife-torn nation. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report LATAM Airlines Group S.A. (LTM): Free Stock Analysis Report To read this article on Zacks.com click here. In fact, APA, whose decision was supported by the carrier's flight attendants' union, told its pilots to turn down assignments to Venezuela.
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Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report LATAM Airlines Group S.A. (LTM): Free Stock Analysis Report To read this article on Zacks.com click here. As a result of the unrest in Venezuela, American AirlinesAAL temporarily suspended operations to the strife-torn nation. Notably, Delta Air Lines DAL and United Airlines - the wholly-owned subsidiary of United Continental Holdings UAL - had halted their respective Venezuelan operations in 2017.
|
Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report LATAM Airlines Group S.A. (LTM): Free Stock Analysis Report To read this article on Zacks.com click here. As a result of the unrest in Venezuela, American AirlinesAAL temporarily suspended operations to the strife-torn nation. Following American Airlines' action, all major U.S.-based carriers have pulled out of the South American country.
|
As a result of the unrest in Venezuela, American AirlinesAAL temporarily suspended operations to the strife-torn nation. Click to get this free report Delta Air Lines, Inc. (DAL): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report LATAM Airlines Group S.A. (LTM): Free Stock Analysis Report To read this article on Zacks.com click here. The withdrawal of American Airlines' operations has isolated Venezuela further.
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6548.0
|
2019-03-18 00:00:00 UTC
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Miners, banks thrust FTSE 100 to sixth day of gains
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AAL
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https://www.nasdaq.com/articles/miners-banks-thrust-ftse-100-sixth-day-gains-2019-03-18
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nan
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nan
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By Muvija M and Shashwat Awasthi
March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support.
The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed.
"The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG.
Bercow's comments aggravated Brexit jitters as May has just a few days to push her divorce deal through if she wants to go to an EU summit on Thursday with something to offer them in return for more time.
Sterling slipped in response to the chaotic turn of events, although that boded well for FTSE 100, which books a big chunk of its earnings in the greenback.
British American Tobacco jumped nearly 3 percent while smaller peer Imperial Brands and pharmaceutical giants GlaxoSmithKline and AstraZeneca all rose.
On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday.
News-related moves were scant but buyout bids boosted banks.
German giants Deutsche Bank and Commerzbank confirming that they were in talks about a merger boosted financial stocks to levels not seen since last October.
In the broader financial sector, London-listed shares in payment processor Worldpay also surged 9.3 percent after the UK-based group agreed to be bought over by U.S. fintech group Fidelity National Information Services for about $35 billion.
Bank stocks are also on a six-day winning streak with a no-deal Brexit on March 29 seemingly off the table.
Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
Oilfield services provider Hunting rose 4 percent on the FTSE 250 index after UBS hiked its rating on stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
|
Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday. Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
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By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
|
By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. "The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG. JD Sports added 1.1 percent.
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6549.0
|
2019-03-18 00:00:00 UTC
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Miners, banks lift FTSE 100 but weaker pound takes down midcaps
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AAL
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https://www.nasdaq.com/articles/miners-banks-lift-ftse-100-weaker-pound-takes-down-midcaps-2019-03-18
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nan
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nan
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By Muvija M and Shashwat Awasthi
March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support.
The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed.
"The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG.
Bercow's comments aggravated Brexit jitters as May has just a few days to push her divorce deal through if she wants to go to an EU summit on Thursday with something to offer them in return for more time.
Sterling slipped in response to the chaotic turn of events, although that boded well for FTSE 100, which books a big chunk of its earnings in the greenback.
British American Tobacco jumped nearly 3 percent while smaller peer Imperial Brands and pharmaceutical giants GlaxoSmithKline and AstraZeneca all rose.
On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday.
News-related moves were scant but buyout bids boosted banks.
German giants Deutsche Bank and Commerzbank confirming that they were in talks about a merger boosted financial stocks to levels not seen since last October.
In the broader financial sector, London-listed shares in payment processor Worldpay also surged 9.3 percent after the UK-based group agreed to be bought over by U.S. fintech group Fidelity National Information Services for about $35 billion.
Bank stocks are also on a six-day winning streak with a no-deal Brexit on March 29 seemingly off the table.
Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
Oilfield services provider Hunting rose 4 percent on the FTSE 250 index after UBS hiked its rating on stock.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
|
Both UK indexes enjoyed a strong run last week on hopes that a potentially disruptive no-deal Brexit would be averted, but the more domestically-focussed midcaps ended their winning streak on Monday. Footasylum shot up 74.2 percent to 81 pence, inching near the 82.5 pence a share offered by larger JD Sports for the sportswear retailer. JD Sports added 1.1 percent.
|
By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. The FTSE 100 added 1 percent - its biggest one-day rise since early February - to mark a sixth straight session of gains while midcaps ended roughly flat as a weaker pound weighed. On the main index, Shell and BP were among the top boosts on higher crude prices, while miners jumped 2.4 percent on their best day in nearly two months, tracking gains in iron ore futures on supply concerns after Vale's output cuts.
|
By Muvija M and Shashwat Awasthi March 18 () - London's exporter-heavy FTSE 100 surged to a five-month high on the back of a drop in sterling after Britain's parliament speaker struck a fresh blow to Theresa May's EU divorce deal, while a rally in miners and oil stocks also lent support. "The government now faces the total ruin of its strategy, as a third ‘Meaningful Vote' (a term that becomes less meaningful with each vote) is ruled out unless changes are made," said Chris Beauchamp, analyst at IG. JD Sports added 1.1 percent.
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6550.0
|
2019-03-15 00:00:00 UTC
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Lithium executive latest to face charges in sprawling U.S. college admissions scandal
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AAL
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https://www.nasdaq.com/articles/lithium-executive-latest-face-charges-sprawling-us-college-admissions-scandal-2019-03-15
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nan
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nan
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By Ross Kerber
BOSTON, March 15 () - The temporarily ousted chief executive of Advantage Lithium Corp on Friday is set to become the latest wealthy person to face criminal charges of participating in the largest college-admissions fraud scheme in U.S. history.
David Sidoo, who was temporarily replaced as CEO by the company's board of directors on Thursday, is due to appear in Boston federal court to be charged with paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons.
Singer on Tuesday pleaded guilty to masterminding the scheme, which highlighted the lengths that wealthy and powerful Americans would go to cheat the high-stakes and high-pressure college admissions system.
One of the schools involved, the University of Southern California, has already rescinded admissions offers to six students involved in the scheme and said it will review what actions to take against students already admitted who took part.
Sidoo is one of a series of prominent executives charged in the scheme. Others include Douglas Hodge, former executive of investment firm PIMCO; Manuel Henriquez, who resigned as CEO of specialty finance company Hercules Capital Inc ; Gordon Caplan, who has been placed on leave from his post as co-chairman of the global law firm Willkie Farr & Gallagher; and TPG Capital private equity partner William McGlashan Jr., who was fired by the firm on Thursday.
Advantage Lithium is in the process of developing a potential Argentine lithium mine. Lithium is a key ingredient in batteries for electric cars.
Hollywood actress Lori Loughlin was dropped by the company that owns the Hallmark cable channel and LVMH's Sephora beauty chain ended a sponsorship deal with her daughter, Olivia, as a result of the charge. Loughlin's husband, fashion designer Mossimo Giannulli, has also been charged.
"Desperate Housewives" actor Felicity Huffman was also charged in the scheme.
Both mastermind Singer and the parents alleged to have paid into the scheme could face up to 20 years in prison if convicted.
The original tip that led to uncovering the college scandal stemmed from an unrelated securities fraud probe into Morrie Tobin, a Los Angeles resident who prosecutors said engaged in "pump-and-dump" stock market schemes, a person familiar with the matter said on Thursday.
Tobin, who pleaded guilty on Feb. 27 to conspiracy and securities fraud charges, told authorities a Yale University women's soccer coach had sought a bribe in exchange for helping his daughter get into the Ivy League school, the person said.
That now-former coach was Rudy Meredith, who agreed to plead guilty to conspiracy and wire fraud charges.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Ross Kerber BOSTON, March 15 () - The temporarily ousted chief executive of Advantage Lithium Corp on Friday is set to become the latest wealthy person to face criminal charges of participating in the largest college-admissions fraud scheme in U.S. history. David Sidoo, who was temporarily replaced as CEO by the company's board of directors on Thursday, is due to appear in Boston federal court to be charged with paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons. The original tip that led to uncovering the college scandal stemmed from an unrelated securities fraud probe into Morrie Tobin, a Los Angeles resident who prosecutors said engaged in "pump-and-dump" stock market schemes, a person familiar with the matter said on Thursday.
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Singer on Tuesday pleaded guilty to masterminding the scheme, which highlighted the lengths that wealthy and powerful Americans would go to cheat the high-stakes and high-pressure college admissions system. Tobin, who pleaded guilty on Feb. 27 to conspiracy and securities fraud charges, told authorities a Yale University women's soccer coach had sought a bribe in exchange for helping his daughter get into the Ivy League school, the person said. That now-former coach was Rudy Meredith, who agreed to plead guilty to conspiracy and wire fraud charges.
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By Ross Kerber BOSTON, March 15 () - The temporarily ousted chief executive of Advantage Lithium Corp on Friday is set to become the latest wealthy person to face criminal charges of participating in the largest college-admissions fraud scheme in U.S. history. David Sidoo, who was temporarily replaced as CEO by the company's board of directors on Thursday, is due to appear in Boston federal court to be charged with paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons. Tobin, who pleaded guilty on Feb. 27 to conspiracy and securities fraud charges, told authorities a Yale University women's soccer coach had sought a bribe in exchange for helping his daughter get into the Ivy League school, the person said.
|
David Sidoo, who was temporarily replaced as CEO by the company's board of directors on Thursday, is due to appear in Boston federal court to be charged with paying $200,000 to the scam's accused mastermind, William "Rick" Singer, to arrange for people to take the SAT admissions test for his two sons. Advantage Lithium is in the process of developing a potential Argentine lithium mine. Tobin, who pleaded guilty on Feb. 27 to conspiracy and securities fraud charges, told authorities a Yale University women's soccer coach had sought a bribe in exchange for helping his daughter get into the Ivy League school, the person said.
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6551.0
|
2019-03-15 00:00:00 UTC
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Air Canada suspends 2019 financial forecasts after 737 MAX groundings
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AAL
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https://www.nasdaq.com/articles/air-canada-suspends-2019-financial-forecasts-after-737-max-groundings-2019-03-15
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nan
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nan
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By Allison Lampert and Debroop Roy
March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes.
Air Canada suspended its 2019 financial forecasts, saying it continued to adapt a contingency plan to address the current uncertainty surrounding the new jets.
Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months.
Shares of Air Canada fell as much as 3 percent in early trading in Toronto, but recovered later to close down 0.7 percent. Shares of United Continental Holdings Inc, the parent of United Airlines, were unchanged at $81.69 in U.S. after-hours trade.
Airlines bought the 737 MAX for its longer range and fuel efficiency, and some carriers' business plans are facing disruption because of the grounding, which U.S. lawmakers have said could last for weeks at a minimum.
The causes of Sunday's crash are still unknown.
Boeing suspended deliveries of its 737 MAX aircraft on Thursday but continues to produce its single-aisle jets at full speed.
Montreal-based Air Canada has said it operated seventy-five 737 MAX flights daily out of a total schedule of approximately 1,600 flights system-wide. Chicago, Illinois-based United Continental operates 14 737 MAX 9 aircraft that accounted for about 40 flights a day.
Air Canada, the country's largest carrier, has been renewing its narrowbody fleet with MAX aircraft to replace its existing Airbus A320 narrowbodies. It had expected to expand its fleet of 24 MAX jets to 36 by the end of 2019.
The Canadian carrier would face the costs of re-booking passengers after the planes were grounded, and other costs from not having scheduled access to the more efficient MAX, said AltaCorp analyst Chris Murray.
The airline estimated that savings on fuel and maintenance costs would make the MAX 8 aircraft 11 percent cheaper to operate per available seat mile (CASM) than its existing Airbus A320s. CASM is a closely watched industry metric.
Murray said he expected Air Canada to find a way to "mitigate" the impact of higher costs, and noted the company's forecast for annual profit margin remained in place for 2020 and 2021, suggesting this would be "a short term disruption."
The grounding of planes has left U.S. and Canadian carriers wrestling with customer calls and flight cancellations. [
Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday. Canada'sWestJet Airlines, which operates 13 of the jets, could not be immediately reached for comment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Allison Lampert and Debroop Roy March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes. Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months. Murray said he expected Air Canada to find a way to "mitigate" the impact of higher costs, and noted the company's forecast for annual profit margin remained in place for 2020 and 2021, suggesting this would be "a short term disruption."
|
Airlines bought the 737 MAX for its longer range and fuel efficiency, and some carriers' business plans are facing disruption because of the grounding, which U.S. lawmakers have said could last for weeks at a minimum. Chicago, Illinois-based United Continental operates 14 737 MAX 9 aircraft that accounted for about 40 flights a day. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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By Allison Lampert and Debroop Roy March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes. Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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Shares of Air Canada fell as much as 3 percent in early trading in Toronto, but recovered later to close down 0.7 percent. The Canadian carrier would face the costs of re-booking passengers after the planes were grounded, and other costs from not having scheduled access to the more efficient MAX, said AltaCorp analyst Chris Murray. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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6552.0
|
2019-03-15 00:00:00 UTC
|
Air Canada halts financial forecasts after 737 MAX groundings
|
AAL
|
https://www.nasdaq.com/articles/air-canada-halts-financial-forecasts-after-737-max-groundings-2019-03-15
|
nan
|
nan
|
By Allison Lampert and Debroop Roy
March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes.
Air Canada suspended its 2019 financial forecasts, saying it continued to adapt a contingency plan to address the current uncertainty surrounding the new jets.
Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months.
Shares of Air Canada fell as much as 3 percent in early trading in Toronto, but recovered later to close down 0.7 percent. Shares of United Continental Holdings Inc, the parent of United Airlines, were unchanged at $81.69 in U.S. after-hours trade.
Airlines bought the 737 MAX for its longer range and fuel efficiency, and some carriers' business plans are facing disruption because of the grounding, which U.S. lawmakers have said could last for weeks at a minimum.
The causes of Sunday's crash are still unknown.
Boeing suspended deliveries of its 737 MAX aircraft on Thursday but continues to produce its single-aisle jets at full speed.
Montreal-based Air Canada has said it operated seventy-five 737 MAX flights daily out of a total schedule of approximately 1,600 flights system-wide. Chicago, Illinois-based United Continental operates 14 737 MAX 9 aircraft that accounted for about 40 flights a day.
Air Canada, the country's largest carrier, has been renewing its narrowbody fleet with MAX aircraft to replace its existing Airbus A320 narrowbodies. It had expected to expand its fleet of 24 MAX jets to 36 by the end of 2019.
The Canadian carrier would face the costs of re-booking passengers after the planes were grounded, and other costs from not having scheduled access to the more efficient MAX, said AltaCorp analyst Chris Murray.
The airline estimated that savings on fuel and maintenance costs would make the MAX 8 aircraft 11 percent cheaper to operate per available seat mile (CASM) than its existing Airbus A320s. CASM is a closely watched industry metric.
Murray said he expected Air Canada to find a way to "mitigate" the impact of higher costs, and noted the company's forecast for annual profit margin remained in place for 2020 and 2021, suggesting this would be "a short term disruption."
The grounding of planes has left U.S. and Canadian carriers wrestling with customer calls and flight cancellations. [
Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday. Canada'sWestJet Airlines, which operates 13 of the jets, could not be immediately reached for comment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By Allison Lampert and Debroop Roy March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes. Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months. Murray said he expected Air Canada to find a way to "mitigate" the impact of higher costs, and noted the company's forecast for annual profit margin remained in place for 2020 and 2021, suggesting this would be "a short term disruption."
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Airlines bought the 737 MAX for its longer range and fuel efficiency, and some carriers' business plans are facing disruption because of the grounding, which U.S. lawmakers have said could last for weeks at a minimum. Chicago, Illinois-based United Continental operates 14 737 MAX 9 aircraft that accounted for about 40 flights a day. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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By Allison Lampert and Debroop Roy March 15 () - Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative impacts on business due to the grounding of Boeing Co's 737 MAX planes. Countries around the world, including the United States and Canada, banned Boeing's fast-selling 737 MAX this week after a fatal Ethiopian Airlines plane crash on Sunday, the second deadly disaster for the aircraft in five months. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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Shares of Air Canada fell as much as 3 percent in early trading in Toronto, but recovered later to close down 0.7 percent. The Canadian carrier would face the costs of re-booking passengers after the planes were grounded, and other costs from not having scheduled access to the more efficient MAX, said AltaCorp analyst Chris Murray. [ Southwest Airlines, the world's largest MAX operator with 34 jets, and American Airlines with 24 MAX in its fleet, both declined to comment on Friday.
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2019-03-15 00:00:00 UTC
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American Airlines pilots told by union not to fly to Venezuela
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https://www.nasdaq.com/articles/american-airlines-pilots-told-union-not-fly-venezuela-2019-03-15
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March 15 (Reuters) - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department.
The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12.
A number of airlines have stopped their flights to the South American country because of security concerns and disputes over money they say the Venezuelan government owes them.
"Do not accept any trips to Venezuela," Allied Pilots Association President Captain Dan Carey, told pilots in a letter seen by Reuters.
United Airlines ended its flights to Venezuela in 2017.
Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate.
The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
All U.S. diplomats left the country on Thursday, Secretary of State Mike Pompeo said.
Shares of the airline were down almost 1 percent at $31.88 in afternoon trading.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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March 15 (Reuters) - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12. Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate.
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March 15 (Reuters) - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12. "Do not accept any trips to Venezuela," Allied Pilots Association President Captain Dan Carey, told pilots in a letter seen by Reuters.
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March 15 (Reuters) - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate. The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
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March 15 (Reuters) - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. United Airlines ended its flights to Venezuela in 2017. The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
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2019-03-15 00:00:00 UTC
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American Airlines halts flights to Caracas, Maracaibo in Venezuela
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https://www.nasdaq.com/articles/american-airlines-halts-flights-caracas-maracaibo-venezuela-2019-03-15
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March 15 () - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department.
The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12.
A number of airlines have stopped their flights to the South American country because of security concerns and disputes over money they say the Venezuelan government owes them.
"Do not accept any trips to Venezuela," Allied Pilots Association President Captain Dan Carey, told pilots in a letter seen by .
United Airlines ended its flights to Venezuela in 2017.
Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate.
The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
All U.S. diplomats left the country on Thursday, Secretary of State Mike Pompeo said.
Shares of the airline were down almost 1 percent at $31.88 in afternoon trading.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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March 15 () - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12. Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate.
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March 15 () - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. The department cited civil unrest, poor health and arbitrary arrest and detention of U.S. citizens in Venezuela for issuing the advisory on March 12. "Do not accept any trips to Venezuela," Allied Pilots Association President Captain Dan Carey, told pilots in a letter seen by .
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March 15 () - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. Venezuela plunged into a deep political crisis in January when Juan Guaido, head of the opposition-controlled congress, invoked the constitution to assume an interim presidency, arguing Nicolas Maduro's 2018 re-election was not legitimate. The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
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March 15 () - American Airlines Group Inc on Friday said it has temporarily suspended its operations into Caracas and Maracaibo, after its pilots union urged its workers to deny trips to Venezuela in the wake of a travel advisory issued by the U.S. State Department. United Airlines ended its flights to Venezuela in 2017. The move has put Venezuela at the heart of a geopolitical tussle, with the United States leading most Western nations in recognizing Guaido as the legitimate head of state.
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2019-03-15 00:00:00 UTC
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Pimco says some staff used 'legitimate' services of college scandal mastermind
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https://www.nasdaq.com/articles/pimco-says-some-staff-used-legitimate-services-college-scandal-mastermind-2019-03-15
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By Jennifer Ablan and Dan Burns
NEW YORK, March 15 () - The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world's largest asset managers whose former chief executive is ensnared in the fraud, the company said on Friday.
Some Pimco employees also used William 'Rick' Singer's "legitimate college prep services," Pimco said in a statement. "We have no information at this time, however, to indicate Pimco employees acted improperly in their private capacity," Pimco said.
One of the parents accused of paying Singer in the alleged scheme is Douglas Hodge, Pimco's former CEO, who left the company in 2017. According to prosecutors, Hodge paid more than $500,000 to enable two of his children to gain admission to the University of Southern California (USC) as athletic recruits.
The Pimco statement called such relationships with Singer "the private affairs of individuals."
"However, Pimco holds its employees to the highest ethical standards, so any employee found to have engaged in fraud or any illegal activity would have no place at the firm," Pimco said.
Pimco said it "has never had a business relationship with Rick Singer or his college preparation organization."
Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman, and college sports coaches have been charged in the scheme. Prosecutors say Singer made about $25 million from the scheme.
FIRST PARENT TO PLEAD NOT GUILTY
Earlier on Friday, ousted Advantage Lithium Corp Chief Executive David Sidoo became the first of the 33 parents charged in the scam to plead not guilty.
Sidoo, who was temporarily replaced by Advantage Lithium's board of directors on Thursday, declined to speak to a reporter as he entered the courtroom in Boston federal court.
During a hearing that followed, Sidoo said little except to acknowledge his rights and to say "not guilty" when asked how he would plead.
"He looks forward to fully contesting the charges," Sidoo's attorneys said in a statement emailed to by a publicist. "He will be returning to his home in Canada and asks people not rush to judgment."
Advantage Lithium is in the process of developing a potential Argentine lithium mine. Lithium is a critically important ingredient used in manufacturing batteries for electric cars.
Singer on Tuesday pleaded guilty to masterminding the scheme, which highlighted the lengths that wealthy and powerful Americans would go to cheat the high-stakes and high-pressure college admissions system.
USC, one of the schools involved through bribes paid to sports coaches, has rescinded admissions offers to six students involved in the scheme. It said it will review what actions to take against current students who took part.
Other prominent executives accused in the scheme include Manuel Henriquez, who resigned as CEO of specialty finance company Hercules Capital Inc ; Gordon Caplan, who has been placed on leave from his post as co-chairman of the global law firm Willkie Farr & Gallagher; and TPG Capital private equity partner William McGlashan Jr., who was fired by the firm on Thursday.
Loughlin was dropped by the company that owns the Hallmark cable channel due to her alleged part in the fraud, and LVMH's Sephora beauty chain ended a sponsorship deal with her daughter, Olivia. Loughlin's husband, fashion designer Mossimo Giannulli, also has been charged.
Singer and the parents alleged to have paid into the scheme could face up to 20 years in prison if convicted.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Sidoo, who was temporarily replaced by Advantage Lithium's board of directors on Thursday, declined to speak to a reporter as he entered the courtroom in Boston federal court. Singer on Tuesday pleaded guilty to masterminding the scheme, which highlighted the lengths that wealthy and powerful Americans would go to cheat the high-stakes and high-pressure college admissions system. Loughlin was dropped by the company that owns the Hallmark cable channel due to her alleged part in the fraud, and LVMH's Sephora beauty chain ended a sponsorship deal with her daughter, Olivia.
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One of the parents accused of paying Singer in the alleged scheme is Douglas Hodge, Pimco's former CEO, who left the company in 2017. Earlier on Friday, ousted Advantage Lithium Corp Chief Executive David Sidoo became the first of the 33 parents charged in the scam to plead not guilty. Other prominent executives accused in the scheme include Manuel Henriquez, who resigned as CEO of specialty finance company Hercules Capital Inc ; Gordon Caplan, who has been placed on leave from his post as co-chairman of the global law firm Willkie Farr & Gallagher; and TPG Capital private equity partner William McGlashan Jr., who was fired by the firm on Thursday.
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Some Pimco employees also used William 'Rick' Singer's "legitimate college prep services," Pimco said in a statement. Earlier on Friday, ousted Advantage Lithium Corp Chief Executive David Sidoo became the first of the 33 parents charged in the scam to plead not guilty. Other prominent executives accused in the scheme include Manuel Henriquez, who resigned as CEO of specialty finance company Hercules Capital Inc ; Gordon Caplan, who has been placed on leave from his post as co-chairman of the global law firm Willkie Farr & Gallagher; and TPG Capital private equity partner William McGlashan Jr., who was fired by the firm on Thursday.
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Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman, and college sports coaches have been charged in the scheme. Earlier on Friday, ousted Advantage Lithium Corp Chief Executive David Sidoo became the first of the 33 parents charged in the scam to plead not guilty. During a hearing that followed, Sidoo said little except to acknowledge his rights and to say "not guilty" when asked how he would plead.
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2019-03-15 00:00:00 UTC
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Pimco says college scandal mastermind spoke at two events it hosted
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https://www.nasdaq.com/articles/pimco-says-college-scandal-mastermind-spoke-two-events-it-hosted-2019-03-15
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By Ross Kerber
BOSTON, March 15 () - The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world's largest asset managers whose former chief executive is ensnared in the fraud, the company said on Friday.
Some Pimco employees also used William 'Rick' Singer's "legitimate college prep services," Pimco said in a statement.
"Any such relationships with Mr. Singer are entirely the private affairs of individuals. However, Pimco holds its employees to the highest ethical standards, so any employee found to have engaged in fraud or any illegal activity would have no place at the firm," Pimco said.
Singer, who last addressed a Pimco event in 2015, is accused by federal authorities of bribing athletic coaches and arranging for phony test-takers to secure clients' children spots at elite universities. One of the parents accused of paying Singer in the alleged scheme is Douglas Hodge, Pimco's former CEO, who left the company in 2017.
Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman, and college sports coaches have been charged in the scheme. Prosecutors say Singer made about $25 million over eight years by bribing coaches and arranging for phony test-takers to secure clients' children spots at elite universities including Yale, Georgetown and Stanford.
