Dow Jones Today Leads, Stocks Climb As Jobless Claims Hit Pandemic Low; TSM Earnings Lift Chip Stocks; UnitedHealth Soars

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Investor's Business Daily 14 October, 2021 - 09:02am 25 views

"While our investigation is ongoing, we have determined that this does not present an immediate safety of flight concern for the active in-service fleet," a company spokeswoman said in an emailed statement.

Undelivered aircraft would be reworked as needed, Boeing said, adding that any fleet actions would be determined through its normal review process and confirmed with the U.S. Federal Aviation Administration.

The FAA did not immediately respond to Reuters request for comment.

The defect is on 787s built over the past three years, the WSJ report said, citing people familiar with the matter.

This comes as the planemaker continues to grapple with structural defects in its 787 that have caused it to cut production and halt deliveries.

Last month, the Journal had reported that Boeing's delivery of 787 Dreamliners will likely remain halted until at least late October as the U.S. Federal Aviation Administration has rejected the company's recent proposal to inspect them.

Shares of the company were down 0.4% at $220.86 in premarket trade.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D'Silva)

Boeing said Thursday it will rework undelivered 787 Dreamliner planes after uncovering another defect on the jet, which has been halted for deliveries since May.

Global aircraft manufacturer Boeing (BA) announced third-quarter deliveries across its commercial and defense operations. The company made progress and strived to maintain stability throughout its operations during the quarter, with a primary objective of safety and quality. However, shares fell almost 1.3% to $223.57 on October 12, as the company reported weaker-than-expected deliveries. With overall travel rebounding, Boeing delivered a total of 85 commercial jets in Q3, up from 79 jets delive

The problem involves certain titanium parts that are weaker than they should be on 787s built over the past three years, the latest production slip-up to delay aircraft deliveries and draw increased U.S. government scrutiny.

Bitoin mining has so far borne the brunt of China’s crackdown.

The Boeing Co. stepped up the delivery pace of its 737 MAX in September, as the rebound of its narrow-body jet program helped offset continued struggles on other programs in the third quarter. According to new order and delivery data from the company, Boeing handed over 26 MAX aircraft in September, up from 14 in August, to finish the third quarter with 66 737 deliveries. The 737 is the most important individual aircraft program to the Wichita economy, as locally based Spirit AeroSystems Inc. builds around 70% of the structure on the jet.

Desmond Shum on his ex-wife's sudden and mysterious reappearance, and the future of Xi's China

Internal documents have shown that Amazon India is copying sellers’ products and rigging the search result, undermining the efforts of sellers on its platform.

Boeing delivers 85 jets in the third quarter, up from 79 aircraft in the second quarter. Wall Street, however, was expecting more than 100 planes to be shipped.

Penn State DT PJ Mustipher has been named a semifinalist for the Rotary Lombardi Award

Reddit has launched a new feature called Predictions, which can make polls more fun by giving you tokens to bet with.

(Bloomberg) -- Glencore-backed U.K. gas shipper CNG Group Ltd. will no longer provide gas to its utility clients, a move that threatens to prompt a raft of further failures in the British energy market.Most Read from BloombergWhat Comes After GE’s 129 Years of Greenhouse GasThe World’s Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhat the Front Line of the U.S. Abortion Fight in Kentucky Looks Like NowCNG supplies wholesale gas to utilities that then sell it to households. The U.

Some 1.7 million people in Auckland are under strict stay-home orders until Monday as officials look to stamp out the highly infectious Delta outbreak, the first major spate of community cases in the country since early in the pandemic. Deputy Prime Minister Grant Robertson said the surge in case numbers in Auckland was not unexpected "but they are rising more quickly," and blamed illegal home gatherings for the spike. "Now is not the time for complacency," Robertson said during a media conference in Wellington, urging residents in Auckland to strictly follow the level-three rules, under which most people are required to stay at home unless they have urgent reasons to go out.

James Franklin announced PJ Mustipher is out for the rest of the season.

Investors are in the market to make a profit, and that means finding the stocks with proven growth potential. Old Wall Street hands will always tell you that past performance cannot guarantee future success, which is true, but it’s always a good place to start. Stocks that have already brought in returns, and are showing real and sustained gains over prolonged periods, are a logical place to look for tomorrow’s winners. And this brings us to the stocks we’re looking at today. These have all show

“A normal dad might have an old muscle car he tinkers with on the weekend, but my dad had a Boeing 720.” Twitter user Chris Croy, quoted above, is stuck somewhere midway. In a Twitter thread posted on Oct. 12, Croy, based in St Louis, Missouri, narrated his version of what happened, based on “news reports, public records, or my mom.”

Earlier this month, the world's largest farm equipment maker and the UAW union reached an agreement after weeks of negotiation on wages and other benefits, but 90% of the union's workers voted against the deal. "Pickets have been set up, and our members are organized and ready to hold out and fight for a contract they believe meets their needs," Ron McInroy, director of UAW Region 4, said on Thursday. Separately, Deere said it remained committed to reaching a new agreement, adding that it had not yet estimated when it would complete negotiations.

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Dow jumps more than 400 points after better-than-expected earnings reports

CNBC 13 October, 2021 - 05:05pm

U.S. stocks rose Thursday after better-than-expected earnings reports from Bank of America and other major companies.

The Dow Jones Industrial Average jumped about 470 points, or 1.4%. The S&P 500 gained 1.4% and the Nasdaq Composite added 1.4%.

Third-quarter earnings season continued Thursday with several big banks and Dow members reporting financial results before the bell.

Eight members of the S&P 500 reported earnings this morning and all eight beat earnings-per-share expectations from Wall Street.

"So far, the overwhelming majority of large US companies have been able to generate higher profitability despite rising labor costs because sales growth has been so robust. We expect the same to be true in 3Q," Mark Haefele, chief investment officer of UBS Global Wealth Management, said in a note Thursday.

Bank of America, Morgan Stanley, Citigroup and Wells Fargo saw their shares rise after beating earnings expectations.

Dow constituent UnitedHealth also gained after the companies' quarterly results topped estimates and was the top performer on the blue-chip average.

Walgreens Boots Alliance shares gained after the drugstore chain beat earnings expectations. The company announced it would become majority owner of VillageMD with a $5.2 billion investment.

Meanwhile, falling rates boosted technology stocks. The benchmark U.S. 10-year Treasury yield dipped, typically benefiting high-growth names as lower rates lift the value of companies' future earnings.

Big Tech stocks Microsoft, Apple and Facebook each rose at least 1%, while and Google-parent Alphabet gained more than 2%, providing the market with support.

Caterpillar was among the Dow's biggest gainers after Cowen initiated coverage of the equipment maker with an outperform rating. UPS rose as one of the S&P 500's top performers after an upgrade from Stifel, which cited upcoming holiday demand.

A lower-than-anticipated number of weekly jobless claims added to the positive market sentiment. Initial unemployment insurance claims last week totaled 293,000 – the first time the tally fell below the 300,000 level during the pandemic-era.

"We're seeing fresh and welcome signs of improvement in the job market," said Bankrate's Mark Hamrick.

September's producer price index was lighter than expected, also helping sentiment. Wholesale prices rose 0.5% from the month prior versus the 0.6% Dow Jones estimate.

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