Founded in 1916, just a few years after the Wright brothers' famous Kitty Hawk flight, The Boeing Company ( BA) has grown to become one of the largest aircraft manufacturers in the world and the most well-known name in the aerospace sector and defense industry in the United States. Boeing Capital Corporation supports all three divisions by providing financing for Boeing customers. Boeing's chief financial officer and executive vice president of Enterprise Performance & Strategy, Gregory Smith, is the largest insider shareholder of the company.
Kelcy Warren, the billionaire chairman of Energy Transfer Equity LP, dismissed complaints that he unfairly benefited from a 2016 private issuance of units in one of the pipeline company’s partnerships that was tied to the failed merger with Williams Co. Unitholders, including a Pennsylvania retirement fund, contend Warren and other Energy Transfer executives engineered the $1 billion deal involving only select investors so that Warren could reap more than $200 million. “Everybody thinks this is a bad deal,’’ Warren told a Delaware judge Tuesday. But the issuance helped stabilize the U.S.’s largest pipeline operator during a shaky time in an oil market downturn, he added. Warren’s lawyers said
Airplane maker The Boeing Co. is facing heat these days for its determined stance in dealing with suppliers. Despite record orders, Boeing is getting some criticism for an initiative calling for some suppliers to cut costs, according to Bloomberg. Boeing’s Partnering for Success initiative aims to streamline the manufacturer’s supplier chain. And based on financial returns — with its shares doubling since the start of 2017 — Boeing can argue its plan is working. However, Bloomberg cites suppliers who claim Boeing is seeking 10 percent price cuts for their products. Boeing is coming off a bustling 2017. Boeing secured orders worth more than $90 billion in November alone. Among the highlights
Semiconductor stocks have been on fire in recent years, but Intel Corporation (Nasdaq: INTC) has mostly lagged behind smaller, high-growth competitors. In Intel's most recent earnings report, the company reported earnings and revenue beats and reassured shareholders that the Meltdown and Spectre vulnerabilities identified in Intel chips in January would not be a long-term concern. In fact, Intel rewarded loyal shareholders with a 10 percent dividend hike.
The Oil and Natural Gas Corp (ONGC) is set to hire international oil service giants for the first time to boost output from domestic oil fields in response to a government push to increase local supplies and cut expensive imports. ONGC, India's biggest explorer, has shortlisted U.S. oil service companies Halliburton, Schlumberger and GE subsidiary Baker Hughes to submit proposals on boosting production from two onshore fields, according to a document seen by Reuters. The three companies have until May to submit their proposals for what ONGC is calling a "production enhancement contract" for an oilfield in Assam and another in Gujarat.
The U.S. stock market only had a taste of the potential damage from higher bond yields earlier this year, with the biggest test yet to come, according to Morgan Stanley. “Appetizer, not the main course,” is how the bank’s strategists led by London-based Andrew Sheets described the correction of late January to early February. Although higher bond yields proved tough for equity investors to digest, the key metric of inflation-adjusted yields didn’t break out of their range for the past five years, they said in a note Monday.
Qualcomm (QCOM) tops our list. The chip maker is raising its bid for NXP Semiconductors (NXPI) to $44B. The Wall Street Journal reports that Qualcomm hopes the $5B increase will boost NXP shareholder support for the deal.
With the iPhone X described as the biggest step forward for smartphones since the original iPhone, the release of the special-edition device was supposed to be a watershed moment for Apple AAPL. During the company’s fiscal first quarter, Apple sold about 77.32 million total iPhones, down about 1% year-over-year and well below our consensus estimates (also read: Apple's First-Quarter iPhone Sales Drop 1%, Miss Estimates). Apple’s decision to dual announce the iPhone 8 and iPhone X was considered a gamble at the time, and given its sales figures in the ever-important holiday quarter—along with the myriad of reported production issues related to the X—that gamble does not seem to have paid off.
For Airbus SE’s second-in-command Fabrice Bregier, the delivery of the first A350-1000 model came with a bitter-sweet tinge: his last day at the European manufacturing giant after being overlooked for the top job. Bregier, 56, at least had the satisfaction of seeing the A350 through to the end of its launch phase, with the stretched -1000 model representing the culmination of a program whose production problems took some of the gloss off its sales success during his final years at the company. “I could have stayed a bit longer, but I think I am one of the top managers who has spent the longest time running Airbus,” Bregier, Airbus’s chief operating officer and the head of its main jetliner arm, said at a ceremony in Toulouse, France, after handing the plane to Qatar Airways.
Following investing strategies of billionaire investor Warren Buffett is everyone’s dream. Buffett’s Berkshire Hathaway Inc. BRK.B has added more than 100% over the last five years (as of February 15, 2018), way better than the 73% gain of the broader
At the same time, Amazon's foray is widely expected to disrupt the industry, prompting drug chains to beef up their businesses. Backed by private equity firm Cerberus Capital Management, Albertsons hopes the deal will help it become a formidable competitor to CVS Corp and Walgreens , and give its private equity owners a way to exit their decade-long investment in the grocer. Cerberus first took a stake in Albertsons in 2006 and scaled it through acquisitions including that of Safeway in 2014.
