Tag Archives: Earnings reports

Twitter shares jump on rise in user numbers, revenue

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Shares in Twitter have surged after the social media company said its revenue growth and user numbers exceeded forecasts

Shares in Twitter jumped Thursday after the social media company said its revenue growth and user numbers exceeded forecasts in the latest quarter, though profit fell.

The San Francisco-based tech company said that fourth-quarter net earnings fell to $119 million, or 15 cents per share. That’s down from $255 million, or 33 cents, in the same period a year earlier.

The short messaging service posted revenue of $1.01 billion in the period, 11% higher than a year ago, and the first time that it surpassed the $1 billion mark.

The company reached a “new milestone” for revenue in the quarter, Chief Financial Officer Ned Segal said, “reflecting steady progress on revenue product and solid performance across most major geographies, with particular strength in U.S. advertising.”

The company had 152 million daily users in the latest quarter, up from 145 million in the previous quarter.

While the net income figure was below analyst forecasts for $231 million, other figures cheered investors, sending shares up a sharp 16% in early trading.

The sales figure was on the upper end of market expectations, according to data provider FactSet. And the number of active daily users was above the forecast for 147 million.

Last year, Twitter started disclosing its daily user base – that is, users who log into the site at least once a day and see ads on the platform. The daily metric has replaced its monthly user count, which Twitter said it will no longer disclose. Other companies, such as Facebook, give both daily and monthly counts.

Twitter executives said the company is making it a priority to clean up its platform.

“We’ll increase healthy public conversation,” CEO Jack Dorsey said on a call with analysts. “Misleading information is probably the biggest challenge facing us and our industry. This will be a key focus for us.”

Tech companies have been stepping up their efforts to remove misinformation, abuse, hate speech and spam. In Twitter’s latest move, announced earlier this week, the company said it will start labeling or even taking down doctored or manipulated photos, audio and videos designed to mislead people.

For the year as a whole, Twitter posted net income of $1.47 billion on revenue of $3.46 billion. For the current quarter, Twitter forecasts revenue to come in between $825 million and $885 million.

Dorsey said he wanted Twitter’s staff to be less focused on San Francisco, in an indication that he thinks the company should look more to fast-growing international markets.

“Our concentration in San Francisco is not serving us any longer,” Dorsey said. “We’ll strive to be a far more distributed workforce which will help us improve our execution.”

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For all of AP’s tech coverage, visit: https://apnews.com/apf-technology

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US stocks rise after signing of ‘Phase 1’ trade deal

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Stocks are rising in afternoon trading Wednesday following the signing of a preliminary trade deal between the U.S. and China

NEW YORK —
Stocks rose in afternoon trading on Wall Street Wednesday after the signing of an initial trade deal between the U.S. and China.

President Donald Trump and China’s chief negotiator, Liu He, signed the “Phase 1″ deal before a group of corporate executives and press at the White House. The pact eases some sanctions on China. In return, Beijing has agreed to step up its purchases of U.S. farm products and other goods. The initial agreement is a key step toward de-escalating an 18-month long trade conflict between the world’s largest economies.

Both nations will have to deal with some of the more contentious trade issues as they move ahead with negotiations. Punitive tariffs will remain on Chinese goods as talks continue.

Health care stocks accounted for much of the market’s gains. Several health insurers rose as investors cheered a solid fourth-quarter earnings report from UnitedHealth Group.

Technology companies also climbed. The sector is reliant on China for sales and supply chains and benefits from better trade relations. Microsoft rose 0.8% and Advanced Micro Devices gained 0.9%.

Banks were broadly lower after Bank of America reported weaker profits. Energy stocks also fell along with the price of crude oil.

With the trade issue entering a new stage, Wall Street is focusing on the rollout of corporate earnings reports over the next few weeks.

KEEPING SCORE: The S&P 500 index was up 0.2% as of 1:11 p.m. Eastern time. The Dow Jones Industrial Average rose 92 points, or 0.3%, to 29,031. If the gains hold, the Dow would have its first close above 29,000 points. The Nasdaq rose 0.2%. The Russell 2000 index of smaller company stocks rose 0.4%.

Markets in Europe were mostly lower.

ANALYST’S TAKE: Trade fears have largely subsided and investors are focusing on corporate earnings, especially the picture executives provide for the rest of the year.

“If we hear a better tone this earnings season, more confidence in guidance, that could encourage investors,” said Jeffrey Kleintop, chief global investment strategist at the Schwab Center for Financial Research. “That might even outweigh what the trade deal actually looks like.”