Earlier on Friday, ousted Advantage Lithium Corp Chief Executive David Sidoo became the first of the 33 parents charged in the scam to plead not guilty.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Singer, who last addressed a Pimco event in 2015, is accused by federal authorities of bribing athletic coaches and arranging for phony test-takers to secure clients' children spots at elite universities. Some 50 people including prominent executives, Hollywood actresses Lori Loughlin and Felicity Huffman, and college sports coaches have been charged in the scheme. Prosecutors say Singer made about $25 million over eight years by bribing coaches and arranging for phony test-takers to secure clients' children spots at elite universities including Yale, Georgetown and Stanford.
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Some Pimco employees also used William 'Rick' Singer's "legitimate college prep services," Pimco said in a statement. Singer, who last addressed a Pimco event in 2015, is accused by federal authorities of bribing athletic coaches and arranging for phony test-takers to secure clients' children spots at elite universities. Prosecutors say Singer made about $25 million over eight years by bribing coaches and arranging for phony test-takers to secure clients' children spots at elite universities including Yale, Georgetown and Stanford.
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By Ross Kerber BOSTON, March 15 () - The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world's largest asset managers whose former chief executive is ensnared in the fraud, the company said on Friday. Singer, who last addressed a Pimco event in 2015, is accused by federal authorities of bribing athletic coaches and arranging for phony test-takers to secure clients' children spots at elite universities. Prosecutors say Singer made about $25 million over eight years by bribing coaches and arranging for phony test-takers to secure clients' children spots at elite universities including Yale, Georgetown and Stanford.
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By Ross Kerber BOSTON, March 15 () - The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world's largest asset managers whose former chief executive is ensnared in the fraud, the company said on Friday. Some Pimco employees also used William 'Rick' Singer's "legitimate college prep services," Pimco said in a statement. "Any such relationships with Mr. Singer are entirely the private affairs of individuals.
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2019-03-15 00:00:00 UTC
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Boeing black box review begins in France, aviation world waits
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https://www.nasdaq.com/articles/boeing-black-box-review-begins-france-aviation-world-waits-2019-03-15
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By Richard Lough and Aaron Maasho
PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday.
Ethiopian Airlines Flight 302 crashed soon after take-off from Addis Ababa last weekend, killing 157 people, the second such calamity involving Boeing's flagship new model after a jet came down off Indonesia in October with 189 people on board.
Regulators have grounded the 737 MAX around the world, and the U.S. planemaker has halted deliveries of the several thousand on order for a model intended to be the future industry workhorse.
Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative financial implications to business as a consequence of the grounding of the Boeing planes.
Canada's biggest carrier Air Canada suspended its 2019 financial forecasts, while United Airlines, the No. 3 U.S. carrier, said it would see an adverse effect on its operations if the jets remained grounded heading into the peak summer travel season.
U.S. bank Citi said it expected the grounding to eat into the profits of Southwest Airlines, which operates the world's biggest 737 MAX fleet, causing a plane shortage for the carrier and likely passenger compensation costs.
For airlines that over-ordered the 737 MAX, the grounding could provide an excuse to delay or cancel purchases, analysts said, though others are scrambling to adjust business plans that bet heavily on the fuel-efficient, longer-range jets.
In both crashes, pilots asked to return minutes into flight.
"It looks like the Lion Air, because the flight only lasted for six minutes," Ethiopian Airlines Chief Executive Tewolde Gebremariam told state Chinese state news agency Xinhua on Friday. "There is clear similarity between our crash and the Lion Air crash."
was not able to reach Tewolde for comment. A link between the two accidents makes blame more likely to lie with Boeing and less likely with the airline.
Parallels between the twin disasters have frightened travellers worldwide and wiped billions of dollars off Boeing stock.
U.S. authorities say information from the wreckage in Ethiopia and data on its flight path show some similarities.
Two sources said investigators retrieved a piece of a stabiliser, which moves the nose up and down, set in an unusual position - similar to that of the Lion Air plane that crashed in Indonesia.
Pilots were waiting anxiously for results of the investigation.
"Looking at the crash site photos, the aircraft appears to have nose-dived," Paul Gichinga, former head of the Kenya Airline Pilots Association, told .
"The pilot must have gotten some sort of indication that maybe the airspeed was unreliable or something and decided, instead of climbing and going to sort out the problem up there, the best thing was to return to have it sorted."
U.S. President Donald Trump spoke by telephone on Friday with Ethiopian Prime Minister Abiy Ahmed about the crash, according to the White House.
"The president reiterated his sorrow over the loss of life and underscored America's commitment to work with the government of Ethiopia - a longstanding partner and friend of the United States - and international civil aviation authorities to determine the cause of the crash," the White House said in a statement.
BOEING PLANS NEW SOFTWARE
Boeing, the world's biggest planemaker, has said the 737 MAX is safe, though it plans to roll out a software upgrade in coming weeks. Despite pausing shipments, it continued to produce at full speed at its factory near Seattle.
Boeing and U.S. air safety regulators have been at odds over how much pilot training will be required along with the software fix, the Wall Street Journal reported on Friday.
Citing unnamed sources, it said Boeing was advocating mainly written material be sent to pilots explaining "operation of the automated stall-prevention feature - and how to respond if it malfunctions." The Federal Aviation Administration wanted pilots go through instructions on a laptop computer, it said.
French authorities have the flight data and cockpit voice recorders, though Ethiopia is formally leading the investigation and U.S. experts are in Paris and Addis Ababa too.
First conclusions could take several days.
The New York Times said the captain, Yared Getachew, initially reported a "flight control" problem in a calm voice before asking to return in panicked tones three minutes into the flight. "Break break, request back to home," he told controllers, the newspaper reported.
The jet initially flew below the minimum safe height for its climb, then once at higher altitude was oscillating up and down by hundreds of feet, all at abnormally fast speed, the Times said. It then disappeared from radar over a military zone and lost contact with controllers five minutes after take-off.
In Ethiopia, relatives have been visiting the charred and debris-strewn field to pay last respects. The victims came from 35 nations.
Diplomats fear trucks and excavators at the site could be destroying vital evidence, while some policemen have been taking selfies inside the security cordon.
FAMILIES 'STUCK AND EMOTIONAL'
Israeli Ilan Matsliah came to Ethiopia thinking it would be quick to find the remains of his brother for burial in accordance with Jewish tradition.
"More than 24 hours is a problem for us. But I have been here for more than 96 hours," the 46-year-old told .
"We are now stuck in the same place, the same as Monday. We are very emotional."
With heightened global scrutiny, the head of Indonesia's transport safety committee said a report into the Lion Air crash would be speeded up for release in July or August.
A preliminary report focused on maintenance, training and an anti-stall system.
Elsewhere, a potential new Chinese order for more than 100 jets worth well over $10 billion was put in doubt.
Legal experts said even non-U.S. families of the Ethiopia victims may be able to sue Chicago-based Boeing in the United States - where payouts are larger - as eight of the dead were American and plaintiffs may argue liability hinges on system design and safety decisions made by executives.
GRAPHIC:Ethiopian Airlines crash interactive
Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Richard Lough and Aaron Maasho PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday. "The president reiterated his sorrow over the loss of life and underscored America's commitment to work with the government of Ethiopia - a longstanding partner and friend of the United States - and international civil aviation authorities to determine the cause of the crash," the White House said in a statement. Legal experts said even non-U.S. families of the Ethiopia victims may be able to sue Chicago-based Boeing in the United States - where payouts are larger - as eight of the dead were American and plaintiffs may argue liability hinges on system design and safety decisions made by executives.
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Canada's biggest carrier Air Canada suspended its 2019 financial forecasts, while United Airlines, the No. "It looks like the Lion Air, because the flight only lasted for six minutes," Ethiopian Airlines Chief Executive Tewolde Gebremariam told state Chinese state news agency Xinhua on Friday. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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By Richard Lough and Aaron Maasho PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday. Ethiopian Airlines Flight 302 crashed soon after take-off from Addis Ababa last weekend, killing 157 people, the second such calamity involving Boeing's flagship new model after a jet came down off Indonesia in October with 189 people on board. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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U.S. bank Citi said it expected the grounding to eat into the profits of Southwest Airlines, which operates the world's biggest 737 MAX fleet, causing a plane shortage for the carrier and likely passenger compensation costs. The New York Times said the captain, Yared Getachew, initially reported a "flight control" problem in a calm voice before asking to return in panicked tones three minutes into the flight. But I have been here for more than 96 hours," the 46-year-old told .
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2019-03-15 00:00:00 UTC
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French investigators set to examine black box data from Ethiopia crash
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https://www.nasdaq.com/articles/french-investigators-set-examine-black-box-data-ethiopia-crash-2019-03-15
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By Richard Lough and Aaron Maasho
PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday.
Ethiopian Airlines Flight 302 crashed soon after take-off from Addis Ababa last weekend, killing 157 people, the second such calamity involving Boeing's flagship new model after a jet came down off Indonesia in October with 189 people on board.
Regulators have grounded the 737 MAX around the world, and the U.S. planemaker has halted deliveries of the several thousand on order for a model intended to be the future industry workhorse.
Air Canada and United Airlines on Friday became the first major carriers in North America to warn of negative financial implications to business as a consequence of the grounding of the Boeing planes.
Canada's biggest carrier Air Canada suspended its 2019 financial forecasts, while United Airlines, the No. 3 U.S. carrier, said it would see an adverse effect on its operations if the jets remained grounded heading into the peak summer travel season.
U.S. bank Citi said it expected the grounding to eat into the profits of Southwest Airlines, which operates the world's biggest 737 MAX fleet, causing a plane shortage for the carrier and likely passenger compensation costs.
For airlines that over-ordered the 737 MAX, the grounding could provide an excuse to delay or cancel purchases, analysts said, though others are scrambling to adjust business plans that bet heavily on the fuel-efficient, longer-range jets.
In both crashes, pilots asked to return minutes into flight.
"It looks like the Lion Air, because the flight only lasted for six minutes," Ethiopian Airlines Chief Executive Tewolde Gebremariam told state Chinese state news agency Xinhua on Friday. "There is clear similarity between our crash and the Lion Air crash."
was not able to reach Tewolde for comment. A link between the two accidents makes blame more likely to lie with Boeing and less likely with the airline.
Parallels between the twin disasters have frightened travellers worldwide and wiped billions of dollars off Boeing stock.
U.S. authorities say information from the wreckage in Ethiopia and data on its flight path show some similarities.
Two sources said investigators retrieved a piece of a stabiliser, which moves the nose up and down, set in an unusual position - similar to that of the Lion Air plane that crashed in Indonesia.
Pilots were waiting anxiously for results of the investigation.
"Looking at the crash site photos, the aircraft appears to have nose-dived," Paul Gichinga, former head of the Kenya Airline Pilots Association, told .
"The pilot must have gotten some sort of indication that maybe the airspeed was unreliable or something and decided, instead of climbing and going to sort out the problem up there, the best thing was to return to have it sorted."
U.S. President Donald Trump spoke by telephone on Friday with Ethiopian Prime Minister Abiy Ahmed about the crash, according to the White House.
"The president reiterated his sorrow over the loss of life and underscored America's commitment to work with the government of Ethiopia - a longstanding partner and friend of the United States - and international civil aviation authorities to determine the cause of the crash," the White House said in a statement.
BOEING PLANS NEW SOFTWARE
Boeing, the world's biggest planemaker, has said the 737 MAX is safe, though it plans to roll out a software upgrade in coming weeks. Despite pausing shipments, it continued to produce at full speed at its factory near Seattle.
Boeing and U.S. air safety regulators have been at odds over how much pilot training will be required along with the software fix, the Wall Street Journal reported on Friday.
Citing unnamed sources, it said Boeing was advocating mainly written material be sent to pilots explaining "operation of the automated stall-prevention feature - and how to respond if it malfunctions." The Federal Aviation Administration wanted pilots go through instructions on a laptop computer, it said.
French authorities have the flight data and cockpit voice recorders, though Ethiopia is formally leading the investigation and U.S. experts are in Paris and Addis Ababa too.
First conclusions could take several days.
The New York Times said the captain, Yared Getachew, initially reported a "flight control" problem in a calm voice before asking to return in panicked tones three minutes into the flight. "Break break, request back to home," he told controllers, the newspaper reported.
The jet initially flew below the minimum safe height for its climb, then once at higher altitude was oscillating up and down by hundreds of feet, all at abnormally fast speed, the Times said. It then disappeared from radar over a military zone and lost contact with controllers five minutes after take-off.
In Ethiopia, relatives have been visiting the charred and debris-strewn field to pay last respects. The victims came from 35 nations.
Diplomats fear trucks and excavators at the site could be destroying vital evidence, while some policemen have been taking selfies inside the security cordon.
FAMILIES 'STUCK AND EMOTIONAL'
Israeli Ilan Matsliah came to Ethiopia thinking it would be quick to find the remains of his brother for burial in accordance with Jewish tradition.
"More than 24 hours is a problem for us. But I have been here for more than 96 hours," the 46-year-old told .
"We are now stuck in the same place, the same as Monday. We are very emotional."
With heightened global scrutiny, the head of Indonesia's transport safety committee said a report into the Lion Air crash would be speeded up for release in July or August.
A preliminary report focused on maintenance, training and an anti-stall system.
Elsewhere, a potential new Chinese order for more than 100 jets worth well over $10 billion was put in doubt.
Legal experts said even non-U.S. families of the Ethiopia victims may be able to sue Chicago-based Boeing in the United States - where payouts are larger - as eight of the dead were American and plaintiffs may argue liability hinges on system design and safety decisions made by executives.
GRAPHIC:Ethiopian Airlines crash interactive
Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Richard Lough and Aaron Maasho PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday. "The president reiterated his sorrow over the loss of life and underscored America's commitment to work with the government of Ethiopia - a longstanding partner and friend of the United States - and international civil aviation authorities to determine the cause of the crash," the White House said in a statement. Legal experts said even non-U.S. families of the Ethiopia victims may be able to sue Chicago-based Boeing in the United States - where payouts are larger - as eight of the dead were American and plaintiffs may argue liability hinges on system design and safety decisions made by executives.
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Canada's biggest carrier Air Canada suspended its 2019 financial forecasts, while United Airlines, the No. "It looks like the Lion Air, because the flight only lasted for six minutes," Ethiopian Airlines Chief Executive Tewolde Gebremariam told state Chinese state news agency Xinhua on Friday. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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By Richard Lough and Aaron Maasho PARIS/ADDIS ABABA, March 15 () - The grounding of Boeing's 737 MAX jets after the crash in Ethiopia has had no immediate financial impact on airlines using the planes, but it will get painful for the industry the longer they do not fly, companies and analysts said on Friday. Ethiopian Airlines Flight 302 crashed soon after take-off from Addis Ababa last weekend, killing 157 people, the second such calamity involving Boeing's flagship new model after a jet came down off Indonesia in October with 189 people on board. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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U.S. bank Citi said it expected the grounding to eat into the profits of Southwest Airlines, which operates the world's biggest 737 MAX fleet, causing a plane shortage for the carrier and likely passenger compensation costs. The New York Times said the captain, Yared Getachew, initially reported a "flight control" problem in a calm voice before asking to return in panicked tones three minutes into the flight. But I have been here for more than 96 hours," the 46-year-old told .
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6559.0
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2019-03-14 00:00:00 UTC
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The Zacks Analyst Blog Highlights: Boeing, Airlines Group, Southwest Airlines and United Continental
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AAL
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https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights%3A-boeing-airlines-group-southwest-airlines-and-united
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For Immediate Release
Chicago, IL - March 14, 2019 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The Boeing Company BA , Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL .
Here are highlights from Wednesday's Analyst Blog:
What's Next for Boeing?
While the broader U.S. stock market started this week on a solid note, the same cannot be said about the Dow Jones Industrial Average, which rather unfortunately registered its widest deviation from the S&P 500 over a two-day span in years. In the past two trading sessions, the S&P 500 outperformed the Dow by 1.36 percentage points, the widest gap since Oct 21, 2014 when the broader market benchmark had outpaced the blue-chip index by 1.44 percentage points, per the Dow Jones Market Data.
Indubitably, The Boeing Company is to be blamed for the two-day divergence between the S&P 500 and the Dow. Tragedy struck the airliner when one of its Boeing 737 Max 8 crashed in Ethiopia on Sunday, killing all 157 people on board. Such a devastating event raised concerns about the new model of the aircraft. After all, the same model also went down in Indonesia last October, killing 189 people. The flight had downright lost communication with air traffic controllers six minutes after takeoff.
Needless to say, Boeing's shares went tumbling $47.13, or 11.2%, since Friday's close. By the way, it's the biggest two-day selloff for Boeing in nearly a decade. And it's all because of an array of regulatory authorities across the globe grounding the 737 Max aircraft, thanks to the second deadly crash in consecutive weekends.
In fact, airline stocks in general had to bear the brunt of the crash, even without having exposure to 737 Max. Well! That's purely panic driven as traders pulled money out of the airline industry at least for the time being. Prominent airline stocks such as American Airlines Group Inc., Southwest Airlines Co. and United Continental Holdings, Inc. to name a few saw their shares decline more than 2% following the crash news.
Is Boeing Doomed or Will It Bounce Back?
Prima facie Boeing is in deep trouble. But, let's admit that even after this drubbing, Boeing's share price is at $375.41 and remains the highest among the Dow components. Moreover, it's likely to hover near that price since it's too early to tell whether the airplane itself is to be held responsible for the twin crashes. Investigations are, after all, still in early stages. Let us not forget that maintenance crew do update software on a regular basis, so we can vouch that the software isn't the culprit behind the crashes.
So, if anyone is to be blamed it maybe the flights crew and the training they received. It's also worth pointing out that even though the pilot and the copilot had completed the required hours of flight time, did they really receive enough training in a computer simulator. Don't forget that such training is equally important if not more than the total amount of flight time.
Now, some may say that let the investigation conclude the fate of Boeing. Let me enlighten them that whatever is the result, Boeing isn't going down and President Trump just simply won't ground the Boeing 737 MAX airliner. And why so? Simply because there are only a few American companies more valuable than Boeing. And he cannot let anyone meddle with its brand name. It employs almost 150,000 workers, exports several planes around the globe and along with Airbus leads the world market for airliners.
To top it, Boeing makes a hell of a lot of weapons for the U.S. military. And Defense Secretary Patrick Shanahan, who has worked at the top level for almost 30 years at Boeing, is known to be Boeing biased. This means a whole heap of defense contracts may land on Boeing's feet. Thus, going forward, Boeing's shares are expected to gain traction as the firm frequently tops the list of government contractors.
Boeing Essentially is Doing Good
Boeing has for a prolonged period of time quite efficaciously weathered all kinds of bottlenecks and improved shareholders wealth through dividend payments and share buybacks. The company has unfailingly paid quarterly dividends for the last eight decades and increased its dividend payout once every four quarters for the last seven years. In fact, Boeing's quarterly dividends soared 389% in the last seven years.
At the same time, Boeing initiated its first share buyback program in 2013. Since then, Boeing has repurchased $41 billion worth of its own shares.
Boeing currently sports a Zacks Rank #1 (Strong Buy). In the past 60 days, Boeing has seen nine earnings estimates move up, while none moved down for the current year. The Zacks Consensus Estimate for earnings increased 10.5% in the same period. You can see the complete list of today's Zacks #1 Rank stocks here .
The company's expected earnings growth rate, meanwhile, for the current year is 25.7%, more than the Aerospace - Defense industry's projected gain of 3.3%. The company has already outperformed the broader industry so far this year (+16.4% vs +14.1%).
Consequently, you can very well shrug off the two-day drop Boeing witnessed. In fact, you can now buy Boeing stock without burning a big hole in your pocket.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 - 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
Media Contact
Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss . This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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United Continental Holdings, Inc. (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
Southwest Airlines Co. (LUV): Free Stock Analysis Report
The Boeing Company (BA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks recently featured in the blog include: The Boeing Company BA , Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL . Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. While the broader U.S. stock market started this week on a solid note, the same cannot be said about the Dow Jones Industrial Average, which rather unfortunately registered its widest deviation from the S&P 500 over a two-day span in years.
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Stocks recently featured in the blog include: The Boeing Company BA , Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL . Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Prominent airline stocks such as American Airlines Group Inc., Southwest Airlines Co. and United Continental Holdings, Inc. to name a few saw their shares decline more than 2% following the crash news.
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Stocks recently featured in the blog include: The Boeing Company BA , Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL . Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Let me enlighten them that whatever is the result, Boeing isn't going down and President Trump just simply won't ground the Boeing 737 MAX airliner.
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Stocks recently featured in the blog include: The Boeing Company BA , Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL . Click to get this free report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Indubitably, The Boeing Company is to be blamed for the two-day divergence between the S&P 500 and the Dow.
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6560.0
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2019-03-14 00:00:00 UTC
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U.S. lawmakers say Boeing 737 MAX 8 grounded for at least 'weeks'
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AAL
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https://www.nasdaq.com/articles/us-lawmakers-say-boeing-737-max-8-grounded-least-weeks-2019-03-14
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By David Shepardson
WASHINGTON, March 14 () - U.S. lawmakers said after a briefing with the acting head of the Federal Aviation Administration on Thursday that Boeing 737 MAX 8 and 9 planes will remain grounded for "weeks" at a minimum, until a software upgrade could be tested and installed in all of the planes.
FAA Administrator Dan Elwell told reporters on Wednesday the software update will be ready within a couple of months after regulators around the world grounded the plane following a second fatal crash in the 737 MAX 8 since October.
The software patch may not be enough to allow the planes to be ungrounded depending on the findings from the ongoing investigation into the crash of Ethiopian Airlines 302 that killed 157 people on Sunday.
Boeing declined to comment, but said Monday it would roll out the software improvement "across the 737 MAX fleet in the coming weeks."
Representative Rick Larsen said after the briefing the software upgrade would take a few weeks to complete and installing on all aircraft would take "at least through April." He said additional training would also have to take place.
Larsen, the top Democrat on an aviation subcommittee, said despite the fact that the FAA was the last major regulator to ground the plane, the "rest of the world is looking to the FAA to lead the effort on the fix and to make a decision about ungrounding the airplanes."
Representative Peter DeFazio, the chairman of the House Transportation and Infrastructure Committee, said the software upgrade will result in the airplanes behaving more like older versions of the 737.
The upgrade will revise an automated protection system called the Maneuvering Characteristics Augmentation System or MCAS, which come under scrutiny in October's fatal Lion Air crash in Indonesia.
"After the pilot has tried to correct, the MCAS is going to not keep repeating itself, which is what it does now. It keep triggering automatically and the pilot has to do it again," DeFazio said, unless it is manually disengaged by the pilot. "It will essentially shut itself off."
The upgrade will address if there is a disagreement between censors, DeFazio said.
Lawmakers noted that there have been no confirmed incidents in 50,000 North America flights with the 737 MAX 8 and questioned if training by carriers abroad was an issue.
GRAPHIC:Ethiopian Airlines crash interactive
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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FAA Administrator Dan Elwell told reporters on Wednesday the software update will be ready within a couple of months after regulators around the world grounded the plane following a second fatal crash in the 737 MAX 8 since October. The software patch may not be enough to allow the planes to be ungrounded depending on the findings from the ongoing investigation into the crash of Ethiopian Airlines 302 that killed 157 people on Sunday. Representative Peter DeFazio, the chairman of the House Transportation and Infrastructure Committee, said the software upgrade will result in the airplanes behaving more like older versions of the 737.
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By David Shepardson WASHINGTON, March 14 () - U.S. lawmakers said after a briefing with the acting head of the Federal Aviation Administration on Thursday that Boeing 737 MAX 8 and 9 planes will remain grounded for "weeks" at a minimum, until a software upgrade could be tested and installed in all of the planes. FAA Administrator Dan Elwell told reporters on Wednesday the software update will be ready within a couple of months after regulators around the world grounded the plane following a second fatal crash in the 737 MAX 8 since October. GRAPHIC:Ethiopian Airlines crash interactive The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 14 () - U.S. lawmakers said after a briefing with the acting head of the Federal Aviation Administration on Thursday that Boeing 737 MAX 8 and 9 planes will remain grounded for "weeks" at a minimum, until a software upgrade could be tested and installed in all of the planes. FAA Administrator Dan Elwell told reporters on Wednesday the software update will be ready within a couple of months after regulators around the world grounded the plane following a second fatal crash in the 737 MAX 8 since October. The upgrade will revise an automated protection system called the Maneuvering Characteristics Augmentation System or MCAS, which come under scrutiny in October's fatal Lion Air crash in Indonesia.
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By David Shepardson WASHINGTON, March 14 () - U.S. lawmakers said after a briefing with the acting head of the Federal Aviation Administration on Thursday that Boeing 737 MAX 8 and 9 planes will remain grounded for "weeks" at a minimum, until a software upgrade could be tested and installed in all of the planes. FAA Administrator Dan Elwell told reporters on Wednesday the software update will be ready within a couple of months after regulators around the world grounded the plane following a second fatal crash in the 737 MAX 8 since October. Representative Rick Larsen said after the briefing the software upgrade would take a few weeks to complete and installing on all aircraft would take "at least through April."
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6561.0
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2019-03-14 00:00:00 UTC
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Are These 3 Airline Stocks in for a Smooth Flight or More Turbulence?
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AAL
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https://www.nasdaq.com/articles/are-these-3-airline-stocks-in-for-a-smooth-flight-or-more-turbulence-2019-03-14
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Statistically speaking, airliner fatalities are incredibly rare. Nevertheless, I can't help but breathe a sigh of relief that I'm back from my recent European vacation. Recently, airline stocks have endured unwanted attention due to Boeing 's (NYSE: BA ) horrific human and PR crisis.
On Sunday, Ethiopian Airlines Flight 302 crashed, killing all onboard. The incident comes less than five months after Lion Air Flight 610 also crashed. Immediately, everyone recognized that both incidents involved Boeing's latest aircraft, the 737 Max 8. But more damning is the possibility that a similar system malfunction doomed both flights.