Qatar Airways CEO Akbar Al-Baker speaks about its launch of the aircraft, as well as his company's upcoming earnings report.
Customers are used to paying a little more when they visit Whole Foods, but now some shoppers will actually get cash back. On Tuesday, Amazon announced that eligible Prime members using the Amazon Prime Rewards Visa Card from Chase will earn 5% back on purchases at Whole Foods. Cardholders who are not Prime members will earn 3% back on purchases at Whole Foods.
U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a chronic shortage of houses lifted prices and kept first-time buyers out of the market. The supply squeeze and rising mortgage interest rates are stoking fears of a lackluster spring selling season. "There may be some headwinds ahead for home resales with rising mortgage costs affecting how much the buyer can afford and this could put a damper on existing home sales and take some of the wind out of the economy's sails," said Chris Rupkey, chief economist at MUFG in New York.
CFO Jamie Miller presented at two conferences Wednesday in the greater Miami area. At the corporate level GE has gone from a cash generator to a cash burner in the past two years, and that, more than any other factor, has destroyed value for GE shareholders.
Shares of Facebook FB gained more than 1.3% in early morning trading hours Wednesday after the company agreed to a new deal with ICE, a pan-European online rights hub. ICE described the agreement as a “landmark” deal, and it marks the social media behemoth’s first partnership with an online music licensing firm. The deal allows Mark Zuckerberg’s company to license these files on Facebook, Instagram, Oculus, and Messenger.
Transocean Ltd. RIG posted narrower-than-expected loss per share in the fourth quarter of 2017. The offshore driller’s adjusted loss per share in the quarter came in at 24 cents compared with the Zacks Consensus Estimate of a loss of 27 cents. While investors should note that the company has not missed estimates in the past 19 quarters, Transocean reported an adjusted loss per share in the quarter under review, which compares unfavorably with adjusted earnings of 63 cents a share in the prior-year quarter.
Here are the charts of the day for Tuesday February 20, 2018. Rite Aid (RAD): Shares soaring in early trade. Privately-held Albertsons plans to buy the rest of Rite Aid that isn’t being sold to Walgreens Boots Alliance. The combined companies would be
The Trump administration Tuesday cleared the way for a lower-cost, limited alternative to the comprehensive individual medical plans required under former President Barack Obama's health law. Proposed regulations from the administration would allow health insurers to sell individual consumers so-called "short-term" policies that can last up to 12 months, have fewer benefits, and lower premiums. The plans would come with a disclaimer that they don't meet the Affordable Care Act's consumer protections, such as guaranteed coverage, or the requirement to offer robust benefits.
A judge on Tuesday denied AT&T Inc's request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc . The decision is a potential setback to AT&T's plan to argue in an upcoming trial that the department's decision to oppose the acquisition was politically motivated, perhaps spurred on by Trump's public criticism of the deal and his frequent attacks on Time Warner's CNN.
A stock’s Price-to-Sales ratio reflects how much investors are paying for each dollar of revenues generated by the company. If the Price-to-Sales ratio is 1, it means that investors are paying $1 for every $1 of revenues generated by the company. Thus, a stock with a lower Price-to-Sales ratio is a more suitable investment versus a stock with a high Price-to-Sales ratio.
OPEC and non-OPEC oil producers, including Russia, will discuss extending their cooperation for many more years when they meet in June as they seek to avoid major market shocks, the United Arab Emirates' energy minister told Reuters. Suhail al-Mazroui, who holds OPEC's presidency this year, said leaders of the UAE, OPEC's biggest producer Saudi Arabia and non-OPEC member Russia support extending energy cooperation beyond 2018.
More student loan borrowers have bigger loans and they’re struggling to repay them. The share of student loan borrowers owing more than $50,000 jumped from just 2% in 1990 to 17% by 2014, according to a new paper published by The Brookings Institution. The paper, authored by Adam Looney, a former Treasury Department official and Constantine Yannelis, a finance professor at New York University’s Stern Business School, also found that borrowers are having trouble repaying the debt.
Toyota Motor Corp, Asia’s No.1 carmaker, has found a way to make electric vehicles (EVs) more affordable and less vulnerable to shortages in supply of the key elements needed to produce the rechargeable batteries that power them. The key for such new wave of EVs is a magnet for electric motors developed by the Japanese firm, which halves the use of a rare earth called neodymium and eliminates the use of others called terbium and dysprosium, the company revealed on Tuesday. In their place, Toyota will use the more abundant rare earths lanthanum and cerium, which also cost about 20 times less than neodymium.