OFF THE MARK: Target slumped 7.4% after a disappointing holiday shopping season prompted the retailer to cut its forecast for a key sales measure in the fourth quarter. The company said weak sales of electronics, toys and home goods crimped sales growth to just 1.4% in November and December.

WANING INTEREST: Bank of America fell 2.1% after reporting a drop in fourth-quarter profits because of the rapid decline of interest rates in late 2019. The bank is particularly impacted by movements in interest rates since it sells a range of consumer banking services, and its balance sheet is more aligned with short-term bonds and other securities.

HEALTHIER RESULTS: UnitedHealth Group rose 3.1% after the nation’s largest health insurer reported surprisingly good fourth-quarter profits. The company covers more than 49 million people and its revenue rose 4% on a mix of insurance premiums and growth from urgent care and surgery centers.

Other health insurers also moved higher. Anthem gained 2.1%, Cigna rose 1.8% and Humana climbed 2.6%.

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AP Business Writer Damian J. Troise contributed.

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Amazon’s revenue falls as quicker transport prices soar

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Amazon’s push for quicker supply is hurting its income.

The net retailer mentioned third-quarter revenue fell 26% from a 12 months in the past, lacking Wall Road expectations. Its inventory sunk 6.5% in after-hours buying and selling.

Amazon is shifting to chop its supply time in half, to in the future as a substitute of two, for Prime members who pay $119 a 12 months. The corporate mentioned that it is costing the corporate about $1.5 billion to make the change, almost double what it anticipated.

“It is a massive funding, and it is the fitting long-term resolution for patrons,” mentioned Amazon CEO Jeff Bezos, in a press release.

The Seattle-based firm reported internet earnings of $2.1 billion, or $4.23 per share, within the quarter ending Sept. 30. That is 36 cents beneath what analysts anticipated, based on FactSet.

Its income, nevertheless, beat expectations, rising 24% to $70 billion.

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Amazon’s revenue falls as sooner delivery prices soar

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Amazon’s push for sooner supply is hurting its income.

The net retailer mentioned third-quarter revenue fell 26% from a 12 months in the past, lacking Wall Road expectations. Its inventory sunk 6.5% in after-hours buying and selling.

Amazon is transferring to chop its supply time in half, to at some point as a substitute of two, for Prime members who pay $119 a 12 months. The corporate mentioned that it is costing the corporate about $1.5 billion to make the change, practically double what it anticipated.

“It is a massive funding, and it is the suitable long-term resolution for purchasers,” mentioned Amazon CEO Jeff Bezos, in an announcement.

The Seattle-based firm reported web revenue of $2.1 billion, or $4.23 per share, within the quarter ending Sept. 30. That is 36 cents under what analysts anticipated, in response to FactSet.

Its income, nonetheless, beat expectations, rising 24% to $70 billion.

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Lyft posts losses regardless of income development, improves outlook

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Lyft continued to bleed cash in its second quarter however says it expects to stem a few of these losses, elevating its outlook for 2019.

The ride-hailing firm on Wednesday posted income of $867.Three million, up 72% from the identical time final 12 months.

However the San Francisco-based firm misplaced $644.2 million within the quarter, which was worse than the $445 million loss that analysts polled by FactSet anticipated.

Greater than a 3rd of the loss, or $296.6 million, got here from stock-based compensation Lyft paid out after its preliminary public providing in March. The corporate additionally misplaced $141.1 million on account of altering necessities for liabilities for insurance coverage.

Even so, the corporate improved its outlook for 2019. Lyft now predicts it should lose between $850 million and $875 million after bills resembling curiosity, taxes, depreciation and amortization in 2019, an enchancment from the earlier predicted lack of $1.15 billion to $1.175 billion.

With the revised steerage, the corporate estimates that 2018 might have been the height loss 12 months, and expects to lose much less cash in 2020, mentioned Brian Roberts, chief monetary officer, in a convention name with buyers.

“On account of our sturdy high line development and an bettering market setting we generated important working leverage,” mentioned Logan Inexperienced, CEO, on the convention name. “This was a milestone quarter on our path to profitability.”

The rollout of Shared Saver, which gives riders a extra inexpensive experience in the event that they stroll a brief distance to the automobile, led to enhancements in system-wide effectivity and monetization, Inexperienced mentioned. The corporate additionally has been providing public transit info in its app in eight markets, which could be mixed with Lyft’s shared bikes or scooters, he added.

Lyft has been investing to develop its share of its extra worthwhile choices resembling premium, enterprise and airport rides, Roberts mentioned.