Of course, Boeing stock took the brunt of the damage, and will probably fall even further. The Federal Aviation Administration grounded all U.S.-based 737 Max 8 jets following the lead of many other individual countries and the EU. Over the next few years, oversight agencies will likely examine Boeing's business and operational practices with the same fervor as a Mueller investigation.
But don't make the mistake the only stock affected by these tragedies is BA. As the 737 Max 8 jets are rapidly becoming a staple among airline stocks, they too have suffered nearer-term volatility.
According to a CNBC report, approximately 20% of 737 Max 8 aircraft belong to U.S. airliners. Moreover, the grounding results in a forced opportunity cost and future revenue challenges. With a tech-savvy consumer base, many fliers may eschew the Max 8 for something else even after the planes are cleared for takeoff again.
But before you make any rash decisions, let's take a deeper look at the major domestic airline stocks:
Southwest Airlines (LUV)
Source: Jerry Landers via Flickr (Modified)
Southwest Airlines (NYSE: LUV ) presents a strange case study regarding anticipated reactions versus actual results. According to The New York Times , Southwest owns the largest fleet of Boeing 737 Max 8 jets in the world ! Logically, you'd expect the company to lead other airline stocks into the depths of purgatory.
So is LUV stock melting down? Shares took some damage following news of the Ethiopian Air disaster, but the volatility has been surprisingly muted. While it nominally owns the now dubious title of Max 8 king, on a percentage basis, Southwest's exposure is limited. The grounded flights only represent about 4% of its total flights.
How then should investors treat LUV stock? Very carefully. Personally, I'd avoid it for right now. Because Southwest largely flies domestically (with relatively short international routes), it's very sensitive to margins. Therefore, a critical reason exists why Southwest owns so many 737 Max 8 planes: they're super-efficient on fuel.
Now that those planes are grounded and have incurred a reputational smear, I'd wait out LUV stock.
American Airlines Group (AAL)
Source: Oliver Holzbauer via Flickr
From an airline with a lot riding on the Max 8, we now move to American Airlines Group (NASDAQ: AAL ). Compared to other airline stocks, American has almost no exposure. Yes, they operate 85 daily flights that utilize the Boeing 737 Max 8. However, they also run 6,700 departures throughout its vast aeronautical empire.
Just based on this context, you'd expect AAL stock to suffer the least among domestic airline stocks. Unfortunately, you would be completely wrong. Since the September 21st close of last year, shares have tanked almost 27%. Plus, the typical enthusiasm following the new year hasn't done anything for the airliner.
If you follow what the market is telling you, the approach explains itself: stay far away from AAL stock. And this is exactly the guidance I provided for conservative investors on Monday.
However, those who want to live dangerously have a speculative case. Because AAL stock has dropped much more than other airline stocks, it's likely to drive higher on any positive news. Just be sure you know where the exits are.
Delta Air Lines (DAL)
Source: via Delta
I have a love-hate relationship with Delta Air Lines (NYSE: DAL ). On the U.S.-side, their customer service is terrible. Strangely, though, they know how to treat their customers right. And their long-haul 767s don't feature the dreaded 3-4-3 seating configuration.
Traveling to Europe, though, you're going to hate life for the next several hours. That's because Delta partners with European airliners, and they go with the opposite philosophy: exemplary service in an inhumane environment.
As I was flying somewhere over the Atlantic Ocean, a thought crossed my mind. Delta does this because they know they can get away with it. Indeed, the profit margins supporting DAL stock are significantly higher compared to most airline stocks. While Southwest beats Delta in this department, I think their leverage towards the 737 Max 8 will rear its ugly head.
At this juncture, I don't really care for airliners. However, if I had to choose, I'd reluctantly go with DAL stock. They have the lucrative flights and the cutthroat mentality to thrive in this sector. Just don't expect me to like them because I don't.
As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities.
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The post Are These 3 Airline Stocks in for a Smooth Flight or More Turbulence? appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group (AAL) Source: Oliver Holzbauer via Flickr From an airline with a lot riding on the Max 8, we now move to American Airlines Group (NASDAQ: AAL ). Just based on this context, you'd expect AAL stock to suffer the least among domestic airline stocks. If you follow what the market is telling you, the approach explains itself: stay far away from AAL stock.
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American Airlines Group (AAL) Source: Oliver Holzbauer via Flickr From an airline with a lot riding on the Max 8, we now move to American Airlines Group (NASDAQ: AAL ). Just based on this context, you'd expect AAL stock to suffer the least among domestic airline stocks. If you follow what the market is telling you, the approach explains itself: stay far away from AAL stock.
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American Airlines Group (AAL) Source: Oliver Holzbauer via Flickr From an airline with a lot riding on the Max 8, we now move to American Airlines Group (NASDAQ: AAL ). Just based on this context, you'd expect AAL stock to suffer the least among domestic airline stocks. If you follow what the market is telling you, the approach explains itself: stay far away from AAL stock.
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Just based on this context, you'd expect AAL stock to suffer the least among domestic airline stocks. American Airlines Group (AAL) Source: Oliver Holzbauer via Flickr From an airline with a lot riding on the Max 8, we now move to American Airlines Group (NASDAQ: AAL ). If you follow what the market is telling you, the approach explains itself: stay far away from AAL stock.
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6562.0
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2019-03-14 00:00:00 UTC
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London's main index up as no-deal Brexit 'off the table'
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AAL
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https://www.nasdaq.com/articles/londons-main-index-no-deal-brexit-table-2019-03-14
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nan
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By Shashwat Awasthi and Muvija M
March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds.
The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red.
Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
But a vote in favour of postponing the leaving date still does not guarantee that Brexit will be delayed, as it would require unanimous approval from EU members, while the European Commission has stressed that there would need to be a good reason to justify a delay.
That did not stop financials from leading the charge on the main index with Lloyds and state-owned Royal Bank of Scotland adding 2 percent.
"The good news is that no-deal is off the table. The bad news is there isn't a table," said Raymond James analyst Chris Bailey.
"A bit more time is typically good but ultimately credibility will wither as we cannot kick the can down the road forever. But in this game of poker I guess it is all about forcing people to bend their views a bit more."
A rating upgrade by Morgan Stanleypushed the London-listed shares of travel group TUI by 4 percent, while Anglo American and building materials group CRH fell 3.6 percent and 1.4 percent, respectively, as they traded ex-dividend.
On the midcaps, landscaping products supplier Marshallsshot up by 7.1 percent to a record high as results showed it managed to increase profits despite Brexit uncertainties.
Cineworld added 4 percent as its results benefited from a string of blockbuster releases last year including action movies "Black Panther" and "Avengers: Infinity War" and "Bohemian Rhapsody".
The cinema operator touched a five-month high as it also hiked the cost savings target from its Regal Entertainment takeover, trumpeting the success of the integration.
Dragging on the index was Just Group that slipped 12.2 percent on its worst day in almost three years after announcing plans for a share placement and debt offering due to changes in capital requirement rules.
CMC Markets analyst Michael Hewson summed up that the UK markets have been held back by the Brexit process and anything that extends the decision would probably be the worst possible option because ultimately it would drag the uncertainty further out.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. Cineworld added 4 percent as its results benefited from a string of blockbuster releases last year including action movies "Black Panther" and "Avengers: Infinity War" and "Bohemian Rhapsody". Dragging on the index was Just Group that slipped 12.2 percent on its worst day in almost three years after announcing plans for a share placement and debt offering due to changes in capital requirement rules.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red. That did not stop financials from leading the charge on the main index with Lloyds and state-owned Royal Bank of Scotland adding 2 percent.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. But a vote in favour of postponing the leaving date still does not guarantee that Brexit will be delayed, as it would require unanimous approval from EU members, while the European Commission has stressed that there would need to be a good reason to justify a delay. A rating upgrade by Morgan Stanleypushed the London-listed shares of travel group TUI by 4 percent, while Anglo American and building materials group CRH fell 3.6 percent and 1.4 percent, respectively, as they traded ex-dividend.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red. Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
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6563.0
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2019-03-14 00:00:00 UTC
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FTSE 100 up as no-deal Brexit 'off the table'
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AAL
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https://www.nasdaq.com/articles/ftse-100-no-deal-brexit-table-2019-03-14
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nan
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nan
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By Shashwat Awasthi and Muvija M
March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds.
The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red.
Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
But a vote in favour of postponing the leaving date still does not guarantee that Brexit will be delayed, as it would require unanimous approval from EU members, while the European Commission has stressed that there would need to be a good reason to justify a delay.
That did not stop financials from leading the charge on the main index with Lloyds and state-owned Royal Bank of Scotland adding 2 percent.
"The good news is that no-deal is off the table. The bad news is there isn't a table," said Raymond James analyst Chris Bailey.
"A bit more time is typically good but ultimately credibility will wither as we cannot kick the can down the road forever. But in this game of poker I guess it is all about forcing people to bend their views a bit more."
A rating upgrade by Morgan Stanleypushed the London-listed shares of travel group TUI by 4 percent, while Anglo American and building materials group CRH fell 3.6 percent and 1.4 percent, respectively, as they traded ex-dividend.
On the midcaps, landscaping products supplier Marshallsshot up by 7.1 percent to a record high as results showed it managed to increase profits despite Brexit uncertainties.
Cineworld added 4 percent as its results benefited from a string of blockbuster releases last year including action movies "Black Panther" and "Avengers: Infinity War" and "Bohemian Rhapsody".
The cinema operator touched a five-month high as it also hiked the cost savings target from its Regal Entertainment takeover, trumpeting the success of the integration.
Dragging on the index was Just Group that slipped 12.2 percent on its worst day in almost three years after announcing plans for a share placement and debt offering due to changes in capital requirement rules.
CMC Markets analyst Michael Hewson summed up that the UK markets have been held back by the Brexit process and anything that extends the decision would probably be the worst possible option because ultimately it would drag the uncertainty further out.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. Cineworld added 4 percent as its results benefited from a string of blockbuster releases last year including action movies "Black Panther" and "Avengers: Infinity War" and "Bohemian Rhapsody". Dragging on the index was Just Group that slipped 12.2 percent on its worst day in almost three years after announcing plans for a share placement and debt offering due to changes in capital requirement rules.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red. That did not stop financials from leading the charge on the main index with Lloyds and state-owned Royal Bank of Scotland adding 2 percent.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. But a vote in favour of postponing the leaving date still does not guarantee that Brexit will be delayed, as it would require unanimous approval from EU members, while the European Commission has stressed that there would need to be a good reason to justify a delay. A rating upgrade by Morgan Stanleypushed the London-listed shares of travel group TUI by 4 percent, while Anglo American and building materials group CRH fell 3.6 percent and 1.4 percent, respectively, as they traded ex-dividend.
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By Shashwat Awasthi and Muvija M March 14 () - UK shares bagged another session of gains as financials cheered British lawmakers' rejection of a disruptive no-deal Brexit and oil majors rose on higher crude prices, but mid-cap retirement services specialist Just Group slumped on plans to raise funds. The FTSE 100 was 0.4 percent higher, marking its fourth consecutive session of rises and placing it on course for weekly gain after ending three weeks in the red. Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
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2019-03-14 00:00:00 UTC
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UK Stocks-Factors to watch on March 14
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https://www.nasdaq.com/articles/uk-stocks-factors-watch-march-14-2019-03-14
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March 14 () - Britain's FTSE 100 is seen opening 20 points lower at 7,139 on Thursday, according to financial bookmakers, while FTSE 100 futures were down 0.17 percent ahead of the cash market open.
* DEBENHAMS: British department store group Debenhams said on Thursday it would give "careful consideration" to a proposal from its biggest shareholder Sports Direct SPD.L to provide a 150 million pounds ($199 million) unsecured loan.
* DFS FURNITURE: DFS Furniture Plc on Thursday reported a surge in pretax profit in the first half, boosted by online sales and as it benefited from orders placed by customers who had deferred their purchases due to Britain's unusually hot summer in 2018.
* CAPITA: Britain's Capita posted a 26 fall in 2018 profit before tax, slightly ahead of guidance, as it battles to turn around its UK-dependent business in a sluggish economic climate.
* JUST GROUP: British retirement services specialist Just Group said on Thursday it would raise money through a placing to investors and debt offering, as it looks to strengthen its balance sheet amid changes to capital requirement rules.
* SPORTS DIRECT: Sports Direct said on Wednesday it offered Debenhams an interest-free loan in return for a further 5 percent stake, just as the department store chain was on the brink of securing funds to fend off a bid from Sports Direct's founder, Mike Ashley, to take charge of the company.
* DRAX: Britain'sDrax has been given government approval to build a 90 million pound ($118 million) gas plant in the east of England, the company said on Tuesday.
* GOLD: Gold fell on Thursday as the dollar regained some ground and uncertainty over Brexit eased, but the metal held close to a two-week high hit in the previous session as tepid U.S. inflation data cemented expectations that the Federal Reserve would hold rates.
* OIL: Oil prices nudged higher on Thursday to sit just off a four-month high reached in the previous session as investors focused on global production cuts and supply disruptions in Venezuela.
* EX-DIVS: Anglo American,CRH,Gvc Holdings and Land Secs. will trade without entitlement to their latest dividend pay-out on Thursday, trimming 3.6 points off the FTSE 100 according to calculations
* The UK blue chip index closed 0.11 percent up at 71559.19 on Wednesday with gains in oil majors offset by a drop in tobacco stocks and as investors remained cautious before of a second pivotal Brexit vote of the week.
* For more on the factors affecting European stocks, please click on:
TODAY'S UK PAPERS
> Financial Times
> Other business headlines
Multimedia versions of Top News are now available for:
* 3000 Xtra : visit
* For Top News :
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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* DFS FURNITURE: DFS Furniture Plc on Thursday reported a surge in pretax profit in the first half, boosted by online sales and as it benefited from orders placed by customers who had deferred their purchases due to Britain's unusually hot summer in 2018. * GOLD: Gold fell on Thursday as the dollar regained some ground and uncertainty over Brexit eased, but the metal held close to a two-week high hit in the previous session as tepid U.S. inflation data cemented expectations that the Federal Reserve would hold rates. will trade without entitlement to their latest dividend pay-out on Thursday, trimming 3.6 points off the FTSE 100 according to calculations * The UK blue chip index closed 0.11 percent up at 71559.19 on Wednesday with gains in oil majors offset by a drop in tobacco stocks and as investors remained cautious before of a second pivotal Brexit vote of the week.
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March 14 () - Britain's FTSE 100 is seen opening 20 points lower at 7,139 on Thursday, according to financial bookmakers, while FTSE 100 futures were down 0.17 percent ahead of the cash market open. * DEBENHAMS: British department store group Debenhams said on Thursday it would give "careful consideration" to a proposal from its biggest shareholder Sports Direct SPD.L to provide a 150 million pounds ($199 million) unsecured loan. * SPORTS DIRECT: Sports Direct said on Wednesday it offered Debenhams an interest-free loan in return for a further 5 percent stake, just as the department store chain was on the brink of securing funds to fend off a bid from Sports Direct's founder, Mike Ashley, to take charge of the company.
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* DEBENHAMS: British department store group Debenhams said on Thursday it would give "careful consideration" to a proposal from its biggest shareholder Sports Direct SPD.L to provide a 150 million pounds ($199 million) unsecured loan. * SPORTS DIRECT: Sports Direct said on Wednesday it offered Debenhams an interest-free loan in return for a further 5 percent stake, just as the department store chain was on the brink of securing funds to fend off a bid from Sports Direct's founder, Mike Ashley, to take charge of the company. will trade without entitlement to their latest dividend pay-out on Thursday, trimming 3.6 points off the FTSE 100 according to calculations * The UK blue chip index closed 0.11 percent up at 71559.19 on Wednesday with gains in oil majors offset by a drop in tobacco stocks and as investors remained cautious before of a second pivotal Brexit vote of the week.
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March 14 () - Britain's FTSE 100 is seen opening 20 points lower at 7,139 on Thursday, according to financial bookmakers, while FTSE 100 futures were down 0.17 percent ahead of the cash market open. * DEBENHAMS: British department store group Debenhams said on Thursday it would give "careful consideration" to a proposal from its biggest shareholder Sports Direct SPD.L to provide a 150 million pounds ($199 million) unsecured loan. * DFS FURNITURE: DFS Furniture Plc on Thursday reported a surge in pretax profit in the first half, boosted by online sales and as it benefited from orders placed by customers who had deferred their purchases due to Britain's unusually hot summer in 2018.
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2019-03-14 00:00:00 UTC
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Boeing 737 MAX jets could be grounded for weeks as black box probe to start on Ethiopia crash
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https://www.nasdaq.com/articles/boeing-737-max-jets-could-be-grounded-weeks-black-box-probe-start-ethiopia-crash-2019-03
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By David Shepardson, Richard Lough and Aaron Maasho
WASHINGTON/PARIS/ADDIS ABABA, March 14 () - Boeing Co's 737 MAX 8 and 9 planes will be grounded for weeks if not longer until a software upgrade can be tested and installed, U.S. lawmakers said on Thursday, as officials in France prepare to begin analysing the black boxes from a jet that crashed in Ethiopia.
Boeing said it had paused deliveries of its fastest-selling 737 MAX aircraft built at its factory near Seattle but continues to produce its single-aisle jets at full speed while dealing with the worldwide fleet's grounding.
Possible links between the accidents have rocked the aviation industry, scared passengers, and left the world's biggest planemaker scrambling to prove the safety of a money-spinning model intended to be the standard for decades.
U.S. Representative Rick Larsen said after a briefing with U.S. aviation officials the software upgrade would take a few weeks to complete, and installing it on all aircraft would take "at least through April." He said additional training would also have to take place.
Boeing has said it would roll out the software improvement "across the 737 MAX fleet in the coming weeks."
Relatives of the dead stormed out of a meeting with Ethiopian Airlines on Thursday, decrying a lack of transparency, while others made the painful trip to the crash scene.
"I can't find you! Where are you?" said one Ethiopian woman, draped in traditional white mourning shawl, as she held a framed portrait of her brother in the charred and debris-strewn field.
After an apparent tussle over where the investigation should be held, the flight data and cockpit voice recorders were handed over to France'sBureau of Enquiry and Analysis for Civil Aviation Safety (BEA).
Technical analysis would begin on Friday and the first conclusions could take several days, the BEA said, posting a picture of the partly crumpled, orange-cased box.
Nations around the world, including an initially reluctant United States, have suspended the 371 MAX models in operation, though airlines are largely coping by switching planes.
Nearly 5,000 MAXs are on order, meaning the financial implications are huge for the industry. Moody's rating agency said the fallout from the crash would not immediately affect Boeing's credit rating.
"We continue to build 737 MAX airplanes while assessing how the situation, including potential capacity constraints, will impact our production system," Boeing spokesman Chaz Bickers said.
Boeing would maintain its production rate of 52 aircraft per month, and its newest version, the MAX, represents the lion's share, although Boeing declined to break out exact numbers.
CONNECTION TO INDONESIA CRASH?
The investigation of Sunday's crash has added urgency since the U.S. Federal Aviation Administration (FAA) on Wednesday grounded the 737 MAX aircraft, citing satellite data and evidence from the scene that indicated some similarities and "the possibility of a shared cause" with October's crash in Indonesia that killed 189 people.
Though it maintains the planes are safe, Boeing has supported the FAA move. Its stock is down about 11 percent since the crash, wiping more than $26 billion off its market value. It fell 1 percent on Thursday.
U.S. and Canadian carriers wrestled with customer calls and flight cancellations and Southwest Airlines Co and American Airlines Group Inc, the largest U.S. operators of the 737 MAX, said they had started flying empty MAX aircraft to be parked elsewhere during the ban.
U.S. President Donald Trump, an aviation enthusiast with deep ties to Boeing, said he hoped the suspensions would be short. "They have to figure it out fast," Trump told reporters at the White House.
A software fix for the 737 MAX that Boeing has been working on since the Lion Air crash in October in Indonesia will take months to complete, the FAA said on Wednesday.
And in what may presage a raft of claims, Norwegian Air has said it will seek compensation from Boeing for costs and lost revenue after grounding its fleet of 737 MAX.
Japan became the latest nation to suspend the 737 MAX planes on Thursday. And airline Garuda Indonesia said there was a possibility it would cancel its 20-strong order of 737 MAXs.
WHAT HAPPENED?
Under international rules, Ethiopians are leading the investigation but France's BEA will conduct black box analysis as an adviser. The U.S. National Transportation Safety Board (NTSB) was also sending three investigators to assist.
Only France and the United States have the experience gleaned from being present at almost every crash involving an Airbus or Boeing respectively.
The cause of the Indonesian crash is still being investigated. A November preliminary report, before the retrieval of the cockpit voice recorder, focused on maintenance and training and the response of a Boeing anti-stall system to a recently replaced sensor, but gave no reason for the crash.
The pilot of Ethiopian Airlines Flight 302 had reported internal control problems and received permission to return, before the plane came down and burst into a fireball on arid farmland.
GRAPHIC:Ethiopian Airlines crash interactive
Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
Writing by Andrew Cawthorne and Ben Klayman; Editing by Jon Boyle, Nick Zieminski and Grant McCool)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson, Richard Lough and Aaron Maasho WASHINGTON/PARIS/ADDIS ABABA, March 14 () - Boeing Co's 737 MAX 8 and 9 planes will be grounded for weeks if not longer until a software upgrade can be tested and installed, U.S. lawmakers said on Thursday, as officials in France prepare to begin analysing the black boxes from a jet that crashed in Ethiopia. Possible links between the accidents have rocked the aviation industry, scared passengers, and left the world's biggest planemaker scrambling to prove the safety of a money-spinning model intended to be the standard for decades. A November preliminary report, before the retrieval of the cockpit voice recorder, focused on maintenance and training and the response of a Boeing anti-stall system to a recently replaced sensor, but gave no reason for the crash.
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Nations around the world, including an initially reluctant United States, have suspended the 371 MAX models in operation, though airlines are largely coping by switching planes. A software fix for the 737 MAX that Boeing has been working on since the Lion Air crash in October in Indonesia will take months to complete, the FAA said on Wednesday. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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By David Shepardson, Richard Lough and Aaron Maasho WASHINGTON/PARIS/ADDIS ABABA, March 14 () - Boeing Co's 737 MAX 8 and 9 planes will be grounded for weeks if not longer until a software upgrade can be tested and installed, U.S. lawmakers said on Thursday, as officials in France prepare to begin analysing the black boxes from a jet that crashed in Ethiopia. The investigation of Sunday's crash has added urgency since the U.S. Federal Aviation Administration (FAA) on Wednesday grounded the 737 MAX aircraft, citing satellite data and evidence from the scene that indicated some similarities and "the possibility of a shared cause" with October's crash in Indonesia that killed 189 people. GRAPHIC:Ethiopian Airlines crash interactive Boeing's struggles: Financial hit to Boeing from grounding planes, geopolitical implications, too (graphic).
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Nations around the world, including an initially reluctant United States, have suspended the 371 MAX models in operation, though airlines are largely coping by switching planes. A software fix for the 737 MAX that Boeing has been working on since the Lion Air crash in October in Indonesia will take months to complete, the FAA said on Wednesday. Under international rules, Ethiopians are leading the investigation but France's BEA will conduct black box analysis as an adviser.
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2019-03-14 00:00:00 UTC
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Families of Ethiopian plane disaster victims steel themselves for journey to crash site
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https://www.nasdaq.com/articles/families-ethiopian-plane-disaster-victims-steel-themselves-journey-crash-site-2019-03-14
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By Aaron Maasho
ADDIS ABABA, March 14 () - Ethiopians clad in traditional mourning shawls and other black clothing gathered silently in a hotel conference room in Addis Ababa on Thursday, the loved ones of victims of ET Flight 302, before boarding buses headed for the crash site.
Couples held each other, slumped forward in their chairs and gazing downwards. Some men held their heads in their hands. Women in head scarves leaned for comfort against the chests of their relatives.
An airlines staff member replied that the crash was under investigation and that more details were emerging day by day.
A stoic man in a dark coat said he was steeling himself for the three-hour journey to the crash site.
Tewfik Ahmed, 39, was raised by the father of Ahmed Nur Mohammed, the deputy pilot of ET 302. Tewfik travelled from his home in the south of the country to pay his respects.
"Ahmed was the pride of the family," he told , seated alongside several other mourners. "Heading to the site is the least I can do for him."
All 149 passengers and eight crew aboard the flight were killed when their Ethiopian Airlines Boeing 737 MAX 8 crashed six minutes after taking off from the high-altitude capital of Ethiopia. The nation of 105 million people has long been proud of its state-owned airlines, its most successful company and the only profitable airline in sub-Saharan Africa.
Nine Ethiopians were killed in the crash, along with 32 Kenyans, 18 Canadians, and eight people each from China and Italy. A total of 35 nationalities were on board.
The mourners gathered at the Ethiopian Airlines-owned Skylight Hotel near Bole International Airport. Some held up framed photographs of young loved ones.
The room filled over the course of a half hour, becoming a packed, makeshift grieving centre.
An Ethiopian Airlines staff member, also wearing black, told the mourners it was offering them free accommodation. She also said the company would provide counselling. The staff members were flanked by bouquets of white roses and white candles.
BLACK BOXES FLOWN TO PARIS
The embassies of Canada, China, and Kenya had also asked Ethiopian Airlines to set up conference rooms for the families of victims from their countries. Early on Thursday morning, those rooms contained the national flags of those countries, but no relatives or friends of the victims.
The airline said on Twitter that an Ethiopian delegation had flown the black boxes from flight ET 302 to Paris for investigation. The contents of the flight data recorder and cockpit voice recorder will provide critical details about what happened, experts say.
The crash was the second disaster involving the 737 MAX, the world's most-sold modern passenger aircraft, in less than five months, and by the end of Wednesday, the jet had been grounded globally by regulators and airlines.
The jet plunged into a field 60 km outside Addis Ababa, and the impact of the crash and fire left the victims' remains in fragments that could take weeks or months to identify, experts say.
