Boeing, IMAX, Hilton: Trending Tickers
Boeing (BA) stock falls Wednesday morning after the aerospace developer slashed delivery projections for its 737 Max jet in its earnings miss. IMAX Corporation (IMAX) boasts a third-quarter earnings beat, citing summer blockbuster trends to have driven year-over-year growth. Lastly, Hilton Hotels (HLT) tops Wall Street expectations, while warning on its outlook.
Yahoo Finance Live takes a closer look at several stocks after companies reported third-quarter earnings.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Video Transcript
- Let's take a look at how things are shaping up so far. And as you take a look at the major averages, we're seeing a bit of a mixed picture. Some pressure here across the board as yields push higher once again.
We also see earnings weighing on the markets here this morning. We got a couple of big earnings reports out from Google and from Microsoft earlier today that was weighing on the broader markets. When you take a look at the S&P 500 right now on your screen, off just about 1%.
Meanwhile, Boeing and Microsoft giving the Dow just a bit of a boost here. Investors on edge as more big tech companies do release their results. We also want to take a look at shares of Boeing this morning on the move now. They popped initially following this report.
Now, third quarter miss on both the top and bottom lines, cutting their delivery forecast for its 737 MAX narrow-body jet due to ongoing production issues. On the bright side, though, the company reiterated its expectations for 2023, free cash flow of $3 billion to $5 billion despite manufacturing problems.
- And IMAX surging this morning after reporting a strong year over year growth in its third quarter with revenue up 51% gross, margins up 98%, and adjusted EBITDA up 174%. This was the company's second highest grossing quarter of all time, driven by successes at the box office from "Oppenheimer," "Mission Impossible 7," and "Indiana Jones."
- And Hilton shares are on the move today after they reported their earnings, results that beat the Street's expectations revenue jumped nearly 13% from last year. But the hotel chain gave a stark warning for the current quarter, expecting quote, "meaningful" uptick in earnings.