“We’re centered on driving worthwhile development, not development in any respect prices,” Roberts mentioned.

The corporate’s development in lively riders — and income per lively rider — was higher than anticipated, which drove its income development, Inexperienced mentioned. Lyft’s income per lively rider was $39.77, up 22% in comparison with the identical time final 12 months.

The quarter turned out “a lot better than feared,” mentioned Daniel Ives, managing director of fairness analysis at Wedbush Securities Inc. “The corporate is exhibiting the place they’re slicing bills relative to expectations, and that is necessary to placing them on the eventual path to profitability,” he mentioned.

Uber, which is Lyft’s fundamental and far bigger rival, is ready to report earnings Thursday.

Lyft’s inventory value has fallen sharply since its debut. Its shares rose 3% to about $63 in after-hours buying and selling Wednesday, which is down 13% from its IPO value of $72.

It was the primary of the most important ride-hailing firms to go public, beating Uber to its inventory market debut. Early enthusiasm amongst buyers shortly fizzled, together with the inventory value. The corporate has not turned a revenue or demonstrated a path to profitability. Nonetheless, its losses have been steeper final quarter, when the corporate was hit with extra bills from inventory compensation associated to its IPO.

Its adjusted web loss, after accounting for the inventory compensation, insurance coverage change and different bills, widened to $197.Three million, from the $176.5 million adjusted web loss it posted throughout the identical quarter final 12 months.

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Kraft Heinz takes one other $1 billion hit, shares plunge

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Kraft Heinz launched its second quarter earnings report delayed by accounting issues and revealed continued fall-out associated to these points on high of weak gross sales.

The corporate that makes Oscar Mayer scorching canine, Kool-Help, Heinz ketchup and Velveeta took prices in extra of $1 billion within the first half due partially to the “perceived threat” to the worth of the corporate throughout a really tough 12 months wherein its inventory has been lower in half.

Shares of The Kraft Heinz Co. tumbled one other 14% to an all-time low Thursday.

The corporate, created in a 2015 merger crafted by billionaire Warren Buffett and Brazilian personal fairness agency 3G Capital, had been making an attempt to regain its footing and comply with huge modifications in what individuals eat and the way they understand the corporate’s most iconic manufacturers.

Then, early this 12 months, Kraft Heinz disclosed an investigation into its accounting practices by federal regulators and stated it will slash the worth of its Oscar Mayer and Kraft manufacturers by greater than $15 billion.

Whereas firm executives had been cleared within the investigation which targeted on a comparatively small variety of individuals in its procurement operations, Kraft Heinz was pressured to regulate previous outcomes reported to the Securities and Alternate Fee. In Could, it restated its monetary outcomes for the years 2016, 2017, and for the primary 9 months of 2018.

That harm continued to play out within the quarterly outcomes launched Thursday.

Kraft recorded prices of $474 million within the quarter, “primarily pushed by the applying of a better low cost charge to replicate the markets’ perceived threat” to the corporate’s worth.

It took further prices of $744 million within the first half associated to its export and refrigerated companies, amongst others.

Revenue in the course of the first half of 2019 dropped virtually 55%.

“The extent of decline we skilled within the first half of this 12 months is nothing we must always discover acceptable shifting ahead,” stated CEO Miguel Patricio. “We have now vital work forward of us to set our strategic priorities and alter the trajectory of our enterprise.

Kraft earned $449 million, or 37 cents per share, for the three months ended June 29. A 12 months in the past it earned $754 million, or 62 cents per share.

Stripping out the $474 million impairment cost associated to writing down the worth of manufacturers together with Maxwell Home and Lunchables and different objects, earnings had been 78 cents per share, which was three cents higher than Wall Road had anticipated, based on a survey by Zacks Funding Analysis.

Income was $6.41 billion, down from $6.69 billion a 12 months earlier, as gross sales declined in all areas. That quantity fell in need of projections from business analysts.

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Components of this story had been generated by Automated Insights (http://automatedinsights.com/ap) utilizing information from Zacks Funding Analysis. Entry a Zacks inventory report on KHC at https://www.zacks.com/ap/KHC

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Shares transfer greater as buyers push by means of commerce nervousness

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Shares marched broadly greater on Wall Avenue Thursday afternoon as buyers no less than quickly put aside considerations in regards to the heated commerce warfare between the U.S. and China that roiled the market earlier within the week.

The good points positioned the market on observe for its third straight acquire, although the S&P 500 was nonetheless down for the week.