In both the Ethiopian Orthodox and Muslim faiths that are widely practised in the country, religious rules call for the burial of the dead as soon as possible.
Hamze Abdi Hussein came from the eastern Ethiopian town of Jijiga with five other family members after receiving confirmation of the crash that killed his uncle, Mucaad Hussein Abdela, a truck driver from Minnesota who was on his way to Kenya to visit relatives.
"We visited the crash site yesterday and we are heading there today. It is a huge loss for us," he told . "The fact that there is no information about whether we will receive the body or not is frustrating and painful. There is not much that we are getting."
After the brief Q and A session, the Ethiopian mourners filed silently out of the room and slowly boarded the convoy of eight Ethiopian Airlines buses.
The mourners looked like travellers themselves. Except they carried no luggage, only items to honour the dead in their final resting place.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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All 149 passengers and eight crew aboard the flight were killed when their Ethiopian Airlines Boeing 737 MAX 8 crashed six minutes after taking off from the high-altitude capital of Ethiopia. The crash was the second disaster involving the 737 MAX, the world's most-sold modern passenger aircraft, in less than five months, and by the end of Wednesday, the jet had been grounded globally by regulators and airlines. The jet plunged into a field 60 km outside Addis Ababa, and the impact of the crash and fire left the victims' remains in fragments that could take weeks or months to identify, experts say.
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By Aaron Maasho ADDIS ABABA, March 14 () - Ethiopians clad in traditional mourning shawls and other black clothing gathered silently in a hotel conference room in Addis Ababa on Thursday, the loved ones of victims of ET Flight 302, before boarding buses headed for the crash site. An Ethiopian Airlines staff member, also wearing black, told the mourners it was offering them free accommodation. The embassies of Canada, China, and Kenya had also asked Ethiopian Airlines to set up conference rooms for the families of victims from their countries.
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By Aaron Maasho ADDIS ABABA, March 14 () - Ethiopians clad in traditional mourning shawls and other black clothing gathered silently in a hotel conference room in Addis Ababa on Thursday, the loved ones of victims of ET Flight 302, before boarding buses headed for the crash site. Hamze Abdi Hussein came from the eastern Ethiopian town of Jijiga with five other family members after receiving confirmation of the crash that killed his uncle, Mucaad Hussein Abdela, a truck driver from Minnesota who was on his way to Kenya to visit relatives. After the brief Q and A session, the Ethiopian mourners filed silently out of the room and slowly boarded the convoy of eight Ethiopian Airlines buses.
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By Aaron Maasho ADDIS ABABA, March 14 () - Ethiopians clad in traditional mourning shawls and other black clothing gathered silently in a hotel conference room in Addis Ababa on Thursday, the loved ones of victims of ET Flight 302, before boarding buses headed for the crash site. "Ahmed was the pride of the family," he told , seated alongside several other mourners. An Ethiopian Airlines staff member, also wearing black, told the mourners it was offering them free accommodation.
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2019-03-14 00:00:00 UTC
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Boeing 737 MAX deliveries in limbo after deadly crash
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https://www.nasdaq.com/articles/boeing-737-max-deliveries-limbo-after-deadly-crash-2019-03-14
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By Conor Humphries and Eric M. Johnson
DUBLIN/SEATTLE, March 13 () - Deliveries of Boeing's best-selling 737 MAX jets were effectively frozen on Wednesday, though production continued, after the United States joined a global grounding of the narrowbody model over safety concerns, industry sources said.
The 737 MAX is banned from flying in most countries across the world following an Ethiopian Airlines crash on Sunday that killed all 157 people on board. It was the second deadly incident for the relatively new Boeing model in five months.
"Who is going to take delivery of a plane they can't use," said an aviation financier, asking not to be named.
Boeing produces 52 aircraft per month and its newest version, the MAX, represents the lion's share of production, although Boeing declined to break out exact numbers.
Boeing is expected to continue with production of the 737 at its factory outside Seattle, and has been planning to speed up production again in June.
Manufacturers avoid halting and then speeding up production as this disrupts supply chains and can cause industrial snags. But having to hold planes in storage consumes extra cash in increased inventory.
Each month of the grounding could cost Boeing around $1.8 billion to $2.5 billion in delayed revenue, according to analyst estimates, although that could be recouped once the ban is lifted and the planes are delivered.
Boeing in January provided guidance it would report $109.5 billion to $111.5 billion of revenue in 2019.
Asked how the global grounding of the 737 MAX would impact deliveries, a Boeing spokesman said: "We continue to assess."
Boeing's main U.S. customers -- Southwest Airlines Co, American Airlines Group Inc and United Airlines -- declined comment. So far they have voiced their confidence in the safety of the MAX.
"Although this MAX crash is clearly 'bad news' for Boeing, we think the company will ultimately battle through," Vertical Research Partners analyst Robert Stallard said in a client note.
COMPENSATION
Boeing has already been working through supplier delays on engines from CFM International, a joint venture between General Electric Co and France'sSafran SA, and fuselages from Spirit AeroSystems Holdings Inc that led to dozens of planes being parked outside its Renton, Washington factory last summer.
This week, at least three freshly built 737s were parked at or near the factory with yellow weights hanging in the place of engines, signs of lingering issues, according to a person with direct knowledge of the matter.
"We are still a few weeks behind the requirement, but have a line of sight to be back on track in the second quarter of this year," CFM spokeswoman Jamie Jewell said.
Boeing's 787 Dreamliner was grounded for 123 days in 2013 after its lithium-ion battery packs caught fire. The jet went on to become a popular twin-aisle with a strong safety record.
Aircraft contracts do not typically contain a clause that automatically allows airlines to claim compensation for a regulatory action like a grounding.
However, planemakers do sometimes pay out compensation to cover the cost of financing when an airline is left without a promised airplane, said a senior industry source.
Even then, they generally balk at paying for other indirect costs borne by the airline.
UK-based aviation consultancy IBA estimated the financing cost of a 737 MAX at $360,000 a month or $12,000 a day.
Norwegian Air said on Wednesday it would seek compensation from plane maker Boeing for costs and lost revenue due to the 737 MAX 8 grounding.
Stallard said it was very difficult to estimate the amount of compensation Boeing would provide customers.
He added it would be impractical for airlines to try to switch their orders to the rival Airbus SE A320 narrowbody because there were no delivery slots available for a few years.
(Reporing by Conor Humphries in Dublin and Eric Johnson in Seattle; Additional reporting by Jamie Freed in Singapore, Tracy Rucinski in Chicago, Tom Westbrook in Sydney, Cindy Silviana in Jakarta, Heekyong Yang in Seoul, Aditi Shah in New Delhi, James Pearson in Hanoi and Alwyn Scott in New York; Writing by Tracy Rucinski; editing by Tim Hepher and Michael Perry)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Conor Humphries and Eric M. Johnson DUBLIN/SEATTLE, March 13 () - Deliveries of Boeing's best-selling 737 MAX jets were effectively frozen on Wednesday, though production continued, after the United States joined a global grounding of the narrowbody model over safety concerns, industry sources said. Boeing has already been working through supplier delays on engines from CFM International, a joint venture between General Electric Co and France'sSafran SA, and fuselages from Spirit AeroSystems Holdings Inc that led to dozens of planes being parked outside its Renton, Washington factory last summer. (Reporing by Conor Humphries in Dublin and Eric Johnson in Seattle; Additional reporting by Jamie Freed in Singapore, Tracy Rucinski in Chicago, Tom Westbrook in Sydney, Cindy Silviana in Jakarta, Heekyong Yang in Seoul, Aditi Shah in New Delhi, James Pearson in Hanoi and Alwyn Scott in New York; Writing by Tracy Rucinski; editing by Tim Hepher and Michael Perry) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Conor Humphries and Eric M. Johnson DUBLIN/SEATTLE, March 13 () - Deliveries of Boeing's best-selling 737 MAX jets were effectively frozen on Wednesday, though production continued, after the United States joined a global grounding of the narrowbody model over safety concerns, industry sources said. Each month of the grounding could cost Boeing around $1.8 billion to $2.5 billion in delayed revenue, according to analyst estimates, although that could be recouped once the ban is lifted and the planes are delivered. (Reporing by Conor Humphries in Dublin and Eric Johnson in Seattle; Additional reporting by Jamie Freed in Singapore, Tracy Rucinski in Chicago, Tom Westbrook in Sydney, Cindy Silviana in Jakarta, Heekyong Yang in Seoul, Aditi Shah in New Delhi, James Pearson in Hanoi and Alwyn Scott in New York; Writing by Tracy Rucinski; editing by Tim Hepher and Michael Perry) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Conor Humphries and Eric M. Johnson DUBLIN/SEATTLE, March 13 () - Deliveries of Boeing's best-selling 737 MAX jets were effectively frozen on Wednesday, though production continued, after the United States joined a global grounding of the narrowbody model over safety concerns, industry sources said. Boeing produces 52 aircraft per month and its newest version, the MAX, represents the lion's share of production, although Boeing declined to break out exact numbers. Each month of the grounding could cost Boeing around $1.8 billion to $2.5 billion in delayed revenue, according to analyst estimates, although that could be recouped once the ban is lifted and the planes are delivered.
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By Conor Humphries and Eric M. Johnson DUBLIN/SEATTLE, March 13 () - Deliveries of Boeing's best-selling 737 MAX jets were effectively frozen on Wednesday, though production continued, after the United States joined a global grounding of the narrowbody model over safety concerns, industry sources said. Boeing is expected to continue with production of the 737 at its factory outside Seattle, and has been planning to speed up production again in June. UK-based aviation consultancy IBA estimated the financing cost of a 737 MAX at $360,000 a month or $12,000 a day.
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2019-03-14 00:00:00 UTC
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FTSE 100 rises as lawmakers vote down no-deal Brexit
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https://www.nasdaq.com/articles/ftse-100-rises-lawmakers-vote-down-no-deal-brexit-2019-03-14
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March 14 () - UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds.
The FTSE 100 was 0.4 percent higher by 0855 GMT, its fourth straight session of gains, while the FTSE 250 was up by 0.1 percent.
Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
"The good news is that no-deal is off the table. The bad news is there isn't a table," said Raymond James analyst Chris Bailey.
That did not stop financials from leading gains on the main index with Lloyds, Barclays and state-owned Royal Bank of Scotland adding nearly 2 percent.
Oil majors Shell and BP extended gains from a day earlier as oil prices hit their highest this year, driven by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran.
London-listed shares of travel group TUI jumped 3.1 percent after Morgan Stanley raised its rating on the stock.
But capping gains were Anglo American and Irish building materials group CRH, which each lost 2.5 percent as the stocks traded ex-dividend.
On the midcaps, Just Group slid 16.5 percent and was on track for its worst day since June 2016 after it said it would raise money through a share placement and debt offering due to changes in capital requirement rules.
Results drove some moves on the FTSE 250 index as well.
Property agent Savills slipped 5 percent after a cautious 2019 outlook and outsourcing firm Capita shed 3.6 percent after its 2018 revenue missed consensus and it forecast net debt at the higher end of its guidance range.
But Cineworld surged 5.3 percent on course for its best day since August after its full-year report.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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March 14 () - UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds. That did not stop financials from leading gains on the main index with Lloyds, Barclays and state-owned Royal Bank of Scotland adding nearly 2 percent. On the midcaps, Just Group slid 16.5 percent and was on track for its worst day since June 2016 after it said it would raise money through a share placement and debt offering due to changes in capital requirement rules.
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March 14 () - UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds. The FTSE 100 was 0.4 percent higher by 0855 GMT, its fourth straight session of gains, while the FTSE 250 was up by 0.1 percent. Oil majors Shell and BP extended gains from a day earlier as oil prices hit their highest this year, driven by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran.
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March 14 () - UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds. The FTSE 100 was 0.4 percent higher by 0855 GMT, its fourth straight session of gains, while the FTSE 250 was up by 0.1 percent. Property agent Savills slipped 5 percent after a cautious 2019 outlook and outsourcing firm Capita shed 3.6 percent after its 2018 revenue missed consensus and it forecast net debt at the higher end of its guidance range.
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March 14 () - UK shares rose on Thursday as financials cheered British lawmakers' rejection of a no-deal Brexit and oil majors were buoyed by higher crude prices, but mid-cap retirement services specialist Just Group slumped following plans to raise funds. The FTSE 100 was 0.4 percent higher by 0855 GMT, its fourth straight session of gains, while the FTSE 250 was up by 0.1 percent. Wednesday's parliamentary vote paved the way for another one on Thursday that could delay Britain's exit from the European Union until at least the end of June.
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6569.0
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2019-03-13 00:00:00 UTC
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Ethiopia crash pilot had control problems, black boxes bound for Europe
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AAL
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https://www.nasdaq.com/articles/ethiopia-crash-pilot-had-control-problems-black-boxes-bound-europe-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6570.0
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2019-03-13 00:00:00 UTC
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Boeing faces crisis with worldwide grounding of 737 MAX jetliners
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AAL
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https://www.nasdaq.com/articles/boeing-faces-crisis-worldwide-grounding-737-max-jetliners-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6571.0
|
2019-03-13 00:00:00 UTC
|
Ethiopia sends Boeing black boxes abroad, Norway airline wants compensation
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AAL
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https://www.nasdaq.com/articles/ethiopia-sends-boeing-black-boxes-abroad-norway-airline-wants-compensation-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6572.0
|
2019-03-13 00:00:00 UTC
|
Ethiopia to send Boeing black boxes abroad, Norway airline wants compensation
|
AAL
|
https://www.nasdaq.com/articles/ethiopia-send-boeing-black-boxes-abroad-norway-airline-wants-compensation-2019-03-13
|
nan
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nan
|
By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6573.0
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2019-03-13 00:00:00 UTC
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U.S. will not suspend Boeing 737 MAX planes; discussion on black box analysis
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AAL
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https://www.nasdaq.com/articles/us-will-not-suspend-boeing-737-max-planes-discussion-black-box-analysis-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6574.0
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2019-03-13 00:00:00 UTC
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Germany will not look at crashed Boeing 737 MAX black box, Canada grounds jets
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AAL
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https://www.nasdaq.com/articles/germany-will-not-look-crashed-boeing-737-max-black-box-canada-grounds-jets-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6575.0
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2019-03-13 00:00:00 UTC
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U.S. joins other nations in grounding 737 MAX jets after second crash
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AAL
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https://www.nasdaq.com/articles/us-joins-other-nations-grounding-737-max-jets-after-second-crash-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6576.0
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2019-03-13 00:00:00 UTC
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Ethiopia crash pilot had in-plane issues, victims mourned
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AAL
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https://www.nasdaq.com/articles/ethiopia-crash-pilot-had-plane-issues-victims-mourned-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6577.0
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2019-03-13 00:00:00 UTC
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Canada grounds Boeing 737 MAX jets following Ethiopia crash
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AAL
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https://www.nasdaq.com/articles/canada-grounds-boeing-737-max-jets-following-ethiopia-crash-2019-03-13
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nan
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nan
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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2019-03-13 00:00:00 UTC
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Kayak soothes nervous Boeing flyers with airplane search filter
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https://www.nasdaq.com/articles/kayak-soothes-nervous-boeing-flyers-airplane-search-filter-2019-03-13
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By Sanjana Shivdas and Lefteris Karagiannopoulos
BENGALURU/OSLO, March 13 () - Travel website Kayak is making changes to let customers exclude specific aircraft types from searches, and booking sites are looking to reroute passengers, after an unexplained Boeing jet crash that killed 157 people in Ethiopia.
The first move by one of the big U.S. travel websites to adapt its service came as hundreds of jittery customers of Southwest, United and American Airlines took to social media to seek flights on planes other than the Boeing 737 MAX, which was involved in the fatal crash on Sunday.
"We've recently received feedback to make Kayak's filters more granular in order to exclude particular aircraft models from search queries," a spokeswoman for the website told in an email responding to questions.
"We are releasing that enhancement this week and are committed to providing our customers with all the information they need to travel with confidence."
Kayak is a sister site of Booking.com and Agoda.com, used by millions of travelers each year to book flights and hotels.
Carlson Wagonlit Travel, which manages travel for big global businesses, said some clients had asked to explore the possibility of temporarily restricting travel on Boeing 737 MAX 8 planes.
"This could potentially result in travelers being left with fewer flight options and susceptible to higher airfares, depending on the route," CWT said. "We are working with clients to understand the practicality and the implications of putting such restrictions in place."
The Twitter accounts of Southwest and American Airlines were swamped with customers asking for refunds or to be moved to other flights, and complaints about long hold times before being connected to a representative.
Twitter user @johnpauli6 wrote to Southwest that he does not want to be on a Boeing 737 MAX 8 when he travels with his wife on Saturday. "Get ready for a lot of lawsuits" if anything happens, the user said.
American Airlines Group Inc said late on Wednesday it was working to re-book customers due to fly on the 737 MAX as quickly as possible after the United States banned the aircraft.
Southwest, the world's largest operator of the 737 MAX 8 with 34 jets, said it is waiving any fare-difference charges for customers who wish to switch to another aircraft following bans across much of the world.
Boeing has been mentioned more than 590,000 times on Twitter, a 2,300 percent increase from median daily mentions figures.
The crash in Ethiopia was the second in the last five months involving a Boeing 737 MAX 8. Last year, a Lion Air jet went down in Indonesia, killing 189 people.
Though there is no proof of links, multiple nations and the European Union have suspended the 737 MAX.
Boeing has said it has no reason to doubt the airplane, and Southwest and American have both said their fleet data showed the plane was safe.
"While the situation has not stopped people traveling on business, many want to know what plane they'll be flying on," said a spokesman for American Express Global Business Travel, another major corporate provider.
"When a traveler books a trip, we know at that moment what aircraft type is assigned to service the flight. However, that can change at an airline's discretion up until the time of departure."
'PHONE CALLS KEEP COMING'
Temporary bouts of nerves among travelers are a familiar part of the reaction to major crashes, and agents booking travel for major executives have remained cautious about making changes to booking systems in response to the Boeing row.
Norwegian travel agent Berg-Hansen, dealing with cancellations of flights on Norwegian Air's 737 MAX planes, said clients were mainly concerned with whether their flights were still scheduled to fly and the need to re-book if so.
"We have increased our staff from last night, through the night and now," Berg-Hansen Chief Executive Officer Per-Arne Villadsen said.
"Remarkably we have less phone calls than we expected, although they are more than usual. We had around 100 phone calls from midnight to 7 a.m. this morning and they keep coming."
He said the company was using alternative airlines including SAS, AirFrance and KLM to re-book and that he believed customers would come back to Norwegian Air if they reopened flights on the MAX in the future.
"We can confirm a rising interest on the aircraft types we are operating," a spokesman for Swedish-based SAS said. "I can guarantee you that we have not even considered changing any pricing policy due to the tragic situation."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Sanjana Shivdas and Lefteris Karagiannopoulos BENGALURU/OSLO, March 13 () - Travel website Kayak is making changes to let customers exclude specific aircraft types from searches, and booking sites are looking to reroute passengers, after an unexplained Boeing jet crash that killed 157 people in Ethiopia. The first move by one of the big U.S. travel websites to adapt its service came as hundreds of jittery customers of Southwest, United and American Airlines took to social media to seek flights on planes other than the Boeing 737 MAX, which was involved in the fatal crash on Sunday. "We've recently received feedback to make Kayak's filters more granular in order to exclude particular aircraft models from search queries," a spokeswoman for the website told in an email responding to questions.
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By Sanjana Shivdas and Lefteris Karagiannopoulos BENGALURU/OSLO, March 13 () - Travel website Kayak is making changes to let customers exclude specific aircraft types from searches, and booking sites are looking to reroute passengers, after an unexplained Boeing jet crash that killed 157 people in Ethiopia. "While the situation has not stopped people traveling on business, many want to know what plane they'll be flying on," said a spokesman for American Express Global Business Travel, another major corporate provider. Temporary bouts of nerves among travelers are a familiar part of the reaction to major crashes, and agents booking travel for major executives have remained cautious about making changes to booking systems in response to the Boeing row.
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By Sanjana Shivdas and Lefteris Karagiannopoulos BENGALURU/OSLO, March 13 () - Travel website Kayak is making changes to let customers exclude specific aircraft types from searches, and booking sites are looking to reroute passengers, after an unexplained Boeing jet crash that killed 157 people in Ethiopia. The first move by one of the big U.S. travel websites to adapt its service came as hundreds of jittery customers of Southwest, United and American Airlines took to social media to seek flights on planes other than the Boeing 737 MAX, which was involved in the fatal crash on Sunday. Carlson Wagonlit Travel, which manages travel for big global businesses, said some clients had asked to explore the possibility of temporarily restricting travel on Boeing 737 MAX 8 planes.
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By Sanjana Shivdas and Lefteris Karagiannopoulos BENGALURU/OSLO, March 13 () - Travel website Kayak is making changes to let customers exclude specific aircraft types from searches, and booking sites are looking to reroute passengers, after an unexplained Boeing jet crash that killed 157 people in Ethiopia. The first move by one of the big U.S. travel websites to adapt its service came as hundreds of jittery customers of Southwest, United and American Airlines took to social media to seek flights on planes other than the Boeing 737 MAX, which was involved in the fatal crash on Sunday. Carlson Wagonlit Travel, which manages travel for big global businesses, said some clients had asked to explore the possibility of temporarily restricting travel on Boeing 737 MAX 8 planes.
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6579.0
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2019-03-13 00:00:00 UTC
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737 Max Faces Two Fatal Crashes: What's in Store for Boeing?
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AAL
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https://www.nasdaq.com/articles/737-max-faces-two-fatal-crashes-whats-store-boeing-2019-03-13
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While the broader U.S. stock market started this week on a solid note, the same cannot be said about the Dow Jones Industrial Average, which rather unfortunately registered its widest deviation from the S&P 500 over a two-day span in years. In the past two trading sessions, the S&P 500 outperformed the Dow by 1.36 percentage points, the widest gap since Oct 21, 2014 when the broader market benchmark had outpaced the blue-chip index by 1.44 percentage points, per the Dow Jones Market Data.
Indubitably, The Boeing Company BA is to be blamed for the two-day divergence between the S&P 500 and the Dow. Tragedy struck the airliner when one of its Boeing 737 Max 8 crashed in Ethiopia on Sunday, killing all 157 people on board. Such a devastating event raised concerns about the new model of the aircraft. After all, the same model also went down in Indonesia last October, killing 189 people. The flight had downright lost communication with air traffic controllers six minutes after takeoff.
Needless to say, Boeing's shares went tumbling $47.13, or 11.2%, since Friday's close. By the way, it's the biggest two-day selloff for Boeing in nearly a decade. And it's all because of an array of regulatory authorities across the globe grounding the 737 Max aircraft, thanks to the second deadly crash in consecutive weekends.
In fact, airline stocks in general had to bear the brunt of the crash, even without having exposure to 737 Max. Well! That's purely panic driven as traders pulled money out of the airline industry at least for the time being. Prominent airline stocks such as American Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL to name a few saw their shares decline more than 2% following the crash news.
Is Boeing Doomed or Will It Bounce Back?
Prima facie Boeing is in deep trouble. But, let's admit that even after this drubbing, Boeing's share price is at $375.41 and remains the highest among the Dow components. Moreover, it's likely to hover near that price since it's too early to tell whether the airplane itself is to be held responsible for the twin crashes. Investigations are, after all, still in early stages. Let us not forget that maintenance crew do update software on a regular basis, so we can vouch that the software isn't the culprit behind the crashes.
So, if anyone is to be blamed it maybe the flights crew and the training they received. It's also worth pointing out that even though the pilot and the copilot had completed the required hours of flight time, did they really receive enough training in a computer simulator. Don't forget that such training is equally important if not more than the total amount of flight time.
Now, some may say that let the investigation conclude the fate of Boeing. Let me enlighten them that whatever is the result, Boeing isn't going down and President Trump just simply won't ground the Boeing 737 MAX airliner. And why so? Simply because there are only a few American companies more valuable than Boeing. And he cannot let anyone meddle with its brand name. It employs almost 150,000 workers, exports several planes around the globe and along with Airbus leads the world market for airliners.
To top it, Boeing makes a hell of a lot of weapons for the U.S. military. And Defense Secretary Patrick Shanahan, who has worked at the top level for almost 30 years at Boeing, is known to be Boeing biased. This means a whole heap of defense contracts may land on Boeing's feet. Thus, going forward, Boeing's shares are expected to gain traction as the firm frequently tops the list of government contractors.
Boeing Essentially is Doing Good
Boeing has for a prolonged period of time quite efficaciously weathered all kinds of bottlenecks and improved shareholders wealth through dividend payments and share buybacks. The company has unfailingly paid quarterly dividends for the last eight decades and increased its dividend payout once every four quarters for the last seven years. In fact, Boeing's quarterly dividends soared 389% in the last seven years.
At the same time, Boeing initiated its first share buyback program in 2013. Since then, Boeing has repurchased $41 billion worth of its own shares.
Boeing currently sports a Zacks Rank #1 (Strong Buy). In the past 60 days, Boeing has seen nine earnings estimates move up, while none moved down for the current year. The Zacks Consensus Estimate for earnings increased 10.5% in the same period. You can see the complete list of today's Zacks #1 Rank stocks here .
The company's expected earnings growth rate, meanwhile, for the current year is 25.7%, more than the Aerospace - Defense industry's projected gain of 3.3%. The company has already outperformed the broader industry so far this year (+16.4% vs +14.1%).
Consequently, you can very well shrug off the two-day drop Boeing witnessed. In fact, you can now buy Boeing stock without burning a big hole in your pocket.
Zacks' Top 10 Stocks for 2019
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Southwest Airlines Co. (LUV): Free Stock Analysis Report
United Continental Holdings, Inc. (UAL): Free Stock Analysis Report
American Airlines Group Inc. (AAL): Free Stock Analysis Report
The Boeing Company (BA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Prominent airline stocks such as American Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL to name a few saw their shares decline more than 2% following the crash news. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. While the broader U.S. stock market started this week on a solid note, the same cannot be said about the Dow Jones Industrial Average, which rather unfortunately registered its widest deviation from the S&P 500 over a two-day span in years.
