Here's a look ahead at what will be making headlines Friday, July 28th.Read More »
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.
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
Shares of Bristol-Myers Squibb (BMY) are sinking this morning despite meeting earnings forecasts and raising the low-end of its full-year range. Bristol-Myers reported a profit of 74 cents a share, in line with analyst forecasts, on sales of $5.1 billion, ever so slightly higher than expectations for $5.09 billion. Bristol also said it would earn between $2.90 and $3.00 in 2017, up from a range of $2.85 to $3.00. Granted, the news isn't great, but Bristol's shares have dropped 6.6% to $52.31 at 9:47 a.m. today, a drop that has put its shares down 9.9% on the year. So why the outsize reaction? Blame it on AstraZeneca (AZN). Credit Suisse analyst Vamil Divan and team explain: The much anticipated