Traders snapped up expertise shares in a sign that they’re extra prepared to tackle threat after a number of days of fleeing to safer holdings, similar to bonds. Microsoft rose 2.1% and Oracle gained 2.5%.

Banks led monetary shares greater as bond yields gained floor following a pointy decline on Wednesday. The sector additionally received a key enhance from American Worldwide Group after the insurer reported stable second quarter monetary outcomes.

Journey web site firm Reserving Holdings rose 6.5% and lifted consumer-oriented shares.

In one other signal that buyers have been feeling extra bullish, safe-play sectors like utilities and makers of client merchandise lagged the market. Traders often shun these sectors once they need to tackle extra threat.

Bond costs fell. The yield on the 10-year Treasury rose to 1.75% from 1.72% late Wednesday. The yield rose after a weekly authorities report on unemployment claims got here in higher than economists had anticipated.

A pointy spike in bond costs on Wednesday signaled that buyers are rising more and more nervous in regards to the prospect of the commerce dispute between the world’s two largest economies hurting the worldwide financial system.

Traders targeted on a gentle circulation of largely stable company earnings on Thursday, rewarding corporations that beat Wall Avenue forecasts. Albemarle rose 7.2% and Viacom rose 4.4%. Corporations throughout the S&P 500 index are almost completed reporting earnings for his or her most up-to-date quarter and the outcomes have been a lot better than buyers initially predicted.

KEEPING SCORE: The S&P 500 index rose 1.5% as of two:04 p.m. Jap time. The Dow Jones Industrial Common gained 286 factors, or 1.1%, to 26,293. The Nasdaq composite climbed 1.8%. The Russell 2000 index of smaller corporations added 1.9%.

Main indexes in Europe notched stable good points.

TRADE WAR RECAP: President Donald Trump spooked the markets final week when he threatened to impose 10% tariffs on all Chinese language imports that have not already been hit with tariffs of 25%. China retaliated on Monday and allowed its forex, the yuan, to weaken towards the U.S. greenback.

China stabilized the yuan on Tuesday and that helped raise U.S. shares following their worst day of the 12 months. However, central banks in New Zealand, India and Thailand reduce key rates of interest on Wednesday, sending U.S. shares into an early dive earlier than recovering on the finish of the day. Main U.S. indexes are down about 1% for the week.

BUMPY RIDE: The final couple of weeks really feel much more topsy-turvy following the months of relative calm that buyers had been having fun with. Earlier than Monday’s 3% drop for the S&P 500, they hadn’t seen a lack of even half that measurement since mid-Might.

Since this bull market started over a decade in the past, the S&P 500 has had 24 days the place it misplaced no less than 3%. That averages out to 1 each 5 months or so, however they do not occur in such an everyday trend.

As a substitute, the market tends to shift between durations of calm and sharp bursts of volatility. In 17 of the 24 occasions that the S&P 500 fell 3%, it both preceded or adopted one other such drop inside a month. So Monday’s 3% fall could be the precursor to extra, if historical past is a information.

“The foreseeable future goes to be loads of noise,” mentioned J.J. Kinahan, chief market strategist for TD Ameritrade.

The final time the inventory market had a drop of three% was on Dec. 4, when buyers have been apprehensive that the Federal Reserve was elevating rates of interest too aggressively and would mix with commerce considerations to create a recession. Nevertheless it wasn’t in isolation: It was the third such drop throughout the span of two months.

A extra excessive instance is the summer time of 2011, when the S&P 500 had 4 drops of greater than 4% in simply two weeks. Worries in regards to the European debt disaster and the first-ever downgrade of the U.S. credit standing on the time have been roiling markets world wide.

That episode additionally confirmed that massive up days will be interspersed between massive down days. That very same stretch had two days the place the S&P 500 surged greater than 4%.

REVENUE LYFT: Trip-hailing service Lyft climbed 4.5% after reporting a surge in second quarter revenue that propelled it effectively previous Wall Avenue’s second quarter monetary forecasts. The corporate, which went public in March, reported a far narrower loss than analyst’s anticipated and raised its income forecast for the 12 months.

INSURANCE BENEFIT: American Worldwide Group rose 3.7% after the insurer blew previous Wall Avenue’s second quarter revenue forecasts on sturdy underwriting and a bounce in funding earnings.

WHIPPED STOCK: Kraft plunged 9.9% after the maker of Oscar Mayer, Cool Whip and different merchandise revealed a pointy revenue plunge within the first half of the 12 months and a few hefty prices. The corporate has been hurting as shoppers search for meals that they understand is more healthy or more energizing. The corporate needed to write down the worth of a few of its manufacturers and revealed a further subpoena from the Securities and Alternate Fee because it faces scrutiny over its procurement operations.

