Boeing: Capitulation Time Again

Yesterday, Boeing (BA) posted its biggest gain since October 2008, pushing it to a new all-time high. Boeing's shares were upgraded by RBC, Credit Suisse, BofA Merrill Lynch, and Goldman Sachs. This was based on our analysis of Boeing historical results that showed it generates its best margins when revenue is weighted towards planes that have been in production for many years, and margins have typically come under pressure when it introduces new models, as we expected with the 737 MAX and, eventually, 777X. While nearly all of the ramp on the MAX is yet to come, Boeing’s smooth transition to the MAX so far shows that this is nothing like the prior derivative programs (737 Classic to 737NG and 747-400 to 747-8) that drove significant operating issues for Boeing in the past.

All the companies in Jeff Bezos’s empire, in one (large) chart

Jeff Bezos is now the richest person in the world. And he’s got a massive empire to go with that title. His empire encompasses not just e-commerce, but also news organizations, robotics companies and coupon sites. Oh, and ever heard of Google, Airbnb or Uber? Bezos is an investor in those companies, too. On Thursday, Bezos’s net worth hit $90.7 billion, propelling him past Bill Gates to become the richest person in the world, according to the billionaire rankings done by Forbes and Bloomberg. On his way to that title, Bezos has made a number of investments and acquisitions. Here is a snapshot of his empire, as compiled by Visual Capitalist: Bezos has made the acquisitions through a variety of

• 
  How Amazon's Jeff Bezos went from the son of a teen mom to the richest person in the world

  CNBC
• 
  Actually Jeff Bezos, I'm the world's wealthiest man if you count how rich I am in love and also my drug empire

  Mashable

Average US mortgage rates fall for 2nd straight week

Long-term U.S. mortgage rates fell this week for the second week in a row, despite the Federal Reserve's efforts to lift borrowing costs. Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages slid to 3.92 percent from 3.96 percent the previous week. The rate on 15-year, fixed-rate home loans, popular with homeowners who are refinancing their mortgages, eased to 3.2 percent from 3.23 percent last week.

• 
  U.S. 30-year mortgage rates fall for second week

  Reuters
• 
  Mortgage rates slide lower as Fed considers unwinding its balance sheet

  Washington Post