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Prominent airline stocks such as American Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL to name a few saw their shares decline more than 2% following the crash news. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Prominent airline stocks such as American Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL to name a few saw their shares decline more than 2% following the crash news. Let me enlighten them that whatever is the result, Boeing isn't going down and President Trump just simply won't ground the Boeing 737 MAX airliner.
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Prominent airline stocks such as American Airlines Group Inc. AAL , Southwest Airlines Co. LUV and United Continental Holdings, Inc. UAL to name a few saw their shares decline more than 2% following the crash news. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. You can see the complete list of today's Zacks #1 Rank stocks here .
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2019-03-13 00:00:00 UTC
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Bull of the Day: Boeing (BA)
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https://www.nasdaq.com/articles/bull-day-boeing-ba-2019-03-13
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Boeing (BA) will be in the news quite a bit this month, and probably next, as it deals with the fallout from another tragic crash involving its new 737 MAX 8 aircraft.
I chose to make BA today's Bull of the Day because, on the merits of the Zacks Rank alone, it deserves it, as EPS estimates have gone up 10% in the past six weeks since their las t earnings report.
But I also chose it because it is a significant space age pioneer now embroiled in tragedies that it will take, deservingly so, a lot of heat and questioning over. So whether you are a BA investor or not, the story of how we got here will interest you as an airline passenger and concerned citizen.
Two Tragic Crashes, Lots More Questions
On March 10, Ethiopian Airlines Flight 302 was a passenger flight from Addis Ababa Bole International Airport in Ethiopia to Jomo Kenyatta International Airport in Nairobi, Kenya. The Boeing 737 MAX 8 aircraft crashed six minutes after takeoff, killing all 157 passengers and crew aboard.
This was the same new aircraft as the crash of Lion Air Flight 610 in Indonesia on October 29, 2018, which killed all 189 passengers when it plunged into the Java Sea 12 minutes after takeoff from Jakarta.
Given this second tragedy for this new version of the 737, governments around the globe began grounding the plane this week and banning it from their airspace. The countries included China, Australia, the UK and eventually Germany and France.
As of this writing on the afternoon of March 12, US carriers like American Airlines (AAL) and Southwest Airlines (LUV) were still operating the MAX 8 as scheduled.
What Do We Know About the Safety of the MAX 8?
While I am not an engineer, I became a private pilot as a teenager and come from a family of commercial pilots so I will attempt to explain, as simply as possible, what we know.
First, when Boeing designed this new 737, it added more powerful and fuel-efficient engines and had to adjust their placement on the wings. This in turn, created changes in flight characteristics.
One of the changes was a tendency for the aircraft to pitch its nose upward more than required during climbing procedures. In aviation dynamics, the relative orientation to level flight is known as the "angle of attack" (AOA) and is extremely important to monitor because too steep an angle, without enough power (speed), will result in a "stall," or loss of lift (the force of air passing under and over wings that keeps birds, planes, and BASE jumpers traveling to their destinations).
In a stall, a plane can fall rapidly, requiring emergency procedures from pilots to regain controlled flight.
So Boeing invented a new automated control system to deal with that tendency of the 737 MAX 8, and not merely reduce the constant workload of pilots but also reduce the risk of the plane approaching an AOA that could lead into a stall.
That system is called MCAS (Maneuvering Characteristics Augmentation System) and is implemented on the 737 MAX to enhance pitch characteristics at elevated angles of attack. The MCAS function commands stabilizer air surfaces, such as the tail elevator and associated trim tabs, to pitch the aircraft nose down and thereby enhance flight characteristics during steep turns with elevated load factors and at airspeeds approaching stall, which are common on takeoff.
MCAS is activated without pilot input and only operates in manual, flaps up flight. The system is designed to allow the flight crew to use manual or switch-based trim controls to override MCAS input. The function is commanded by the Flight Control computer using input data from sensors and other airplane systems.
One of the sensors giving input to the system is an Angle of Attack measurement device which can determine, based on air flow across the wings, how steep the aircraft nose is pitched. Obviously, if those sensors don't work properly, they can give incorrect input to the MCAS and activate it.
For instance, if an AOA sensor incorrectly signals a X-degree upward pitch at an airspeed that is too low, the MCAS will activate and attempt to push the nose of the aircraft down to avoid a stall.
Based on investigation of available data from the October Lion Air Flight 610 crash, including maintenance records and cockpit conversations, a faulty AOA sensor may have been involved that put the plane into a steep dive. Data from the black box indicates that pilots were exerting over 100 lbs of force on the yoke to pull the nose up and physically counteract the MCAS commands.
Initial data about the post-takeoff flight and crash of Ethiopian Airlines Flight 302 on Sunday indicate some potential similarities. While that investigation to discover the causes, and prove or disprove a connection, could take months, government officials, airline personnel, flyers, and investors are all having their say in the public square.
Fortunately, the cockpit voice and flight data recorders were recovered quickly, unlike the Indonesian crash in the ocean. This should provide many answers quickly.
How Much Could This Impact Boeing's Business?
Boeing has also responded quickly this week in releasing an important software enhancement and training manual upgrade. Here's how the company described it in their March 11 press release...
For the past several months and in the aftermath of Lion Air Flight 610, Boeing has been developing a flight control software enhancement for the 737 MAX, designed to make an already safe aircraft even safer. This includes updates to the Maneuvering Characteristics Augmentation System (MCAS) flight control law, pilot displays, operation manuals and crew training. The enhanced flight control law incorporates angle of attack (AOA) inputs, limits stabilizer trim commands in response to an erroneous angle of attack reading, and provides a limit to the stabilizer command in order to retain elevator authority.
The 737 MAX was on course to become Boeing's fast-selling airplane, with over 4,600 on backlog order as of last month. At about $120 million a piece, that would total over $550 billion in sales in less than a decade, according to the expected delivery schedule.
And this explains the rapid rise in BA shares since their Jan 30 earnings report to new all-time highs above $440. The stock was suddenly trading at less than 20X forward EPS due to Wall Street analysts raising their estimates to keep up with this growth.
For the full-year 2019, Boeing is expected to see sales of over $111 billion, representing 10% annual growth. And profits per share are forecast to hit over $20 for a nearly 26% advance from last year.
Those estimates will now come into question as some air carriers consider changing their orders to another plane, or another fleet altogether. But the stock is down 10% in just two days, back to $375. Long-term investors may want to stay the course. And new investors or traders should be on the watch for coming value opportunities.
There is plenty of uncertainty right now for Boeing and its suppliers and partners. While the investigation continues, everyone wants better answers. But those could take time.
Aside from Boeing as an investment, what we all want is more certainty about the safety and testing of new aircraft designs and procedures. Air travel has never been safer, regardless of how you measure it.
One of my favorite measures is the number of accidents per million flights. In the last decade, that ratio slipped under 1.0 and now it sits near 0.3.
And while some will decry too much automation, we wouldn't be here now talking about millions of safe passenger flights without the relentless technology innovation that made them possible.
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To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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As of this writing on the afternoon of March 12, US carriers like American Airlines (AAL) and Southwest Airlines (LUV) were still operating the MAX 8 as scheduled. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. One of the sensors giving input to the system is an Angle of Attack measurement device which can determine, based on air flow across the wings, how steep the aircraft nose is pitched.
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Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. As of this writing on the afternoon of March 12, US carriers like American Airlines (AAL) and Southwest Airlines (LUV) were still operating the MAX 8 as scheduled. This includes updates to the Maneuvering Characteristics Augmentation System (MCAS) flight control law, pilot displays, operation manuals and crew training.
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Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. As of this writing on the afternoon of March 12, US carriers like American Airlines (AAL) and Southwest Airlines (LUV) were still operating the MAX 8 as scheduled. The MCAS function commands stabilizer air surfaces, such as the tail elevator and associated trim tabs, to pitch the aircraft nose down and thereby enhance flight characteristics during steep turns with elevated load factors and at airspeeds approaching stall, which are common on takeoff.
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As of this writing on the afternoon of March 12, US carriers like American Airlines (AAL) and Southwest Airlines (LUV) were still operating the MAX 8 as scheduled. Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report To read this article on Zacks.com click here. I chose to make BA today's Bull of the Day because, on the merits of the Zacks Rank alone, it deserves it, as EPS estimates have gone up 10% in the past six weeks since their las t earnings report.
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6581.0
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2019-03-13 00:00:00 UTC
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Ethiopia black boxes bound for Europe, crash pilot had in-plane issues
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AAL
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https://www.nasdaq.com/articles/ethiopia-black-boxes-bound-europe-crash-pilot-had-plane-issues-2019-03-13
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By David Shepardson
WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years.
The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights.
The new information from the wreckage in Ethiopia and newly refined data about the plane's flight path indicated some similarities between the two disasters "that warrant further investigation of the possibility of a shared cause," the FAA said in a statement.
The acting administrator of the FAA, Daniel Elwell, said he did not know how long the U.S. grounding of the aircraft would last. A software fix for the 737 Max that Boeing has been working on since a fatal crash last October in Indonesia will take months to complete, Elwell told reporters.
The single-aisle 737 is central to Boeing's future in its battle with European rival Airbus SE. The new variant of the 737, the fastest-selling jetliner in Boeing's history, is viewed as the likely workhorse for global airlines for decades.
"The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
It was the second time the FAA has halted flights of a Boeing plane in six years. It grounded the 787 Dreamliner in 2013 because of problems with smoking batteries.
Boeing, which maintained that its planes were safe to fly, said in a statement that it supported the latest FAA move.
"Boeing has determined - out of an abundance of caution and in order to reassure the flying public of the aircraft's safety - to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft."
The crash involving a Boeing 737 MAX in Indonesia killed 189 people. Passengers have been spooked by the two disasters. U.S. travel website Kayak was making changes to let customers exclude specific aircraft types from searches, and booking sites were looking to reroute passengers.
RE-BOOKING PASSENGERS
U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Southwest had 5 MAX-related cancellations on Wednesday and American nearly 40.
Southwest is the world's largest operator of the 737 MAX 8 with 34 jets.
France's air accident investigation agency BEA will analyze black-box cockpit voice and data recorders from the crashed plane, a spokesman said.
The French announcement resolved uncertainty over the fate of the two recorders after Germany's BFU said it had declined a request to handle them because it could not process the new type of recorder used on the 737 MAX jets, in service since 2017.
Shares of the company ended up 0.5 percent at $377.14, recovering from a more than 3 percent fall in the afternoon when the FAA announcement was made.
The United States had held back on suspending 737 MAX flights on Tuesday even as many of the world's top economies such as China and European nations grounded the plane.
Trump called Boeing Chief Executive Dennis Muilenburg on Wednesday to inform him that the United States was preparing to ground the fleet, a White House official said.
"I spoke with a number of airlines. And speaking to the airlines, I think that we all agree that this was right decision to make. It didn't have to be made, but we thought it was the right decision to make," Trump told reporters.
The grounding was welcomed by air workers in the United States. John Samuelsen, international president of the Transport Workers Union of America, which represents aviation workers and flight attendants, said the grounding of the fleet was right "both for air travellers and aviation workers."
NEW SATELLITE DATA
Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October.
U.S.-based aircraft-tracking firm Aireon provided the satellite data to the FAA, Transport Canada and several other authorities, company spokeswoman Jessie Hillenbrand said.
Ethiopian Airlines spokesman Asrat Begashaw said it was still unclear what happened on Sunday, but its pilot had reported control issues as opposed to external factors such as birds.
"The pilot reported flight control problems and requested to turn back. In fact he was allowed to turn back," he said.
Brazil, Mexico and Panama on Wednesday became the first Latin American nations to suspend the Boeing 737 MAX. Earlier, Panama'sCopa Airlines had suspended operations of its six Boeing 737 MAX 9 aircraft until the findings are published of an investigation into Sunday's crash.
The chairman of the U.S. House of Representatives Committee on Transportation and Infrastructure, Democrat Peter DeFazio, called for a probe into why the 737 MAX received certification to fly.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
GRAPHIC-Boeing shares hit after Ethiopia jet crash
GRAPHIC-Boeing 737 MAX aircraft by country
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. The U.S. Federal Aviation Administration (FAA) cited new satellite data and evidence from the scene of Sunday's crash near Addis Ababa for its decision to join Europe, China and other nations in suspending 737 MAX flights. "The agency made this decision as a result of the data gathering process and new evidence collected at the site and analysed today," the FAA said, shortly after U.S. President Donald Trump announced the planes would be grounded.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson WASHINGTON, March 13 () - The United States grounded Boeing Co's money-spinning 737 MAX aircraft on Wednesday over safety fears after an Ethiopian Airlines plane crash that killed 157 people, leaving the world's largest planemaker facing its worst crisis in years. U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes GRAPHIC-Boeing shares hit after Ethiopia jet crash GRAPHIC-Boeing 737 MAX aircraft by country The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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U.S. airlines that operate the 737 MAX, Southwest Airlines Co, American Airlines Group Inc and United Airlines, said they were working to re-book passengers. Canada also grounded 737 MAX jets on Wednesday, saying satellite data suggested similarities to the previous crash involving the same plane model in October. "The pilot reported flight control problems and requested to turn back.
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6582.0
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2019-03-12 00:00:00 UTC
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U.S. will not suspend Boeing 737 MAX planes after Ethiopia crash
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AAL
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https://www.nasdaq.com/articles/us-will-not-suspend-boeing-737-max-planes-after-ethiopia-crash-2019-03-12
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
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In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6583.0
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2019-03-12 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-Tesla, Boeing, Stitch Fix, Southwest Airlines
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-tesla-boeing-stitch-fix-southwest-airlines-2019-03-12
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The Day Ahead newsletter:
The Morning News Call newsletter:
U.S. stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow.
The top three S&P 500 percentage gainers:
** Chipotle Mexican Grill Inc, up 2.7 pct
** Newmont Mining Corp, up 2.7 pct
** CarMax Inc, up 2.6 pct
The top three S&P 500 percentage losers:
** F5 Networks Inc, down 7.7 pct
** Boeing Co, down 7.2 pct
** Hewlett Packard Enterprise Co, down 3.4 pct
The top three NYSE percentage gainers:
** Key Energy Services Inc, up 20.3 pct
** Chaparral Energy Inc, up 13.1 pct
** Navios Maritime Holdings Inc, up 12.5 pct
The top three NYSE percentage losers:
** Valhi Inc, down 25.5 pct
** ADT Inc, down 12.6 pct
** Dick's Sporting Goods Inc, down 11.8 pct
The top three Nasdaq percentage gainers:
** ENDRA Life Sciences Inc, up 32.5 pct
** Stitch Fix Inc, up 27.9 pct
** Jounce Therapeutics Inc, up 23 pct
The top three Nasdaq percentage losers:
** Zafgen Inc, down 35.4 pct
** Castor Maritime Inc, down 29.2 pct
** Globus Maritime Ltd, down 18.1 pct
** Boeing Co : down 7.2 pct
Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings
Global Boeing fears grow, families await Ethiopia crash remains
** Coca-Cola Co: down 0.4 pct
Slips as HSBC cuts to "hold"
** Tesla Inc: down 2.7 pct
Top-rated MS analyst cuts Model 3 target on demand fears
** Stitch Fix Inc: up 27.9 pct
Post-results surge has shorts sewing wounds
** ADT Inc:down 12.6 pct
Positioning for the new normal, slumps on weak 2019 outlook
** Zafgen Inc: down 35.4 pct
Slumps after halting plans for experimental drug
** Regeneron Pharmaceuticals Inc: up 0.8 pct
Up as FDA approves eczema drug for teens
** Avid Bioservices Inc: up 10.7 pct
Rises after Q3 revenue beats expectations
** Domino's Pizza: down 0.8 pct
Positive commentary boosts shares
** Eli Lilly and Co: down 0.4 pct
JPM resumes coverage, adds to focus list
** Akebia Therapeutics Inc: up 10.1 pct
Jumps as lead drug meets main goal in two late-stage studies
** Charles River Laboratories International Inc: up 0.5 pct
Turns corner on pricing, demand remains robust
** Momo Inc: up 11.7 pct
Rises on beat Q4 revenue, profit
** F5 Networks Inc: down 7.7 pct
JPM calls NGINX buy "expensive"; cuts to "neutral"
** Dick's Sporting Goods Inc: down 11.8 pct
Slumps on worse-than-expected same-store sales
** American Electric Power Co Inc: up 0.9 pct
JPM raises to "overweight"
** Lipocine Inc: up 0.5 pct
Jumps as experimental liver drug shows promise
** Roku Inc: down 2.8 pct
Shares pause on planned $100 mln equity raise
** Hewlett Packard Enterprise Co: down 3.3 pct
'As cloud grows, on-premises slows' - UBS downgrades
** Coupa Software Inc: down 4.5 pct
Set for best day in a month on Q4 results
** Monster Beverage Corp: down 2.4 pct
Slips as BMO moves to sidelines on valuation concerns
** Altice USA Inc: down 2.6 pct
Drops on 13.5 mln share block trade
** Stealth Biotherapeutics: up 1.2 pct
Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies
** NuVasive Inc: down 7.2 pct
Tumbling as Smith & Nephew strikes Osiris deal
** Advaxis Inc: up 8.8 pct
Posts first profit in 19 qtrs, shares up
** Ocean Power Technologies Inc: up 8.9 pct
Surges on deal with offshore operator
** TheStreet Inc: down 2.2 pct
Falls on wider-than-expected fourth-quarter loss
** MDC Partners Inc: down 13.9 pct
Set for worst day in 10 months as BMO cuts to "market perform"
** Mistras Group Inc: down 9.5 pct
Mistras shares tumble after quarterly results, outlook
** Luxfer Holdings Plc: down 2.1 pct
Falls as fewer hurricanes dampen sales, outlook
** International Seaways Inc: up 8.4 pct
Jumps after earnings beat
** Intrepid Potash Inc: up 4.4 pct
Up on Q4 results beat
** F5 Networks Inc: down 7.7 pct
Falls on deal to buy NGINX
** Southwest Airlines Co: down 2.3 pct
** American Airlines Group Inc: down 2.1 pct
** United Continental Holdings Inc: down 2.4 pct
Southwest Air, American, United drop amid Boeing fallout
** VivoPower International Plc: up 48.0 pct
Soars as co nears deal to sell U.S. assets
** Liquidia Technologies Inc: down 0.1 pct
Wedbush sees multiple catalysts in next 12 months
The 11 major S&P 500 sectors:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow. The top three S&P 500 percentage gainers: ** Chipotle Mexican Grill Inc, up 2.7 pct ** Newmont Mining Corp, up 2.7 pct ** CarMax Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.7 pct ** Boeing Co, down 7.2 pct ** Hewlett Packard Enterprise Co, down 3.4 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 20.3 pct ** Chaparral Energy Inc, up 13.1 pct ** Navios Maritime Holdings Inc, up 12.5 pct The top three NYSE percentage losers: ** Valhi Inc, down 25.5 pct ** ADT Inc, down 12.6 pct ** Dick's Sporting Goods Inc, down 11.8 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 32.5 pct ** Stitch Fix Inc, up 27.9 pct ** Jounce Therapeutics Inc, up 23 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 35.4 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 18.1 pct ** Boeing Co : down 7.2 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.7 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 27.9 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.6 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 35.4 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 0.8 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 10.7 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 0.8 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.4 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 10.1 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.5 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 11.7 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.7 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 11.8 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.9 pct JPM raises to "overweight" ** Lipocine Inc: up 0.5 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.8 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.3 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 4.5 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 2.6 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: up 1.2 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 7.2 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 8.8 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 8.9 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 13.9 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 9.5 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.1 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 8.4 pct Jumps after earnings beat ** Intrepid Potash Inc: up 4.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.7 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.1 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 48.0 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: down 0.1 pct Wedbush sees multiple catalysts in next 12 months The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow. The top three S&P 500 percentage gainers: ** Chipotle Mexican Grill Inc, up 2.7 pct ** Newmont Mining Corp, up 2.7 pct ** CarMax Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.7 pct ** Boeing Co, down 7.2 pct ** Hewlett Packard Enterprise Co, down 3.4 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 20.3 pct ** Chaparral Energy Inc, up 13.1 pct ** Navios Maritime Holdings Inc, up 12.5 pct The top three NYSE percentage losers: ** Valhi Inc, down 25.5 pct ** ADT Inc, down 12.6 pct ** Dick's Sporting Goods Inc, down 11.8 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 32.5 pct ** Stitch Fix Inc, up 27.9 pct ** Jounce Therapeutics Inc, up 23 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 35.4 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 18.1 pct ** Boeing Co : down 7.2 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.7 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 27.9 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.6 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 35.4 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 0.8 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 10.7 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 0.8 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.4 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 10.1 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.5 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 11.7 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.7 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 11.8 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.9 pct JPM raises to "overweight" ** Lipocine Inc: up 0.5 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.8 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.3 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 4.5 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 2.6 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: up 1.2 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 7.2 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 8.8 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 8.9 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 13.9 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 9.5 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.1 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 8.4 pct Jumps after earnings beat ** Intrepid Potash Inc: up 4.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.7 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.1 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 48.0 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: down 0.1 pct Wedbush sees multiple catalysts in next 12 months The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow. The top three S&P 500 percentage gainers: ** Chipotle Mexican Grill Inc, up 2.7 pct ** Newmont Mining Corp, up 2.7 pct ** CarMax Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.7 pct ** Boeing Co, down 7.2 pct ** Hewlett Packard Enterprise Co, down 3.4 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 20.3 pct ** Chaparral Energy Inc, up 13.1 pct ** Navios Maritime Holdings Inc, up 12.5 pct The top three NYSE percentage losers: ** Valhi Inc, down 25.5 pct ** ADT Inc, down 12.6 pct ** Dick's Sporting Goods Inc, down 11.8 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 32.5 pct ** Stitch Fix Inc, up 27.9 pct ** Jounce Therapeutics Inc, up 23 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 35.4 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 18.1 pct ** Boeing Co : down 7.2 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.7 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 27.9 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.6 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 35.4 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 0.8 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 10.7 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 0.8 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.4 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 10.1 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.5 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 11.7 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.7 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 11.8 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.9 pct JPM raises to "overweight" ** Lipocine Inc: up 0.5 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.8 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.3 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 4.5 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 2.6 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: up 1.2 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 7.2 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 8.8 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 8.9 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 13.9 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 9.5 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.1 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 8.4 pct Jumps after earnings beat ** Intrepid Potash Inc: up 4.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.7 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.1 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 48.0 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: down 0.1 pct Wedbush sees multiple catalysts in next 12 months The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday as benign February inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight session pressured the Dow. The top three S&P 500 percentage gainers: ** Chipotle Mexican Grill Inc, up 2.7 pct ** Newmont Mining Corp, up 2.7 pct ** CarMax Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.7 pct ** Boeing Co, down 7.2 pct ** Hewlett Packard Enterprise Co, down 3.4 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 20.3 pct ** Chaparral Energy Inc, up 13.1 pct ** Navios Maritime Holdings Inc, up 12.5 pct The top three NYSE percentage losers: ** Valhi Inc, down 25.5 pct ** ADT Inc, down 12.6 pct ** Dick's Sporting Goods Inc, down 11.8 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 32.5 pct ** Stitch Fix Inc, up 27.9 pct ** Jounce Therapeutics Inc, up 23 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 35.4 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 18.1 pct ** Boeing Co : down 7.2 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.7 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 27.9 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.6 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 35.4 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 0.8 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 10.7 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 0.8 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.4 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 10.1 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.5 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 11.7 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.7 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 11.8 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.9 pct JPM raises to "overweight" ** Lipocine Inc: up 0.5 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.8 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.3 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 4.5 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 2.6 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: up 1.2 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 7.2 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 8.8 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 8.9 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 13.9 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 9.5 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.1 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 8.4 pct Jumps after earnings beat ** Intrepid Potash Inc: up 4.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.7 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.1 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 48.0 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: down 0.1 pct Wedbush sees multiple catalysts in next 12 months The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6584.0
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2019-03-12 00:00:00 UTC
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Nasdaq 100 Movers: UAL, GOOGL
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AAL
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https://www.nasdaq.com/articles/nasdaq-100-movers-ual-googl-2019-03-12
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In early trading on Tuesday, shares of Alphabet topped the list of the day's best performing components of the Nasdaq 100 index, trading up 1.4%. Year to date, Alphabet registers a 14.5% gain.
And the worst performing Nasdaq 100 component thus far on the day is United Continental Holdings, trading down 2.6%. United Continental Holdings is lower by about 4.2% looking at the year to date performance.
One other components making moves today are American Airlines Group, trading down 2.2%.
VIDEO: Nasdaq 100 Movers: UAL, GOOGL
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And the worst performing Nasdaq 100 component thus far on the day is United Continental Holdings, trading down 2.6%. United Continental Holdings is lower by about 4.2% looking at the year to date performance. One other components making moves today are American Airlines Group, trading down 2.2%.
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And the worst performing Nasdaq 100 component thus far on the day is United Continental Holdings, trading down 2.6%. VIDEO: Nasdaq 100 Movers: UAL, GOOGL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In early trading on Tuesday, shares of Alphabet topped the list of the day's best performing components of the Nasdaq 100 index, trading up 1.4%. And the worst performing Nasdaq 100 component thus far on the day is United Continental Holdings, trading down 2.6%. VIDEO: Nasdaq 100 Movers: UAL, GOOGL The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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And the worst performing Nasdaq 100 component thus far on the day is United Continental Holdings, trading down 2.6%. United Continental Holdings is lower by about 4.2% looking at the year to date performance. One other components making moves today are American Airlines Group, trading down 2.2%.