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AP Enterprise Author Stan Choe contributed to this report.

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Nissan to slash 12,500 jobs to chop prices, obtain turnaround

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Nissan says it’s slashing 12,500 jobs or about 9% of its world workforce in an effort to chop prices and obtain a turnaround, as its earnings tumble.

Nissan Motor Co. reported the job cuts Thursday with its fiscal first quarter earnings assertion.

Firm officers didn’t instantly give particulars on a regional breakdown or how the job cuts will likely be achieved.

The Japanese automaker is struggling to revive its model picture and revive development following the arrest of former Chairman Carlos Ghosn in November for alleged monetary misconduct. He says he’s harmless. He’s awaiting trial in Japan.

Yokohama-based Nissan reported its world car gross sales fell 6% in April-June, in comparison with the identical interval the 12 months earlier than.

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Boeing put up lack of almost $Three billion in 2Q

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Boeing’s CEO says the corporate will take into account quickly shutting down manufacturing of the 737 Max if the aircraft’s return is considerably delayed past the corporate’s October forecast.

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The remark by Chairman and CEO Dennis Muilenburg underscores the uncertainty swirling across the firm and its best-selling aircraft, which has been grounded since March after two lethal crashes.

Boeing reported Wednesday that it suffered its greatest quarterly loss in no less than twenty years, almost $Three billion, because it absorbed monetary harm attributable to the Max. Income plunged 35% after Boeing halted deliveries of any new Max jets.

The large second-quarter loss was anticipated. Boeing eliminated a lot of the suspense from earnings day when it introduced final week that it could take a $4.9 billion after-tax cost for the Max. The cost was calculated from Boeing’s estimate of the price of compensating airways for misplaced use of their Max planes for a number of months. It didn’t embrace Boeing’s potential legal responsibility from dozens of lawsuits filed by kin of the 346 passengers who died within the two crashes.

Boeing is updating U.S. and overseas regulators every day on its work to repair the aircraft. Primarily based on these discussions, the corporate mentioned final week that it expects the Max to renew flying early within the fourth quarter.

The Max meeting line close to Seattle has stayed open, though at a diminished charge. The corporate even hopes to spice up manufacturing progressively from the present 42 a month to 57 a month subsequent 12 months, however that assumes the aircraft will fly and Boeing will quickly resume deliveries to airways — jets have been piling up in Boeing tons since March.

“If that estimate of (an October) return to service considerably modifications, then we’ll have to think about options,” Muilenburg advised analysts. “These options might embrace completely different manufacturing charges, they might embrace a short lived shutdown of the road.”

Muilenburg’s feedback implied that the Federal Aviation Administration can evaluation the corporate’s modifications to flight-control software program in a single month. The FAA has already been analyzing a lot of Boeing’s work. An FAA spokesman mentioned the company has no preconceived timeline for returning the Max to service, and can achieve this solely when it determines that the aircraft is protected.

The grounding of Boeing’s aircraft has brought on airways together with American, United and Southwest to cancel 1000’s of flights into early November. A pause in Max manufacturing would hit Boeing meeting staff and the corporate’s suppliers, together with engine maker Normal Electrical.

The Max saga is already dinging durable-goods orders and U.S. exports.

Orders for U.S. nondefense plane and components fell 39.4% within the first 5 months of 2019, in contrast with the identical interval final 12 months, in line with Commerce Division figures. Exports of civilian plane fell 12% in that stretch, a drop of almost $2.eight billion.

Treasury Secretary Steven Mnuchin weighed in on the significance of fixing the Max, which was designed to compete with a aircraft constructed by Europe’s Airbus.

“There is no such thing as a query this is essential to us,” he mentioned on CNBC. “We compete, Boeing versus Airbus, each day.”

Chicago-based Boeing Co., which builds planes in Washington state and South Carolina, mentioned it misplaced $2.94 billion within the quarter, in contrast with a revenue of $2.2 billion a 12 months earlier. It reported an adjusted lack of $5.82 per share.

Income tumbled to $15.75 billion from $24.26 billion a 12 months earlier.

The large cost for the Max brought on the quarterly numbers to imply lower than standard. Some analysts excluded the cost from their forecast of earnings per share, whereas others didn’t, making it tough if not not possible to evaluate whether or not Boeing met, beat or fell in need of Wall Road expectations.

