During a summer period that has seen stocks not do much of anything, a midday sell-off had some taking notice on Thursday.Read More »
The Jeff Bezos empire is massive. It encompasses not just e-commerce, but also news organizations, robotics companies and coupon sites. Oh, and ever heard of Google, Airbnb or Uber? Jeff Bezos is an investor in those companies, too. Bezos is the third-richest person in the world, trailing only Bill Gates and Warren Buffett, according to the Forbes Billionaires List. With a net worth of $84.7 billion, 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 vehicles. Amazon AMZN, +0.87% has made its own acquisitions, including the recent $13.7 billion deal for Whole Foods
Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. The A380 build rate will be reduced to eight jets a year in 2019, down from 15 this year and 28 in 2016, Airbus said Wednesday. “Even if we should get another order before the end of the year that will not change the needle on our rate decision, except if we would get an unexpectedly high order, Chief Executive Officer Tom Enders told reporters. As the A380 struggles for survival, Airbus faces a host of issues with other models that it’s relying on for future earnings.
Yesterday, Boeing (BA) posted its biggest gain since October 2008, pushing it to a new all-time high. So what comes next? Upgrades, of course! And it's not just one upgrade for Boeing, it's four. Boeing's shares were upgraded by RBC, Credit Suisse, BofA Merrill Lynch, and Goldman Sachs. The timing, of course, leaves much to be desired, but RBC's Matthew McConnel and Wojciech Majerczak acknowledge their mistake in their upgrade: We are capitulating on our Underperform rating as Boeing executes well on cash flow, BCA margins, and the production ramp on the 737 and transition to the MAX. Valuation is elevated vs historical averages but we cannot make an argument for mean reversion given strong recent