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6585.0
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2019-03-12 00:00:00 UTC
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UK CAA suspends Boeing 737 MAX from airspace after crash
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AAL
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https://www.nasdaq.com/articles/uk-caa-suspends-boeing-737-max-airspace-after-crash-2019-03-12
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nan
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nan
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LONDON, March 12 () - Britain on Tuesday joined a growing number of nations to suspend flights by Boeing 737 MAX aircraft over their territory, after an Ethiopia Airlines plane of that model crashed on Sunday killing 157 people.
"The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace," a spokesperson said in a about Boeing 737 MAX aircraft
"The UK Civil Aviation Authority's safety directive will be in place until further notice."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LONDON, March 12 () - Britain on Tuesday joined a growing number of nations to suspend flights by Boeing 737 MAX aircraft over their territory, after an Ethiopia Airlines plane of that model crashed on Sunday killing 157 people. "The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace," a spokesperson said in a about Boeing 737 MAX aircraft "The UK Civil Aviation Authority's safety directive will be in place until further notice." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LONDON, March 12 () - Britain on Tuesday joined a growing number of nations to suspend flights by Boeing 737 MAX aircraft over their territory, after an Ethiopia Airlines plane of that model crashed on Sunday killing 157 people. "The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace," a spokesperson said in a about Boeing 737 MAX aircraft "The UK Civil Aviation Authority's safety directive will be in place until further notice." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LONDON, March 12 () - Britain on Tuesday joined a growing number of nations to suspend flights by Boeing 737 MAX aircraft over their territory, after an Ethiopia Airlines plane of that model crashed on Sunday killing 157 people. "The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace," a spokesperson said in a about Boeing 737 MAX aircraft "The UK Civil Aviation Authority's safety directive will be in place until further notice." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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LONDON, March 12 () - Britain on Tuesday joined a growing number of nations to suspend flights by Boeing 737 MAX aircraft over their territory, after an Ethiopia Airlines plane of that model crashed on Sunday killing 157 people. "The UK Civil Aviation Authority has been closely monitoring the situation, however, as we do not currently have sufficient information from the flight data recorder we have, as a precautionary measure, issued instructions to stop any commercial passenger flights from any operator arriving, departing or overflying UK airspace," a spokesperson said in a about Boeing 737 MAX aircraft "The UK Civil Aviation Authority's safety directive will be in place until further notice." The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6586.0
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2019-03-12 00:00:00 UTC
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U.S. will not ground Boeing 737 MAX planes after Ethiopia crash
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AAL
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https://www.nasdaq.com/articles/us-will-not-ground-boeing-737-max-planes-after-ethiopia-crash-2019-03-12
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
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In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6587.0
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2019-03-12 00:00:00 UTC
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Britain joins Boeing suspensions, investigators probe Ethiopia crash
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AAL
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https://www.nasdaq.com/articles/britain-joins-boeing-suspensions-investigators-probe-ethiopia-crash-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
(
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
|
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6588.0
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2019-03-12 00:00:00 UTC
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EU suspends Boeing 737 MAX flights, U.S. senators suggest similar move
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AAL
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https://www.nasdaq.com/articles/eu-suspends-boeing-737-max-flights-us-senators-suggest-similar-move-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
(
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
|
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6589.0
|
2019-03-12 00:00:00 UTC
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Global Boeing fears grow, families await Ethiopia crash remains
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AAL
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https://www.nasdaq.com/articles/global-boeing-fears-grow-families-await-ethiopia-crash-remains-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
(
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
|
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6590.0
|
2019-03-12 00:00:00 UTC
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Ethiopia crash brings wave of Boeing suspensions, Trump anxious
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AAL
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https://www.nasdaq.com/articles/ethiopia-crash-brings-wave-boeing-suspensions-trump-anxious-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
(
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
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In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6591.0
|
2019-03-12 00:00:00 UTC
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Europeans join wave of Boeing suspensions, Trump frets
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AAL
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https://www.nasdaq.com/articles/europeans-join-wave-boeing-suspensions-trump-frets-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
(
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
|
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6592.0
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2019-03-12 00:00:00 UTC
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Market Close Report: NASDAQ Composite index closes at 7,591.03 up 32.97 points
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AAL
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https://www.nasdaq.com/articles/market-close-report-nasdaq-composite-index-closes-759103-3297-points-2019-03-12
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Tuesday's session closes with the NASDAQ Composite Index at 7,591.03. The total shares traded for the NASDAQ was over 2.15 billion.
Advancers stocks led declining by 1.09 to 1 ratio. There were 1629 advancers and 1490 decliners for the day. On the NASDAQ Stock Exchange 46 stocks reached a 52 week high and 14 those reaching lows totaled. The most active, advancers, decliners, unusual volume and most active by dollar volume can be monitored intraday on the Most Active Stocks page.
The NASDAQ 100 index closed up .52% for the day; a total of 37.26 points. The current value is 7,201.28. American Airlines Group, Inc. ( AAL ) had the largest percent change down (-3.53%) while Align Technology, Inc. ( ALGN ) had the largest percent change gain rising 3.07%.
The Dow Jones index closed down -.38% for the day; a total of -96.22 points. The current value is 25,554.66. Boeing Company (The) ( BA ) had the largest percent change down (-6.15%) while Apple Inc. ( AAPL ) had the largest percent change gain rising 1.12%.
NASDAQ Market Wrap
As of 3/12/2019 4:43:59 PM
BILLIONS OF 2.15 NASDAQ SHARES TRADED TODAY 46 STOCKS REACHED A 52 WEEK HIGH 14 THOSE REACHING LOWS TOTALEDAlign Technology, Inc. [ALGN]TOPS ADVANCERS LISTOF NASDAQ 100 INDEX % 3.07 ROSE
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. ( AAL ) had the largest percent change down (-3.53%) while Align Technology, Inc. ( ALGN ) had the largest percent change gain rising 3.07%. The Dow Jones index closed down -.38% for the day; a total of -96.22 points. NASDAQ Market Wrap As of 3/12/2019 4:43:59 PM BILLIONS OF 2.15 NASDAQ SHARES TRADED TODAY 46 STOCKS REACHED A 52 WEEK HIGH 14 THOSE REACHING LOWS TOTALEDAlign Technology, Inc. [ALGN]TOPS ADVANCERS LISTOF NASDAQ 100 INDEX % 3.07 ROSE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. ( AAL ) had the largest percent change down (-3.53%) while Align Technology, Inc. ( ALGN ) had the largest percent change gain rising 3.07%. On the NASDAQ Stock Exchange 46 stocks reached a 52 week high and 14 those reaching lows totaled. NASDAQ Market Wrap As of 3/12/2019 4:43:59 PM BILLIONS OF 2.15 NASDAQ SHARES TRADED TODAY 46 STOCKS REACHED A 52 WEEK HIGH 14 THOSE REACHING LOWS TOTALEDAlign Technology, Inc. [ALGN]TOPS ADVANCERS LISTOF NASDAQ 100 INDEX % 3.07 ROSE The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Airlines Group, Inc. ( AAL ) had the largest percent change down (-3.53%) while Align Technology, Inc. ( ALGN ) had the largest percent change gain rising 3.07%. On the NASDAQ Stock Exchange 46 stocks reached a 52 week high and 14 those reaching lows totaled. The most active, advancers, decliners, unusual volume and most active by dollar volume can be monitored intraday on the Most Active Stocks page.
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American Airlines Group, Inc. ( AAL ) had the largest percent change down (-3.53%) while Align Technology, Inc. ( ALGN ) had the largest percent change gain rising 3.07%. There were 1629 advancers and 1490 decliners for the day. The NASDAQ 100 index closed up .52% for the day; a total of 37.26 points.
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6593.0
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2019-03-12 00:00:00 UTC
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Notable Tuesday Option Activity: AVGO, FFIV, AAL
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AAL
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https://www.nasdaq.com/articles/notable-tuesday-option-activity-avgo-ffiv-aal-2019-03-12
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nan
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nan
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Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Broadcom Inc (Symbol: AVGO), where a total volume of 10,966 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 52.2% of AVGO's average daily trading volume over the past month, of 2.1 million shares. Especially high volume was seen for the $267.50 strike put option expiring March 15, 2019 , with 1,313 contracts trading so far today, representing approximately 131,300 underlying shares of AVGO. Below is a chart showing AVGO's trailing twelve month trading history, with the $267.50 strike highlighted in orange:
F5 Networks, Inc. (Symbol: FFIV) saw options trading volume of 2,814 contracts, representing approximately 281,400 underlying shares or approximately 50.2% of FFIV's average daily trading volume over the past month, of 560,640 shares. Particularly high volume was seen for the $160 strike call option expiring April 18, 2019 , with 649 contracts trading so far today, representing approximately 64,900 underlying shares of FFIV. Below is a chart showing FFIV's trailing twelve month trading history, with the $160 strike highlighted in orange:
And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 30,739 contracts, representing approximately 3.1 million underlying shares or approximately 43.3% of AAL's average daily trading volume over the past month, of 7.1 million shares. Particularly high volume was seen for the $29 strike put option expiring May 17, 2019 , with 3,600 contracts trading so far today, representing approximately 360,000 underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $29 strike highlighted in orange:
For the various different available expirations for AVGO options , FFIV options , or AAL options , visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $29 strike put option expiring May 17, 2019 , with 3,600 contracts trading so far today, representing approximately 360,000 underlying shares of AAL. Below is a chart showing FFIV's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 30,739 contracts, representing approximately 3.1 million underlying shares or approximately 43.3% of AAL's average daily trading volume over the past month, of 7.1 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $29 strike highlighted in orange: For the various different available expirations for AVGO options , FFIV options , or AAL options , visit StockOptionsChannel.com.
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Below is a chart showing FFIV's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 30,739 contracts, representing approximately 3.1 million underlying shares or approximately 43.3% of AAL's average daily trading volume over the past month, of 7.1 million shares. Particularly high volume was seen for the $29 strike put option expiring May 17, 2019 , with 3,600 contracts trading so far today, representing approximately 360,000 underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $29 strike highlighted in orange: For the various different available expirations for AVGO options , FFIV options , or AAL options , visit StockOptionsChannel.com.
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Below is a chart showing FFIV's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 30,739 contracts, representing approximately 3.1 million underlying shares or approximately 43.3% of AAL's average daily trading volume over the past month, of 7.1 million shares. Particularly high volume was seen for the $29 strike put option expiring May 17, 2019 , with 3,600 contracts trading so far today, representing approximately 360,000 underlying shares of AAL. Below is a chart showing AAL's trailing twelve month trading history, with the $29 strike highlighted in orange: For the various different available expirations for AVGO options , FFIV options , or AAL options , visit StockOptionsChannel.com.
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Particularly high volume was seen for the $29 strike put option expiring May 17, 2019 , with 3,600 contracts trading so far today, representing approximately 360,000 underlying shares of AAL. Below is a chart showing FFIV's trailing twelve month trading history, with the $160 strike highlighted in orange: And American Airlines Group Inc (Symbol: AAL) saw options trading volume of 30,739 contracts, representing approximately 3.1 million underlying shares or approximately 43.3% of AAL's average daily trading volume over the past month, of 7.1 million shares. Below is a chart showing AAL's trailing twelve month trading history, with the $29 strike highlighted in orange: For the various different available expirations for AVGO options , FFIV options , or AAL options , visit StockOptionsChannel.com.
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6594.0
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2019-03-12 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-Alphabet, Tesla, Boeing, Stitch Fix, Coca-Cola, Tobacco stocks
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-alphabet-tesla-boeing-stitch-fix-coca-cola-tobacco-stocks-2019-03-12
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nan
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nan
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The Day Ahead newsletter:
The Morning News Call newsletter:
U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow.
The top three S&P 500 percentage gainers:
** CarMax Inc, up 3.2 pct
** Whirlpool Corp, up 2.6 pct
** Align Technology Inc, up 2.6 pct
The top three S&P 500 percentage losers:
** F5 Networks Inc, down 7.2 pct
** Boeing Co, down 6.6 pct
** Hewlett Packard Enterprise Co, down 3 pct
The top three NYSE percentage gainers:
** Key Energy Services Inc, up 28.2 pct
** Chaparral Energy Inc, up 23.3 pct
** Capital Senior Living Corp, up 12.3 pct
The top three NYSE percentage losers:
** Valhi Inc, down 27.1 pct
** VirnetX Holding Corp, down 14.3 pct
** ADT Inc, down 12.1 pct
The top three Nasdaq percentage gainers:
** ENDRA Life Sciences Inc, up 38.9 pct
** Stitch Fix Inc, up 29.2 pct
** Leap Therapeutics Inc, up 28.6 pct
The top three Nasdaq percentage losers:
** Zafgen Inc, down 34.8 pct
** Castor Maritime Inc, down 29.2 pct
** Globus Maritime Ltd, down 20.6 pct
** Boeing Co : down 6.6 pct
Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings
Global Boeing fears grow, families await Ethiopia crash remains
** Coca-Cola Co: down 0.4 pct
Slips as HSBC cuts to "hold"
** Tesla Inc: down 2.5 pct
Top-rated MS analyst cuts Model 3 target on demand fears
** Stitch Fix Inc: up 29.2 pct
Post-results surge has shorts sewing wounds
** ADT Inc:down 12.1 pct
Positioning for the new normal, slumps on weak 2019 outlook
** Zafgen Inc: down 34.8 pct
Slumps after halting plans for experimental drug
** Regeneron Pharmaceuticals Inc: up 2.2 pct
Up as FDA approves eczema drug for teens
** Avid Bioservices Inc: up 9.2 pct
Rises after Q3 revenue beats expectations
** Domino's Pizza: down 1.6 pct
Positive commentary boosts shares
** Eli Lilly and Co: down 0.1 pct
JPM resumes coverage, adds to focus list
** Akebia Therapeutics Inc: up 6.5 pct
Jumps as lead drug meets main goal in two late-stage studies
** Charles River Laboratories International Inc: up 0.3 pct
Turns corner on pricing, demand remains robust
** Momo Inc: up 12.0 pct
Rises on beat Q4 revenue, profit
** F5 Networks Inc: down 7.2 pct
JPM calls NGINX buy "expensive"; cuts to "neutral"
** Dick's Sporting Goods Inc: down 10.0 pct
Slumps on worse-than-expected same-store sales
** American Electric Power Co Inc: up 0.7 pct
JPM raises to "overweight"
** Lipocine Inc: up 3.7 pct
Jumps as experimental liver drug shows promise
** Roku Inc: down 2.3 pct
Shares pause on planned $100 mln equity raise
** Hewlett Packard Enterprise Co: down 3.0 pct
'As cloud grows, on-premises slows' - UBS downgrades
** Coupa Software Inc: down 2.8 pct
Set for best day in a month on Q4 results
** Monster Beverage Corp: down 2.4 pct
Slips as BMO moves to sidelines on valuation concerns
** Altice USA Inc: down 3.2 pct
Drops on 13.5 mln share block trade
** Stealth Biotherapeutics: down 4.3 pct
Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies
** NuVasive Inc: down 6.3 pct
Tumbling as Smith & Nephew strikes Osiris deal
** Advaxis Inc: up 12.3 pct
Posts first profit in 19 qtrs, shares up
** Ocean Power Technologies Inc: up 15.7 pct
Surges on deal with offshore operator
** TheStreet Inc: down 2.2 pct
Falls on wider-than-expected fourth-quarter loss
** MDC Partners Inc: down 15.0 pct
Set for worst day in 10 months as BMO cuts to "market perform"
** Mistras Group Inc: down 10.9 pct
Mistras shares tumble after quarterly results, outlook
** Luxfer Holdings Plc: down 2.7 pct
Falls as fewer hurricanes dampen sales, outlook
** International Seaways Inc: up 9.2 pct
Jumps after earnings beat
** Intrepid Potash Inc: up 3.4 pct
Up on Q4 results beat
** F5 Networks Inc: down 7.2 pct
Falls on deal to buy NGINX
** Southwest Airlines Co: down 2.3 pct
** American Airlines Group Inc: down 2.0 pct
** United Continental Holdings Inc: down 2.4 pct
Southwest Air, American, United drop amid Boeing fallout
** VivoPower International Plc: up 56.2 pct
Soars as co nears deal to sell U.S. assets
** Liquidia Technologies Inc: up 0.2 pct
Wedbush sees multiple catalysts in next 12 months
** Frontier Communications Corp: up 4.2 pct
Snaps 6-day losing streak on $1.65 bln refinancing
** SpartanNash Co: down 6.1 pct
** United Natural Foods Inc: down 9.4 pct
SpartanNash, United Natural Foods sink on unappetizing Barclays outlook
** Care.com Inc: down 2.6 pct
Shares fall again after announcing changes
** Dick's Sporting Goods Inc: down 10.0 pct
Dick's Sporting move to drop Reebok hits Nike, Under Armour, other athleisure
** Goldcorp Inc: up 2.0 pct
Jefferies expects labor dispute at Argentina mine to resolve quickly
** Hercules Capital Inc: down 7.8 pct
Shares fall as CEO tied to college fraud scheme
** Akorn Inc: up 10.4 pct
Higher on reported interest by Baxter International
** Alphabet Inc: up 2.0 pct
Bursts above $1,200 for first time since October
** Altria Group Inc: down 0.7 pct
** Philip Morris International Inc: down 0.6 pct
Tobacco stocks slip after new acting U.S. FDA chief named
The 11 major S&P 500 sectors:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow. The top three S&P 500 percentage gainers: ** CarMax Inc, up 3.2 pct ** Whirlpool Corp, up 2.6 pct ** Align Technology Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.2 pct ** Boeing Co, down 6.6 pct ** Hewlett Packard Enterprise Co, down 3 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 28.2 pct ** Chaparral Energy Inc, up 23.3 pct ** Capital Senior Living Corp, up 12.3 pct The top three NYSE percentage losers: ** Valhi Inc, down 27.1 pct ** VirnetX Holding Corp, down 14.3 pct ** ADT Inc, down 12.1 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 38.9 pct ** Stitch Fix Inc, up 29.2 pct ** Leap Therapeutics Inc, up 28.6 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 34.8 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 20.6 pct ** Boeing Co : down 6.6 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.5 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 29.2 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.1 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 34.8 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 2.2 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 9.2 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 1.6 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.1 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 6.5 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.3 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 12.0 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.2 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 10.0 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.7 pct JPM raises to "overweight" ** Lipocine Inc: up 3.7 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.3 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.0 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 2.8 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 3.2 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: down 4.3 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 6.3 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 12.3 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 15.7 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 15.0 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 10.9 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.7 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 9.2 pct Jumps after earnings beat ** Intrepid Potash Inc: up 3.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.2 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.0 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 56.2 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: up 0.2 pct Wedbush sees multiple catalysts in next 12 months ** Frontier Communications Corp: up 4.2 pct Snaps 6-day losing streak on $1.65 bln refinancing ** SpartanNash Co: down 6.1 pct ** United Natural Foods Inc: down 9.4 pct SpartanNash, United Natural Foods sink on unappetizing Barclays outlook ** Care.com Inc: down 2.6 pct Shares fall again after announcing changes ** Dick's Sporting Goods Inc: down 10.0 pct Dick's Sporting move to drop Reebok hits Nike, Under Armour, other athleisure ** Goldcorp Inc: up 2.0 pct Jefferies expects labor dispute at Argentina mine to resolve quickly ** Hercules Capital Inc: down 7.8 pct Shares fall as CEO tied to college fraud scheme ** Akorn Inc: up 10.4 pct Higher on reported interest by Baxter International ** Alphabet Inc: up 2.0 pct Bursts above $1,200 for first time since October ** Altria Group Inc: down 0.7 pct ** Philip Morris International Inc: down 0.6 pct Tobacco stocks slip after new acting U.S. FDA chief named The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow. The top three S&P 500 percentage gainers: ** CarMax Inc, up 3.2 pct ** Whirlpool Corp, up 2.6 pct ** Align Technology Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.2 pct ** Boeing Co, down 6.6 pct ** Hewlett Packard Enterprise Co, down 3 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 28.2 pct ** Chaparral Energy Inc, up 23.3 pct ** Capital Senior Living Corp, up 12.3 pct The top three NYSE percentage losers: ** Valhi Inc, down 27.1 pct ** VirnetX Holding Corp, down 14.3 pct ** ADT Inc, down 12.1 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 38.9 pct ** Stitch Fix Inc, up 29.2 pct ** Leap Therapeutics Inc, up 28.6 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 34.8 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 20.6 pct ** Boeing Co : down 6.6 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.5 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 29.2 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.1 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 34.8 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 2.2 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 9.2 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 1.6 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.1 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 6.5 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.3 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 12.0 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.2 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 10.0 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.7 pct JPM raises to "overweight" ** Lipocine Inc: up 3.7 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.3 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.0 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 2.8 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 3.2 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: down 4.3 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 6.3 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 12.3 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 15.7 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 15.0 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 10.9 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.7 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 9.2 pct Jumps after earnings beat ** Intrepid Potash Inc: up 3.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.2 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.0 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 56.2 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: up 0.2 pct Wedbush sees multiple catalysts in next 12 months ** Frontier Communications Corp: up 4.2 pct Snaps 6-day losing streak on $1.65 bln refinancing ** SpartanNash Co: down 6.1 pct ** United Natural Foods Inc: down 9.4 pct SpartanNash, United Natural Foods sink on unappetizing Barclays outlook ** Care.com Inc: down 2.6 pct Shares fall again after announcing changes ** Dick's Sporting Goods Inc: down 10.0 pct Dick's Sporting move to drop Reebok hits Nike, Under Armour, other athleisure ** Goldcorp Inc: up 2.0 pct Jefferies expects labor dispute at Argentina mine to resolve quickly ** Hercules Capital Inc: down 7.8 pct Shares fall as CEO tied to college fraud scheme ** Akorn Inc: up 10.4 pct Higher on reported interest by Baxter International ** Alphabet Inc: up 2.0 pct Bursts above $1,200 for first time since October ** Altria Group Inc: down 0.7 pct ** Philip Morris International Inc: down 0.6 pct Tobacco stocks slip after new acting U.S. FDA chief named The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow. The top three S&P 500 percentage gainers: ** CarMax Inc, up 3.2 pct ** Whirlpool Corp, up 2.6 pct ** Align Technology Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.2 pct ** Boeing Co, down 6.6 pct ** Hewlett Packard Enterprise Co, down 3 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 28.2 pct ** Chaparral Energy Inc, up 23.3 pct ** Capital Senior Living Corp, up 12.3 pct The top three NYSE percentage losers: ** Valhi Inc, down 27.1 pct ** VirnetX Holding Corp, down 14.3 pct ** ADT Inc, down 12.1 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 38.9 pct ** Stitch Fix Inc, up 29.2 pct ** Leap Therapeutics Inc, up 28.6 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 34.8 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 20.6 pct ** Boeing Co : down 6.6 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.5 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 29.2 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.1 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 34.8 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 2.2 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 9.2 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 1.6 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.1 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 6.5 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.3 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 12.0 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.2 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 10.0 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.7 pct JPM raises to "overweight" ** Lipocine Inc: up 3.7 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.3 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.0 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 2.8 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 3.2 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: down 4.3 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 6.3 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 12.3 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 15.7 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 15.0 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 10.9 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.7 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 9.2 pct Jumps after earnings beat ** Intrepid Potash Inc: up 3.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.2 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.0 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 56.2 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: up 0.2 pct Wedbush sees multiple catalysts in next 12 months ** Frontier Communications Corp: up 4.2 pct Snaps 6-day losing streak on $1.65 bln refinancing ** SpartanNash Co: down 6.1 pct ** United Natural Foods Inc: down 9.4 pct SpartanNash, United Natural Foods sink on unappetizing Barclays outlook ** Care.com Inc: down 2.6 pct Shares fall again after announcing changes ** Dick's Sporting Goods Inc: down 10.0 pct Dick's Sporting move to drop Reebok hits Nike, Under Armour, other athleisure ** Goldcorp Inc: up 2.0 pct Jefferies expects labor dispute at Argentina mine to resolve quickly ** Hercules Capital Inc: down 7.8 pct Shares fall as CEO tied to college fraud scheme ** Akorn Inc: up 10.4 pct Higher on reported interest by Baxter International ** Alphabet Inc: up 2.0 pct Bursts above $1,200 for first time since October ** Altria Group Inc: down 0.7 pct ** Philip Morris International Inc: down 0.6 pct Tobacco stocks slip after new acting U.S. FDA chief named The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose on Tuesday after tame inflation data supported the Federal Reserve's dovish stance on future rate hikes, but Boeing's fall for a second straight day in a row pressured the Dow. The top three S&P 500 percentage gainers: ** CarMax Inc, up 3.2 pct ** Whirlpool Corp, up 2.6 pct ** Align Technology Inc, up 2.6 pct The top three S&P 500 percentage losers: ** F5 Networks Inc, down 7.2 pct ** Boeing Co, down 6.6 pct ** Hewlett Packard Enterprise Co, down 3 pct The top three NYSE percentage gainers: ** Key Energy Services Inc, up 28.2 pct ** Chaparral Energy Inc, up 23.3 pct ** Capital Senior Living Corp, up 12.3 pct The top three NYSE percentage losers: ** Valhi Inc, down 27.1 pct ** VirnetX Holding Corp, down 14.3 pct ** ADT Inc, down 12.1 pct The top three Nasdaq percentage gainers: ** ENDRA Life Sciences Inc, up 38.9 pct ** Stitch Fix Inc, up 29.2 pct ** Leap Therapeutics Inc, up 28.6 pct The top three Nasdaq percentage losers: ** Zafgen Inc, down 34.8 pct ** Castor Maritime Inc, down 29.2 pct ** Globus Maritime Ltd, down 20.6 pct ** Boeing Co : down 6.6 pct Boeing: Gets first 'sell' in nearly 2 yrs as Wall St reviews ratings Global Boeing fears grow, families await Ethiopia crash remains ** Coca-Cola Co: down 0.4 pct Slips as HSBC cuts to "hold" ** Tesla Inc: down 2.5 pct Top-rated MS analyst cuts Model 3 target on demand fears ** Stitch Fix Inc: up 29.2 pct Post-results surge has shorts sewing wounds ** ADT Inc:down 12.1 pct Positioning for the new normal, slumps on weak 2019 outlook ** Zafgen Inc: down 34.8 pct Slumps after halting plans for experimental drug ** Regeneron Pharmaceuticals Inc: up 2.2 pct Up as FDA approves eczema drug for teens ** Avid Bioservices Inc: up 9.2 pct Rises after Q3 revenue beats expectations ** Domino's Pizza: down 1.6 pct Positive commentary boosts shares ** Eli Lilly and Co: down 0.1 pct JPM resumes coverage, adds to focus list ** Akebia Therapeutics Inc: up 6.5 pct Jumps as lead drug meets main goal in two late-stage studies ** Charles River Laboratories International Inc: up 0.3 pct Turns corner on pricing, demand remains robust ** Momo Inc: up 12.0 pct Rises on beat Q4 revenue, profit ** F5 Networks Inc: down 7.2 pct JPM calls NGINX buy "expensive"; cuts to "neutral" ** Dick's Sporting Goods Inc: down 10.0 pct Slumps on worse-than-expected same-store sales ** American Electric Power Co Inc: up 0.7 pct JPM raises to "overweight" ** Lipocine Inc: up 3.7 pct Jumps as experimental liver drug shows promise ** Roku Inc: down 2.3 pct Shares pause on planned $100 mln equity raise ** Hewlett Packard Enterprise Co: down 3.0 pct 'As cloud grows, on-premises slows' - UBS downgrades ** Coupa Software Inc: down 2.8 pct Set for best day in a month on Q4 results ** Monster Beverage Corp: down 2.4 pct Slips as BMO moves to sidelines on valuation concerns ** Altice USA Inc: down 3.2 pct Drops on 13.5 mln share block trade ** Stealth Biotherapeutics: down 4.3 pct Stealth's lead drug set up for success, but have to be 'convincing' -Jefferies ** NuVasive Inc: down 6.3 pct Tumbling as Smith & Nephew strikes Osiris deal ** Advaxis Inc: up 12.3 pct Posts first profit in 19 qtrs, shares up ** Ocean Power Technologies Inc: up 15.7 pct Surges on deal with offshore operator ** TheStreet Inc: down 2.2 pct Falls on wider-than-expected fourth-quarter loss ** MDC Partners Inc: down 15.0 pct Set for worst day in 10 months as BMO cuts to "market perform" ** Mistras Group Inc: down 10.9 pct Mistras shares tumble after quarterly results, outlook ** Luxfer Holdings Plc: down 2.7 pct Falls as fewer hurricanes dampen sales, outlook ** International Seaways Inc: up 9.2 pct Jumps after earnings beat ** Intrepid Potash Inc: up 3.4 pct Up on Q4 results beat ** F5 Networks Inc: down 7.2 pct Falls on deal to buy NGINX ** Southwest Airlines Co: down 2.3 pct ** American Airlines Group Inc: down 2.0 pct ** United Continental Holdings Inc: down 2.4 pct Southwest Air, American, United drop amid Boeing fallout ** VivoPower International Plc: up 56.2 pct Soars as co nears deal to sell U.S. assets ** Liquidia Technologies Inc: up 0.2 pct Wedbush sees multiple catalysts in next 12 months ** Frontier Communications Corp: up 4.2 pct Snaps 6-day losing streak on $1.65 bln refinancing ** SpartanNash Co: down 6.1 pct ** United Natural Foods Inc: down 9.4 pct SpartanNash, United Natural Foods sink on unappetizing Barclays outlook ** Care.com Inc: down 2.6 pct Shares fall again after announcing changes ** Dick's Sporting Goods Inc: down 10.0 pct Dick's Sporting move to drop Reebok hits Nike, Under Armour, other athleisure ** Goldcorp Inc: up 2.0 pct Jefferies expects labor dispute at Argentina mine to resolve quickly ** Hercules Capital Inc: down 7.8 pct Shares fall as CEO tied to college fraud scheme ** Akorn Inc: up 10.4 pct Higher on reported interest by Baxter International ** Alphabet Inc: up 2.0 pct Bursts above $1,200 for first time since October ** Altria Group Inc: down 0.7 pct ** Philip Morris International Inc: down 0.6 pct Tobacco stocks slip after new acting U.S. FDA chief named The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6595.0
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2019-03-12 00:00:00 UTC
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Europeans join wave of Boeing suspensions after Ethiopia crash
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AAL
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https://www.nasdaq.com/articles/europeans-join-wave-boeing-suspensions-after-ethiopia-crash-2019-03-12
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nan
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nan
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By David Shepardson and Duncan Miriri
WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations.