Boeing is working to finish modifications in flight-control software program on the 737 Max that was implicated within the deadly crashes. The corporate mentioned it’s testing the ultimate software program modifications that it’s going to undergo the FAA for approval.

Some kin of passengers who died within the crashes — one off the coast of Indonesia in October, the opposite in Ethiopia in March — have urged Boeing and regulators to scrap the aircraft. They argue that flight-control software program referred to as MCAS is a bandage meant to cowl a aircraft that was extra susceptible to aerodynamic stalls due to the bigger dimension and ahead place of its engines in comparison with earlier Boeing 737s.

Amongst these calling for ditching the aircraft are longtime shopper crusader Ralph Nader, whose grandniece died within the Ethiopia crash, and Paul Njoroge, a Canadian who advised a congressional panel this month about shedding his spouse, three kids and mother-in-law on the identical flight.

Even after the second crash, these within the airline business, together with CEOs and pilots, have by no means wavered of their certainty that the aircraft will fly once more. It has taken far longer than most anticipated, nonetheless, for Boeing to supply a repair for the flight-control system that activated when it shouldn’t have on the 2 flights that crashed.

“There may be some frustration, however the common sense I get from the membership is they do not need something rushed both,” mentioned Eric Ferguson, new president of the American Airways pilots’ union. “We are going to get that airplane again within the air when the time comes, not any sooner.”

Individually, Boeing on Wednesday introduced that the primary flight of its 777X jumbo jet might be delayed till subsequent 12 months as a substitute of late this 12 months due to issues with the Normal Electrical engines. Boeing nonetheless goals to ship the primary planes to airways in late 2020.

Boeing shares fell $11.64, or 3.1%, to shut at $361.43.

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David Koenig might be reached at http://twitter.com/airlinewriter



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US shares transfer sideways on combined bag of earnings

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U.S. shares moved sideways in noon buying and selling on Wall Avenue Wednesday as a steep decline from well being insurers counteracted sharp positive factors for expertise firms.

Company outcomes have been combined this week, although buyers are leaping on a number of the greatest performers throughout this newest spherical. It is a heavy week for monetary outcomes, with almost 150 main firms reporting outcomes by Friday. Shares have been unstable over the previous few weeks as buyers assess the outcomes to realize a greater image of the general economic system.

Whereas the broad S&P 500 index remained flat, the tech-heavy Nasdaq composite and Russell 2000 index of smaller shares are seeing stable positive factors. The Dow Jones Industrial Common fell.

Know-how shares had been the brightest spot out there. A stable earnings report from Texas Devices pushed the chipmaker’s inventory larger and made the sector the most important gainer.

Industrial shares moved broadly larger after UPS beat Wall Avenue’s monetary forecasts. The stable outcomes from the supply service counteracted steep drops from Boeing and Caterpillar, which each reported weak monetary outcomes.

Anthem sank 4.5% after the insurer reported larger prices. UnitedHealth Group misplaced 1.5%. The well being care sector fell broadly.

KEEPING SCORE: The S&P 500 index was little modified as of 12:10 p.m. Jap time.

Boeing, Caterpillar and UnitedHealth weighed down The Dow Jones Industrial Common. It fell 114 factors, or 0.4%, to 27,234.

The Nasdaq composite rose 0.2% as expertise shares led the market larger. The Russell 2000, which focuses on smaller shares, was the day’s greatest index up to now, gaining 0.3%.

CLOGGED VACUUM: Roomba maker iRobot plummeted 20% after slashing its revenue and income forecasts due to the U.S. commerce struggle with China.

BAD SEAL: Tupperware Manufacturers plunged 18% after the maker of plastic storage containers chopped its revenue forecast for the 12 months following a weak second quarter. The corporate cited decrease shopper spending in all of its areas.

GOOD CHIPS: Texas Devices rose 7.5% after stunning buyers with a stable revenue and gross sales forecast, serving to to ease issues on Wall Avenue about weak demand due to the U.S.-China commerce struggle. Chipmakers have been beneath stress due to fears that gross sales in China would really feel the brunt of tariffs and expertise restrictions.

DELIVERING RESULTS: UPS rose 7.7% as demand for next-day supply service pushed its second quarter monetary outcomes previous Wall Avenue’s forecasts. The corporate has been increasing its supply service choices to satisfy rising demand from on-line procuring.

ENERGY: Benchmark U.S. crude fell 0.6%, although vitality shares ticked larger. Chevron, Exxon and Schlumberger lead the sector’s positive factors.

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