The Federal Aviation Administration's acting administrator, Dan Elwell, said a review by the body "shows no systemic performance issues and provides no basis to order grounding the aircraft."
But Elwell said no foreign civil aviation authorities had provided data that would warrant action. If any safety issues are identified during an ongoing urgent review of the Ethiopian Airlines crash, the FAA will "take immediate and appropriate action," he said.
Britain, Germany and France joined a wave of suspensions of the aircraft following the crash, followed by a similar decision by India, piling pressure on the United States to follow suit.
Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority.
The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel.
United Airlines' union pilots said that they had found no mechanical deficiencies in the plane in more than 23,000 flying hours.
The cause of Sunday's crash, which followed another disaster with a 737 MAX five months ago in Indonesia that killed 189 people, remains unknown. On Monday, the FAA released details of a series of design changes and training requirements mandated from Boeing on the MAX fleet after the Indonesia crash.
There is no evidence yet whether the two crashes are linked. Plane experts say it is too early to speculate on the reason for the latest crash. Most are caused by a unique chain of human and technical factors.
EUROPEAN SUSPENSION
In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets.
"Based on all available information, EASA considers that further actions may be necessary to ensure the continued airworthiness of the two affected models," it said in a statement.
It shied away, however, from the even rarer step of pulling the safety certification for the plane itself, focusing instead on the softer process of restricting its use by airlines. The move leaves some leeway for the U.S. FAA to decide its own approach.
Flight ET 302 came down in a field soon after takeoff from Addis Ababa, creating a fireball in a crater. It may take weeks or months to identify all the victims, who include a prize-winning author, a soccer official and a team of humanitarian workers.
Boeing shares fell 6.1 percent on Tuesday, bringing losses to 11.15 percent since the crash, the steepest two-day loss for the stock since July 2009. The drop has lopped $26.65 billion off Boeing's market value.
Of the top 10 countries by air passenger travel, all but the United States and Japan have halted flights of the 737 MAX. China, Indonesia, Singapore, New Zealand, Australia, Malaysia, Fiji and others have temporarily suspended the plane.
Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said. Argentina and other South American nations are evaluating closing their airspace to 737 MAX airplanes, Argentina's state-run news agency, Telam, reported on Tuesday.
U.S. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers."
Cruz said he intended to convene a hearing to investigate the crashes.
U.S. President Donald Trump also fretted over modern airplane design.
"Pilots are no longer needed, but rather computer scientists from MIT," Trump tweeted, lamenting that product developers always sought to go an unnecessary step further when "old and simpler" was superior.
"I don't know about you, but I don't want Albert Einstein to be my pilot. I want great flying professionals that are allowed to easily and quickly take control of a plane!" he added.
He did not refer to Boeing or recent accidents, but his comments echoed an automation debate that partially lies at the centre of a probe into October's Lion Air crash in Indonesia. Investigators are examining the role of a software system designed to push the plane down, alongside airline training and repair standards.
Boeing says it plans to update the software in coming weeks.
Trump spoke to Boeing Chief Executive Dennis Muilenburg on Tuesday and received assurances that the aircraft was safe, two people briefed on the call said.
VICTIMS FROM 30 NATIONS
Given problems of identification at the charred disaster site, Ethiopian Airlines said it would take at least five days to start handing remains to families.
The victims came from more than 30 nations, and included nearly two-dozen U.N. staff.
"We are Muslim and have to bury our deceased immediately," Noordin Mohamed, a 27-year-old Kenyan businessman whose brother and mother died, told .
"Losing a brother and mother in the same day and not having their bodies to bury is very painful," he said in the Kenyan capital, Nairobi, where the plane had been due.
If the black box recordings found at the Ethiopian crash site are undamaged, the cause of the crash could be identified quickly, although it typically takes a year for a full probe.
The new variant of the 737, the world's most-sold modern passenger aircraft, is viewed as the likely workhorse for global airlines for decades and 4,661 more are on order.
Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets.
GRAPHIC-Ethiopia Airlines crash location
GRAPHIC-Ethiopian airlines crash speed and altitude data
GRAPHIC-Ethiopian Airlines crash plane and black boxes
Boeingshares hit after Ethiopia jet crash
GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Boeing, the world's biggest planemaker, which has seen billions of dollars wiped off its market value since the crash, said it understood the countries' actions but retained "full confidence" in the 737 MAX and had safety as its priority. Canada has no plans to ground 737 MAX aircraft but is ready to act immediately to suspend flights if new information emerges indicating there is a problem, Transport Minister Marc Garneau said.
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In an unusual move, the European Union Aviation Safety Agency (EASA) said it was suspending all flights in the bloc of Boeing's 737 MAX 8 and 9 jets. Senator Ted Cruz, a Republican who chairs the Senate subcommittee on aviation and space, said on Tuesday it would be "prudent" for the United States "to temporarily ground 737 Max aircraft until the FAA confirms the safety of these aircraft and their passengers." GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. The three U.S. airlines using the 737 MAX - Southwest Airlines Co, American Airlines Group Inc and United Airlines - stood by the aircraft, although many potential passengers took to social media to express concerns, asking if they could change flights or cancel. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By David Shepardson and Duncan Miriri WASHINGTON/ADDIS ABABA, March 12 () - The U.S. aviation regulator said on Tuesday it would not ground Boeing Co 737 MAX planes after a crash in Ethiopia that killed 157 people, bucking a trend of countries around the world that have suspended the aircraft's operations. Over 40 percent of the MAX fleet has been grounded, Flightglobal said, although many airlines still use older jets. GRAPHIC-Ethiopia Airlines crash location GRAPHIC-Ethiopian airlines crash speed and altitude data GRAPHIC-Ethiopian Airlines crash plane and black boxes Boeingshares hit after Ethiopia jet crash GRAPHIC-Ethiopian airlines crash, alarm in the aviation industry ( The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6596.0
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2019-03-11 00:00:00 UTC
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Heavyweight Boeing pressures Dow, while tech lifts S&P & Nasdaq
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AAL
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https://www.nasdaq.com/articles/heavyweight-boeing-pressures-dow-while-tech-lifts-sp-nasdaq-2019-03-11
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By Amy Caren Daniel
March 11 () - The Dow Jones Industrial index fell on Monday as shares of the world's largest planemaker tumbled after a second deadly crash in just five months, but a jump in technology stocks helped cap some losses and lift the broader markets.
Boeing Co, the best performing Dow component this year by a wide margin, tumbled 10.7 percent, and was on pace for its worst day in nearly two decades after many airlines grounded the company's new 737 MAX 8 passenger jet.
Their losses pushed the Dow Jones Airlines index 0.47 percent lower.
"Boeing without any question is going to be the theme for the Dow index, given its enormous weighting, but I don't see a spillover to any other indexes except airlines," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
The high-flying technology sector rose 1.34 percent, the most among the 10 major S&P sectors trading higher.
Apple Inc rose 2.3 percent, and was the biggest boost to the benchmark S&P 500 and Nasdaq indexes after Bank of America Merrill Lynch upgraded the iPhone maker's shares to "buy" from "neutral".
Other marquee names also rose — Microsoft Corp, Facebook Inc and Amazon.com Inc gained between 1.2 and 2.3 percent.
Markets earlier shrugged off data which showed U.S. retail sales unexpectedly rose in January, lifted by an increase in purchases of building materials and discretionary spending, but receipts in December were much weaker than initially thought.
This comes on the heels of data from last week that showed U.S. employment growth almost stalled in February, which added to global growth fears that were already fanned by a sharp fall in China's exports and as the European Central Bank slashed growth forecasts for the region.
The S&P 500 index ended the week 2.2 percent lower, its biggest weekly decline since the market tumbled at the end of 2018, weighed by concerns of a slowing economy. The benchmark index is now about 6 percent away from its record high hit on Sept. 20.
At 9:50 a.m. ET the Dow Jones Industrial Average was down 122.51 points, or 0.48 percent, at 25,327.73. The S&P 500 was up 14.92 points, or 0.54 percent, at 2,757.99 and the Nasdaq Composite was up 67.46 points, or 0.91 percent, at 7,475.60.
The industrial sector fell 0.79 percent and was the only S&P sector trading lower.
In other news, President Donald Trump on Monday will ask lawmakers to hike spending for the military and the wall he wants to build on the U.S.-Mexico border and slash other programs in his 2020 budget.
The Republican president's proposal, slated for release at 11:30 a.m. (1530 GMT), is expected to be rejected by Congress.
Advancing issues outnumbered decliners for a 2.62-to-1 ratio on the NYSE and a 2.08-to-1 ratio on the Nasdaq.
The S&P index recorded 15 new 52-week highs and no new lows, while the Nasdaq recorded 22 new highs and 14 new lows.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Amy Caren Daniel March 11 () - The Dow Jones Industrial index fell on Monday as shares of the world's largest planemaker tumbled after a second deadly crash in just five months, but a jump in technology stocks helped cap some losses and lift the broader markets. Boeing Co, the best performing Dow component this year by a wide margin, tumbled 10.7 percent, and was on pace for its worst day in nearly two decades after many airlines grounded the company's new 737 MAX 8 passenger jet. Markets earlier shrugged off data which showed U.S. retail sales unexpectedly rose in January, lifted by an increase in purchases of building materials and discretionary spending, but receipts in December were much weaker than initially thought.
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By Amy Caren Daniel March 11 () - The Dow Jones Industrial index fell on Monday as shares of the world's largest planemaker tumbled after a second deadly crash in just five months, but a jump in technology stocks helped cap some losses and lift the broader markets. Their losses pushed the Dow Jones Airlines index 0.47 percent lower. The S&P 500 index ended the week 2.2 percent lower, its biggest weekly decline since the market tumbled at the end of 2018, weighed by concerns of a slowing economy.
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Apple Inc rose 2.3 percent, and was the biggest boost to the benchmark S&P 500 and Nasdaq indexes after Bank of America Merrill Lynch upgraded the iPhone maker's shares to "buy" from "neutral". The S&P 500 index ended the week 2.2 percent lower, its biggest weekly decline since the market tumbled at the end of 2018, weighed by concerns of a slowing economy. The S&P 500 was up 14.92 points, or 0.54 percent, at 2,757.99 and the Nasdaq Composite was up 67.46 points, or 0.91 percent, at 7,475.60.
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Their losses pushed the Dow Jones Airlines index 0.47 percent lower. The benchmark index is now about 6 percent away from its record high hit on Sept. 20. ET the Dow Jones Industrial Average was down 122.51 points, or 0.48 percent, at 25,327.73.
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6597.0
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2019-03-11 00:00:00 UTC
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U.S. STOCKS ON THE MOVE-Boeing, Facebook, Apple, Nvidia, Mellanox
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AAL
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https://www.nasdaq.com/articles/us-stocks-move-boeing-facebook-apple-nvidia-mellanox-2019-03-11
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The Day Ahead newsletter:
The Morning News Call newsletter:
U.S. stocks rose after five straight sessions of declines on Monday boosted by technology stocks, however a fall in the shares of Boeing Co after a second deadly crash in just five months capped gains on the blue-chip Dow.
The top three S&P 500 percentage gainers:
** Nvidia Corp, up 4.6 pct
** Western Digital Corp, up 4.5 pct
** Align Technology Inc, up 3.9 pct
The top three S&P 500 percentage losers:
** Boeing Co, down 6.7 pct
** Hanesbrands Inc, down 2.7 pct
** Newmont Mining Corp, down 2.5 pct
The top NYSE percentage gainer:
** Bloom Energy Corp, up 12.4 pct
The top three NYSE percentage losers:
** Care.com Inc, down 16.1 pct
** American Renal Associates Holdings Inc, down 10.4 pct
** San Juan Basin Royalty Trust, down 9.9 pct
The top three Nasdaq percentage gainers:
** Seres Therapeutics Inc, up 39.1 pct
** Yatra Online Inc, up 38.7 pct
** Globus Maritime Ltd, up 38.1 pct
The top three Nasdaq percentage losers:
** AquaBounty Technologies Inc, down 23.5 pct
** Seelos Therapeutics Inc, down 18.6 pct
** Pepper Food Service Co Ltd, down 15 pct
** Boeing Co: down 6.7 pct
Slumps after second 737 MAX 8 crash in 6 months
Boeing share slide boosts options trading
Street View: Boeing shares plunge after second crash
UPDATE 7-Chinese carriers, Ethiopian Airlines halt use of Boeing 737 MAX 8 aircraft after crash
** Apple Inc: up 3.1 pct
Rises after top BofA analyst raises to 'buy'
** Facebook Inc: up 2.0 pct
Rises as Instinet raises to 'buy' on quicker Stories transition
** Tesla Inc: up 0.8 pct
Shares up as co to raise prices on its high-end vehicles
Tesla backtracks on store closures, plans top-end price rise
** Nio Inc: down 4.2 pct
Tesla rival Nio careens as IPO lock-up expires
** Mellanox Technologies Ltd: up 8.4 pct
** Nvidia Corp: up 4.6 pct
Recoups some losses after $6.8 bln bid for Mellanox
Nvidia nears deal to acquire Mellanox Technologies -source
** Newmont Mining Corp: down 2.5 pct
** Barrick Gold Corp: up 1.5 pct
Barrick Gold: U.S.-listed stock gains; co ends bid for Newmont
Barrick ends hostile bid for Newmont, signs Nevada joint venture
** FireEye Inc: up 6.6 pct
FireEye:'Billings a better picture' - JPM
** Encana Corp : up 4.5 pct
Cowen upgrades to "outperform"
** Cronos Group Inc: down 3.4 pct
BMO downgrades to "underperform"
** Axovant Sciences Ltd: up 33.8 pct
Surges on mid-stage Parkinson's disease gene therapy data
** Nike Inc: up 0.5 pct
Adidas to see growth in N. America but Nike still one shoe ahead - Cowen
** American Renal Associates Holdings Inc: down 10.4 pct
Analysts cautious on American Renal Associates after Q4 earnings delay
** JinkoSolar Holding Co Ltd: up 6.6 pct
Credit Suisse raises PT, sees higher gross margins
** Nutanix Inc: up 5.2 pct
Jefferies says potential rewards outweigh risks; ups to 'buy'
** Daseke Inc: up 10.2 pct
Rises after 5-star analyst upgrades to 'buy'
** Cellect Biotechnology Ltd: up 26.5 pct
Surges on positive stem cell technology study
** aTyr Pharma Inc: up 7.0 pct
Surges after R&D deal with CSL Behring
** Elanco Animal Health: up 3.9 pct
Up after completing separation from Lilly
** Southwest Airlines Co: down 1.0 pct
** American Airlines Group Inc: up 0.8 pct
** Delta Air Lines Inc: up 2.4 pct
** Spirit Airlines Inc: up 1.5 pct
Southwest, American Airlines shares drop after Boeing 737 MAX crash
** Seres Therapeutics Inc: up 39.1 pct
Jumps after tie-up with AstraZeneca for cancer drugs
** Spirit AeroSystems Holdings Inc: down 6.0 pct
** Triumph Group Inc: down 5.3 pct
** Hexcel Corp: down 2.7 pct
Spirit Aero, Triumph, other suppliers hit after Boeing crash
** Marsh & McLennan Cos Inc: up 0.6 pct
Falls briefly after reports company is Boeing's insurance broker
** Strongbridge Biopharma Plc: up 4.0 pct
Up on encouraging results from extended trial
** Aurora Cannabis Inc: up 3.1 pct
Begins cannabis oil sales to German pharmacies, shares up
** Quorum Health Corp: down 18.7 pct
** Maiden Holdings Ltd: down 20.4 pct
Quorum, Maiden Holdings touch record lows on their way out of S&P
** Ultra Clean Holdings Inc: up 6.5 pct
Craig-Hallum upgrades to "buy"; sees attractive risk/reward
** Yatra Online Inc: up 38.7 pct
Rises on buyout offer from Ebix
** Care.com Inc: down 16.1 pct
** Caesars Entertainment Corp: up 1.4 pct
Shares up after Icahn again raises stake
The 11 major S&P 500 sectors:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose after five straight sessions of declines on Monday boosted by technology stocks, however a fall in the shares of Boeing Co after a second deadly crash in just five months capped gains on the blue-chip Dow. The top three S&P 500 percentage gainers: ** Nvidia Corp, up 4.6 pct ** Western Digital Corp, up 4.5 pct ** Align Technology Inc, up 3.9 pct The top three S&P 500 percentage losers: ** Boeing Co, down 6.7 pct ** Hanesbrands Inc, down 2.7 pct ** Newmont Mining Corp, down 2.5 pct The top NYSE percentage gainer: ** Bloom Energy Corp, up 12.4 pct The top three NYSE percentage losers: ** Care.com Inc, down 16.1 pct ** American Renal Associates Holdings Inc, down 10.4 pct ** San Juan Basin Royalty Trust, down 9.9 pct The top three Nasdaq percentage gainers: ** Seres Therapeutics Inc, up 39.1 pct ** Yatra Online Inc, up 38.7 pct ** Globus Maritime Ltd, up 38.1 pct The top three Nasdaq percentage losers: ** AquaBounty Technologies Inc, down 23.5 pct ** Seelos Therapeutics Inc, down 18.6 pct ** Pepper Food Service Co Ltd, down 15 pct ** Boeing Co: down 6.7 pct Slumps after second 737 MAX 8 crash in 6 months Boeing share slide boosts options trading Street View: Boeing shares plunge after second crash UPDATE 7-Chinese carriers, Ethiopian Airlines halt use of Boeing 737 MAX 8 aircraft after crash ** Apple Inc: up 3.1 pct Rises after top BofA analyst raises to 'buy' ** Facebook Inc: up 2.0 pct Rises as Instinet raises to 'buy' on quicker Stories transition ** Tesla Inc: up 0.8 pct Shares up as co to raise prices on its high-end vehicles Tesla backtracks on store closures, plans top-end price rise ** Nio Inc: down 4.2 pct Tesla rival Nio careens as IPO lock-up expires ** Mellanox Technologies Ltd: up 8.4 pct ** Nvidia Corp: up 4.6 pct Recoups some losses after $6.8 bln bid for Mellanox Nvidia nears deal to acquire Mellanox Technologies -source ** Newmont Mining Corp: down 2.5 pct ** Barrick Gold Corp: up 1.5 pct Barrick Gold: U.S.-listed stock gains; co ends bid for Newmont Barrick ends hostile bid for Newmont, signs Nevada joint venture ** FireEye Inc: up 6.6 pct FireEye:'Billings a better picture' - JPM ** Encana Corp : up 4.5 pct Cowen upgrades to "outperform" ** Cronos Group Inc: down 3.4 pct BMO downgrades to "underperform" ** Axovant Sciences Ltd: up 33.8 pct Surges on mid-stage Parkinson's disease gene therapy data ** Nike Inc: up 0.5 pct Adidas to see growth in N. America but Nike still one shoe ahead - Cowen ** American Renal Associates Holdings Inc: down 10.4 pct Analysts cautious on American Renal Associates after Q4 earnings delay ** JinkoSolar Holding Co Ltd: up 6.6 pct Credit Suisse raises PT, sees higher gross margins ** Nutanix Inc: up 5.2 pct Jefferies says potential rewards outweigh risks; ups to 'buy' ** Daseke Inc: up 10.2 pct Rises after 5-star analyst upgrades to 'buy' ** Cellect Biotechnology Ltd: up 26.5 pct Surges on positive stem cell technology study ** aTyr Pharma Inc: up 7.0 pct Surges after R&D deal with CSL Behring ** Elanco Animal Health: up 3.9 pct Up after completing separation from Lilly ** Southwest Airlines Co: down 1.0 pct ** American Airlines Group Inc: up 0.8 pct ** Delta Air Lines Inc: up 2.4 pct ** Spirit Airlines Inc: up 1.5 pct Southwest, American Airlines shares drop after Boeing 737 MAX crash ** Seres Therapeutics Inc: up 39.1 pct Jumps after tie-up with AstraZeneca for cancer drugs ** Spirit AeroSystems Holdings Inc: down 6.0 pct ** Triumph Group Inc: down 5.3 pct ** Hexcel Corp: down 2.7 pct Spirit Aero, Triumph, other suppliers hit after Boeing crash ** Marsh & McLennan Cos Inc: up 0.6 pct Falls briefly after reports company is Boeing's insurance broker ** Strongbridge Biopharma Plc: up 4.0 pct Up on encouraging results from extended trial ** Aurora Cannabis Inc: up 3.1 pct Begins cannabis oil sales to German pharmacies, shares up ** Quorum Health Corp: down 18.7 pct ** Maiden Holdings Ltd: down 20.4 pct Quorum, Maiden Holdings touch record lows on their way out of S&P ** Ultra Clean Holdings Inc: up 6.5 pct Craig-Hallum upgrades to "buy"; sees attractive risk/reward ** Yatra Online Inc: up 38.7 pct Rises on buyout offer from Ebix ** Care.com Inc: down 16.1 pct ** Caesars Entertainment Corp: up 1.4 pct Shares up after Icahn again raises stake The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose after five straight sessions of declines on Monday boosted by technology stocks, however a fall in the shares of Boeing Co after a second deadly crash in just five months capped gains on the blue-chip Dow. The top three S&P 500 percentage gainers: ** Nvidia Corp, up 4.6 pct ** Western Digital Corp, up 4.5 pct ** Align Technology Inc, up 3.9 pct The top three S&P 500 percentage losers: ** Boeing Co, down 6.7 pct ** Hanesbrands Inc, down 2.7 pct ** Newmont Mining Corp, down 2.5 pct The top NYSE percentage gainer: ** Bloom Energy Corp, up 12.4 pct The top three NYSE percentage losers: ** Care.com Inc, down 16.1 pct ** American Renal Associates Holdings Inc, down 10.4 pct ** San Juan Basin Royalty Trust, down 9.9 pct The top three Nasdaq percentage gainers: ** Seres Therapeutics Inc, up 39.1 pct ** Yatra Online Inc, up 38.7 pct ** Globus Maritime Ltd, up 38.1 pct The top three Nasdaq percentage losers: ** AquaBounty Technologies Inc, down 23.5 pct ** Seelos Therapeutics Inc, down 18.6 pct ** Pepper Food Service Co Ltd, down 15 pct ** Boeing Co: down 6.7 pct Slumps after second 737 MAX 8 crash in 6 months Boeing share slide boosts options trading Street View: Boeing shares plunge after second crash UPDATE 7-Chinese carriers, Ethiopian Airlines halt use of Boeing 737 MAX 8 aircraft after crash ** Apple Inc: up 3.1 pct Rises after top BofA analyst raises to 'buy' ** Facebook Inc: up 2.0 pct Rises as Instinet raises to 'buy' on quicker Stories transition ** Tesla Inc: up 0.8 pct Shares up as co to raise prices on its high-end vehicles Tesla backtracks on store closures, plans top-end price rise ** Nio Inc: down 4.2 pct Tesla rival Nio careens as IPO lock-up expires ** Mellanox Technologies Ltd: up 8.4 pct ** Nvidia Corp: up 4.6 pct Recoups some losses after $6.8 bln bid for Mellanox Nvidia nears deal to acquire Mellanox Technologies -source ** Newmont Mining Corp: down 2.5 pct ** Barrick Gold Corp: up 1.5 pct Barrick Gold: U.S.-listed stock gains; co ends bid for Newmont Barrick ends hostile bid for Newmont, signs Nevada joint venture ** FireEye Inc: up 6.6 pct FireEye:'Billings a better picture' - JPM ** Encana Corp : up 4.5 pct Cowen upgrades to "outperform" ** Cronos Group Inc: down 3.4 pct BMO downgrades to "underperform" ** Axovant Sciences Ltd: up 33.8 pct Surges on mid-stage Parkinson's disease gene therapy data ** Nike Inc: up 0.5 pct Adidas to see growth in N. America but Nike still one shoe ahead - Cowen ** American Renal Associates Holdings Inc: down 10.4 pct Analysts cautious on American Renal Associates after Q4 earnings delay ** JinkoSolar Holding Co Ltd: up 6.6 pct Credit Suisse raises PT, sees higher gross margins ** Nutanix Inc: up 5.2 pct Jefferies says potential rewards outweigh risks; ups to 'buy' ** Daseke Inc: up 10.2 pct Rises after 5-star analyst upgrades to 'buy' ** Cellect Biotechnology Ltd: up 26.5 pct Surges on positive stem cell technology study ** aTyr Pharma Inc: up 7.0 pct Surges after R&D deal with CSL Behring ** Elanco Animal Health: up 3.9 pct Up after completing separation from Lilly ** Southwest Airlines Co: down 1.0 pct ** American Airlines Group Inc: up 0.8 pct ** Delta Air Lines Inc: up 2.4 pct ** Spirit Airlines Inc: up 1.5 pct Southwest, American Airlines shares drop after Boeing 737 MAX crash ** Seres Therapeutics Inc: up 39.1 pct Jumps after tie-up with AstraZeneca for cancer drugs ** Spirit AeroSystems Holdings Inc: down 6.0 pct ** Triumph Group Inc: down 5.3 pct ** Hexcel Corp: down 2.7 pct Spirit Aero, Triumph, other suppliers hit after Boeing crash ** Marsh & McLennan Cos Inc: up 0.6 pct Falls briefly after reports company is Boeing's insurance broker ** Strongbridge Biopharma Plc: up 4.0 pct Up on encouraging results from extended trial ** Aurora Cannabis Inc: up 3.1 pct Begins cannabis oil sales to German pharmacies, shares up ** Quorum Health Corp: down 18.7 pct ** Maiden Holdings Ltd: down 20.4 pct Quorum, Maiden Holdings touch record lows on their way out of S&P ** Ultra Clean Holdings Inc: up 6.5 pct Craig-Hallum upgrades to "buy"; sees attractive risk/reward ** Yatra Online Inc: up 38.7 pct Rises on buyout offer from Ebix ** Care.com Inc: down 16.1 pct ** Caesars Entertainment Corp: up 1.4 pct Shares up after Icahn again raises stake The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose after five straight sessions of declines on Monday boosted by technology stocks, however a fall in the shares of Boeing Co after a second deadly crash in just five months capped gains on the blue-chip Dow. The top three S&P 500 percentage gainers: ** Nvidia Corp, up 4.6 pct ** Western Digital Corp, up 4.5 pct ** Align Technology Inc, up 3.9 pct The top three S&P 500 percentage losers: ** Boeing Co, down 6.7 pct ** Hanesbrands Inc, down 2.7 pct ** Newmont Mining Corp, down 2.5 pct The top NYSE percentage gainer: ** Bloom Energy Corp, up 12.4 pct The top three NYSE percentage losers: ** Care.com Inc, down 16.1 pct ** American Renal Associates Holdings Inc, down 10.4 pct ** San Juan Basin Royalty Trust, down 9.9 pct The top three Nasdaq percentage gainers: ** Seres Therapeutics Inc, up 39.1 pct ** Yatra Online Inc, up 38.7 pct ** Globus Maritime Ltd, up 38.1 pct The top three Nasdaq percentage losers: ** AquaBounty Technologies Inc, down 23.5 pct ** Seelos Therapeutics Inc, down 18.6 pct ** Pepper Food Service Co Ltd, down 15 pct ** Boeing Co: down 6.7 pct Slumps after second 737 MAX 8 crash in 6 months Boeing share slide boosts options trading Street View: Boeing shares plunge after second crash UPDATE 7-Chinese carriers, Ethiopian Airlines halt use of Boeing 737 MAX 8 aircraft after crash ** Apple Inc: up 3.1 pct Rises after top BofA analyst raises to 'buy' ** Facebook Inc: up 2.0 pct Rises as Instinet raises to 'buy' on quicker Stories transition ** Tesla Inc: up 0.8 pct Shares up as co to raise prices on its high-end vehicles Tesla backtracks on store closures, plans top-end price rise ** Nio Inc: down 4.2 pct Tesla rival Nio careens as IPO lock-up expires ** Mellanox Technologies Ltd: up 8.4 pct ** Nvidia Corp: up 4.6 pct Recoups some losses after $6.8 bln bid for Mellanox Nvidia nears deal to acquire Mellanox Technologies -source ** Newmont Mining Corp: down 2.5 pct ** Barrick Gold Corp: up 1.5 pct Barrick Gold: U.S.-listed stock gains; co ends bid for Newmont Barrick ends hostile bid for Newmont, signs Nevada joint venture ** FireEye Inc: up 6.6 pct FireEye:'Billings a better picture' - JPM ** Encana Corp : up 4.5 pct Cowen upgrades to "outperform" ** Cronos Group Inc: down 3.4 pct BMO downgrades to "underperform" ** Axovant Sciences Ltd: up 33.8 pct Surges on mid-stage Parkinson's disease gene therapy data ** Nike Inc: up 0.5 pct Adidas to see growth in N. America but Nike still one shoe ahead - Cowen ** American Renal Associates Holdings Inc: down 10.4 pct Analysts cautious on American Renal Associates after Q4 earnings delay ** JinkoSolar Holding Co Ltd: up 6.6 pct Credit Suisse raises PT, sees higher gross margins ** Nutanix Inc: up 5.2 pct Jefferies says potential rewards outweigh risks; ups to 'buy' ** Daseke Inc: up 10.2 pct Rises after 5-star analyst upgrades to 'buy' ** Cellect Biotechnology Ltd: up 26.5 pct Surges on positive stem cell technology study ** aTyr Pharma Inc: up 7.0 pct Surges after R&D deal with CSL Behring ** Elanco Animal Health: up 3.9 pct Up after completing separation from Lilly ** Southwest Airlines Co: down 1.0 pct ** American Airlines Group Inc: up 0.8 pct ** Delta Air Lines Inc: up 2.4 pct ** Spirit Airlines Inc: up 1.5 pct Southwest, American Airlines shares drop after Boeing 737 MAX crash ** Seres Therapeutics Inc: up 39.1 pct Jumps after tie-up with AstraZeneca for cancer drugs ** Spirit AeroSystems Holdings Inc: down 6.0 pct ** Triumph Group Inc: down 5.3 pct ** Hexcel Corp: down 2.7 pct Spirit Aero, Triumph, other suppliers hit after Boeing crash ** Marsh & McLennan Cos Inc: up 0.6 pct Falls briefly after reports company is Boeing's insurance broker ** Strongbridge Biopharma Plc: up 4.0 pct Up on encouraging results from extended trial ** Aurora Cannabis Inc: up 3.1 pct Begins cannabis oil sales to German pharmacies, shares up ** Quorum Health Corp: down 18.7 pct ** Maiden Holdings Ltd: down 20.4 pct Quorum, Maiden Holdings touch record lows on their way out of S&P ** Ultra Clean Holdings Inc: up 6.5 pct Craig-Hallum upgrades to "buy"; sees attractive risk/reward ** Yatra Online Inc: up 38.7 pct Rises on buyout offer from Ebix ** Care.com Inc: down 16.1 pct ** Caesars Entertainment Corp: up 1.4 pct Shares up after Icahn again raises stake The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The Day Ahead newsletter: The Morning News Call newsletter: U.S. stocks rose after five straight sessions of declines on Monday boosted by technology stocks, however a fall in the shares of Boeing Co after a second deadly crash in just five months capped gains on the blue-chip Dow. The top three S&P 500 percentage gainers: ** Nvidia Corp, up 4.6 pct ** Western Digital Corp, up 4.5 pct ** Align Technology Inc, up 3.9 pct The top three S&P 500 percentage losers: ** Boeing Co, down 6.7 pct ** Hanesbrands Inc, down 2.7 pct ** Newmont Mining Corp, down 2.5 pct The top NYSE percentage gainer: ** Bloom Energy Corp, up 12.4 pct The top three NYSE percentage losers: ** Care.com Inc, down 16.1 pct ** American Renal Associates Holdings Inc, down 10.4 pct ** San Juan Basin Royalty Trust, down 9.9 pct The top three Nasdaq percentage gainers: ** Seres Therapeutics Inc, up 39.1 pct ** Yatra Online Inc, up 38.7 pct ** Globus Maritime Ltd, up 38.1 pct The top three Nasdaq percentage losers: ** AquaBounty Technologies Inc, down 23.5 pct ** Seelos Therapeutics Inc, down 18.6 pct ** Pepper Food Service Co Ltd, down 15 pct ** Boeing Co: down 6.7 pct Slumps after second 737 MAX 8 crash in 6 months Boeing share slide boosts options trading Street View: Boeing shares plunge after second crash UPDATE 7-Chinese carriers, Ethiopian Airlines halt use of Boeing 737 MAX 8 aircraft after crash ** Apple Inc: up 3.1 pct Rises after top BofA analyst raises to 'buy' ** Facebook Inc: up 2.0 pct Rises as Instinet raises to 'buy' on quicker Stories transition ** Tesla Inc: up 0.8 pct Shares up as co to raise prices on its high-end vehicles Tesla backtracks on store closures, plans top-end price rise ** Nio Inc: down 4.2 pct Tesla rival Nio careens as IPO lock-up expires ** Mellanox Technologies Ltd: up 8.4 pct ** Nvidia Corp: up 4.6 pct Recoups some losses after $6.8 bln bid for Mellanox Nvidia nears deal to acquire Mellanox Technologies -source ** Newmont Mining Corp: down 2.5 pct ** Barrick Gold Corp: up 1.5 pct Barrick Gold: U.S.-listed stock gains; co ends bid for Newmont Barrick ends hostile bid for Newmont, signs Nevada joint venture ** FireEye Inc: up 6.6 pct FireEye:'Billings a better picture' - JPM ** Encana Corp : up 4.5 pct Cowen upgrades to "outperform" ** Cronos Group Inc: down 3.4 pct BMO downgrades to "underperform" ** Axovant Sciences Ltd: up 33.8 pct Surges on mid-stage Parkinson's disease gene therapy data ** Nike Inc: up 0.5 pct Adidas to see growth in N. America but Nike still one shoe ahead - Cowen ** American Renal Associates Holdings Inc: down 10.4 pct Analysts cautious on American Renal Associates after Q4 earnings delay ** JinkoSolar Holding Co Ltd: up 6.6 pct Credit Suisse raises PT, sees higher gross margins ** Nutanix Inc: up 5.2 pct Jefferies says potential rewards outweigh risks; ups to 'buy' ** Daseke Inc: up 10.2 pct Rises after 5-star analyst upgrades to 'buy' ** Cellect Biotechnology Ltd: up 26.5 pct Surges on positive stem cell technology study ** aTyr Pharma Inc: up 7.0 pct Surges after R&D deal with CSL Behring ** Elanco Animal Health: up 3.9 pct Up after completing separation from Lilly ** Southwest Airlines Co: down 1.0 pct ** American Airlines Group Inc: up 0.8 pct ** Delta Air Lines Inc: up 2.4 pct ** Spirit Airlines Inc: up 1.5 pct Southwest, American Airlines shares drop after Boeing 737 MAX crash ** Seres Therapeutics Inc: up 39.1 pct Jumps after tie-up with AstraZeneca for cancer drugs ** Spirit AeroSystems Holdings Inc: down 6.0 pct ** Triumph Group Inc: down 5.3 pct ** Hexcel Corp: down 2.7 pct Spirit Aero, Triumph, other suppliers hit after Boeing crash ** Marsh & McLennan Cos Inc: up 0.6 pct Falls briefly after reports company is Boeing's insurance broker ** Strongbridge Biopharma Plc: up 4.0 pct Up on encouraging results from extended trial ** Aurora Cannabis Inc: up 3.1 pct Begins cannabis oil sales to German pharmacies, shares up ** Quorum Health Corp: down 18.7 pct ** Maiden Holdings Ltd: down 20.4 pct Quorum, Maiden Holdings touch record lows on their way out of S&P ** Ultra Clean Holdings Inc: up 6.5 pct Craig-Hallum upgrades to "buy"; sees attractive risk/reward ** Yatra Online Inc: up 38.7 pct Rises on buyout offer from Ebix ** Care.com Inc: down 16.1 pct ** Caesars Entertainment Corp: up 1.4 pct Shares up after Icahn again raises stake The 11 major S&P 500 sectors: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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6598.0
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2019-03-11 00:00:00 UTC
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US STOCKS-Heavyweight Boeing pressures Dow, while tech lifts S&P & Nasdaq
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AAL
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https://www.nasdaq.com/articles/us-stocks-heavyweight-boeing-pressures-dow-while-tech-lifts-sp-nasdaq-2019-03-11
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(For a live blog on the U.S. stock market, click LIVE/ ortype LIVE/ in a news window)
* Dow down 0.48 pct as Boeing falls after plane crash
* Shares of other airlines also down, industrials skid
* Apple rises after brokerage upgrades to "buy" (Updates to open)
By Amy Caren Daniel
March 11 (Reuters) - The Dow Jones Industrial index fell onMonday as shares of the world's largest planemaker tumbled aftera second deadly crash in just five months, but a jump intechnology stocks helped cap some losses and lift the broadermarkets.
Boeing CoBA.N , the best performing Dow component thisyear by a wide margin, tumbled 10.7 percent, and was on pace forits worst day in nearly two decades after many airlines groundedthe company's new 737 MAX 8 passenger jet. urn:newsml:reuters.com:*:nL3N20Y23F
American Airlines Group IncAAL.O , Southwest Airlines CoLUV.N and JetBlue Airways CorpJBLU.O were trading downbetween 0.3 percent and 2.5 percent.
Their losses pushed the Dow Jones Airlines index .DJUSAR 0.47 percent lower.
"Boeing without any question is going to be the theme forthe Dow index, given its enormous weighting, but I don't see aspillover to any other indexes except airlines," said RandyFrederick, vice president of trading and derivatives for CharlesSchwab in Austin, Texas.
The high-flying technology sector rose 1.34 percent, themost among the 10 major S&P sectors trading higher.
Apple IncAAPL.O rose 2.3 percent, and was the biggestboost to the benchmark S&P 500 and Nasdaq indexes after Bank ofAmerica Merrill Lynch upgraded the iPhone maker's shares to"buy" from "neutral".
Other marquee names also rose — Microsoft CorpMSFT.O ,Facebook IncFB.O and Amazon.com IncAMZN.O gained between1.2 and 2.3 percent.
Markets earlier shrugged off data which showed U.S. retailsales unexpectedly rose in January, lifted by an increase inpurchases of building materials and discretionary spending, butreceipts in December were much weaker than initially thought. urn:newsml:reuters.com:*:nUSNBEEFR2
This comes on the heels of data from last week that showedU.S. employment growth almost stalled in February, which addedto global growth fears that were already fanned by a sharp fallin China's exports and as the European Central Bank slashedgrowth forecasts for the region.
The S&P 500 index .SPX ended the week 2.2 percent lower,its biggest weekly decline since the market tumbled at the endof 2018, weighed by concerns of a slowing economy. The benchmarkindex is now about 6 percent away from its record high hit onSept. 20.
At 9:50 a.m. ET the Dow Jones Industrial Average .DJI wasdown 122.51 points, or 0.48 percent, at 25,327.73. The S&P 500 .SPX was up 14.92 points, or 0.54 percent, at 2,757.99 and theNasdaq Composite .IXIC was up 67.46 points, or 0.91 percent,at 7,475.60.
The industrial sector .SPLRCI fell 0.79 percent and wasthe only S&P sector trading lower.
In other news, President Donald Trump on Monday will asklawmakers to hike spending for the military and the wall hewants to build on the U.S.-Mexico border and slash otherprograms in his 2020 budget. urn:newsml:reuters.com:*:nL1N20X08K
The Republican president's proposal, slated for release at11:30 a.m. (1530 GMT), is expected to be rejected by Congress.
Advancing issues outnumbered decliners for a 2.62-to-1 ratioon the NYSE and a 2.08-to-1 ratio on the Nasdaq.
The S&P index recorded 15 new 52-week highs and no new lows,while the Nasdaq recorded 22 new highs and 14 new lows. (Reporting by Amy Caren Daniel and Medha Singh in Bengaluru;Editing by Shounak Dasgupta) ((Amy.CarenDaniel@thomsonreuters.com ; within U.S.+1-646-223-8780; outside U.S. +91 80 6749 9250 ; ReutersMessaging: Amy.CarenDaniel.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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urn:newsml:reuters.com:*:nL3N20Y23F American Airlines Group IncAAL.O , Southwest Airlines CoLUV.N and JetBlue Airways CorpJBLU.O were trading downbetween 0.3 percent and 2.5 percent. (For a live blog on the U.S. stock market, click LIVE/ ortype LIVE/ in a news window) * Dow down 0.48 pct as Boeing falls after plane crash * Shares of other airlines also down, industrials skid * Apple rises after brokerage upgrades to "buy" (Updates to open) By Amy Caren Daniel March 11 (Reuters) - The Dow Jones Industrial index fell onMonday as shares of the world's largest planemaker tumbled aftera second deadly crash in just five months, but a jump intechnology stocks helped cap some losses and lift the broadermarkets. Boeing CoBA.N , the best performing Dow component thisyear by a wide margin, tumbled 10.7 percent, and was on pace forits worst day in nearly two decades after many airlines groundedthe company's new 737 MAX 8 passenger jet.
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urn:newsml:reuters.com:*:nL3N20Y23F American Airlines Group IncAAL.O , Southwest Airlines CoLUV.N and JetBlue Airways CorpJBLU.O were trading downbetween 0.3 percent and 2.5 percent. (For a live blog on the U.S. stock market, click LIVE/ ortype LIVE/ in a news window) * Dow down 0.48 pct as Boeing falls after plane crash * Shares of other airlines also down, industrials skid * Apple rises after brokerage upgrades to "buy" (Updates to open) By Amy Caren Daniel March 11 (Reuters) - The Dow Jones Industrial index fell onMonday as shares of the world's largest planemaker tumbled aftera second deadly crash in just five months, but a jump intechnology stocks helped cap some losses and lift the broadermarkets. Their losses pushed the Dow Jones Airlines index .DJUSAR 0.47 percent lower.
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urn:newsml:reuters.com:*:nL3N20Y23F American Airlines Group IncAAL.O , Southwest Airlines CoLUV.N and JetBlue Airways CorpJBLU.O were trading downbetween 0.3 percent and 2.5 percent. (For a live blog on the U.S. stock market, click LIVE/ ortype LIVE/ in a news window) * Dow down 0.48 pct as Boeing falls after plane crash * Shares of other airlines also down, industrials skid * Apple rises after brokerage upgrades to "buy" (Updates to open) By Amy Caren Daniel March 11 (Reuters) - The Dow Jones Industrial index fell onMonday as shares of the world's largest planemaker tumbled aftera second deadly crash in just five months, but a jump intechnology stocks helped cap some losses and lift the broadermarkets. Apple IncAAPL.O rose 2.3 percent, and was the biggestboost to the benchmark S&P 500 and Nasdaq indexes after Bank ofAmerica Merrill Lynch upgraded the iPhone maker's shares to"buy" from "neutral".
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urn:newsml:reuters.com:*:nL3N20Y23F American Airlines Group IncAAL.O , Southwest Airlines CoLUV.N and JetBlue Airways CorpJBLU.O were trading downbetween 0.3 percent and 2.5 percent. Their losses pushed the Dow Jones Airlines index .DJUSAR 0.47 percent lower. urn:newsml:reuters.com:*:nUSNBEEFR2 This comes on the heels of data from last week that showedU.S.
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6599.0
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2019-03-11 00:00:00 UTC
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Retail Sales Improve, Boeing (BA) Weighs on Dow
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AAL
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https://www.nasdaq.com/articles/retail-sales-improve-boeing-ba-weighs-dow-2019-03-11
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Monday, March 11, 2019
Pre-market futures on the Nasdaq and S&P 500 this morning are up slightly to start a new week, though the Dow is expected to open 150 points below its Friday close. The reason, at least initially, is that heavily weighted component The Boeing Company BA has taken an 11% sell-off as of this hour, following the second crash of its 737 MAX in the past 6 months.
Over the weekend, all 157 people died aboard a Boeing 737 MAX plane that crashed in Addis Ababa, Ethiopia. This tragedy was chillingly familiar to a similar type crash in Indonesia last October, when 189 people perished. Following the Indonesian crash, there were no augmentations in Boeing's 10-K filing relating to the Boeing 737 MAX model.
Boeing's 737 is the world's most successful aircraft in terms of sales. The MAX version was a more recent update that made the planes more fuel efficient. Besides Boeing, airline companies that have recently invested in the plane are all down in today's pre-market, including Southwest LUV , American AAL and United Continental UAL . In fact, all Chinese, Indonesian and Cayman Islands 737 MAX planes have now been grounded until further notice.
For Boeing's part, today's pre-market drop has given back all the 9.3% gains the stock has made since Christmas Eve 2018. The aircraft giant had been helping the Dow reach higher highs thus far in 2019, and shares had carried a Zacks Rank #1 (Strong Buy) as of Friday's close. We expect analysts to revise estimates in the coming week.
January Retail Sales (Delayed)
A new headline on Retail Sales for the month of January (delayed by the long U.S. government shutdown) outperformed expectations: +0.2% from the +0.1% estimate. This is also much better than December's downwardly revised -1.6% headline.
Stripping out ex-auto sales, we see this figure rise to +0.9%, ex-autos & gas +1.2%. The control figure was 1.1%, and this is significant because the December control number - that which strips away near-term volatility - was revised down from the original -1.7% to -2.3% in today's read. This constitutes the worst monthly control number since the year 2000.
Basically, the "wealth effect" - how an individual's or a household's investment performance causes them to spend - hit the Retail Sales figures in December hard, as a tumbling stock market dampened consumer sentiment during the holiday shopping season. Now the the market has regained some of its footing (with help from a more dovish stance thus far from the Fed regarding interest rates), we are seeing Retail Sales numbers responding in kind.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
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The Boeing Company (BA): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Besides Boeing, airline companies that have recently invested in the plane are all down in today's pre-market, including Southwest LUV , American AAL and United Continental UAL . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Monday, March 11, 2019 Pre-market futures on the Nasdaq and S&P 500 this morning are up slightly to start a new week, though the Dow is expected to open 150 points below its Friday close.
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Besides Boeing, airline companies that have recently invested in the plane are all down in today's pre-market, including Southwest LUV , American AAL and United Continental UAL . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. January Retail Sales (Delayed) A new headline on Retail Sales for the month of January (delayed by the long U.S. government shutdown) outperformed expectations: +0.2% from the +0.1% estimate.
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Besides Boeing, airline companies that have recently invested in the plane are all down in today's pre-market, including Southwest LUV , American AAL and United Continental UAL . Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. January Retail Sales (Delayed) A new headline on Retail Sales for the month of January (delayed by the long U.S. government shutdown) outperformed expectations: +0.2% from the +0.1% estimate.
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Click to get this free report Southwest Airlines Co. (LUV): Free Stock Analysis Report United Continental Holdings, Inc. (UAL): Free Stock Analysis Report American Airlines Group Inc. (AAL): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report To read this article on Zacks.com click here. Besides Boeing, airline companies that have recently invested in the plane are all down in today's pre-market, including Southwest LUV , American AAL and United Continental UAL . Over the weekend, all 157 people died aboard a Boeing 737 MAX plane that crashed in Addis Ababa, Ethiopia.
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