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93The Boeing
$BA (+1,21%)
Starliner could make a cargo-only flight to the ISS in order to reduce the cost of crew certification.
So far Boeing losses of 1,85 billion US dollars on the Starliner project and the NASA that the company will no longer offer fixed-price contracts for space projects.
Steik at $BA (+1,21%) ends.
SEATTLE - The strike by tens of thousands of workers at Boeing is over after around seven weeks. The workers accepted the airplane manufacturer's latest offer of a 38 percent increase in income over a four-year period. The strike began in mid-September and threatened to deepen Boeing's crisis.
The Boeing proposal was accepted in the vote on Monday with a majority of 59 percent. The previous offer of a 35 percent increase over four years had been rejected by the workers a week ago.
With the new contract, the workers will also receive a one-off payment of 12,000 dollars (around 11,000 euros). The union had already negotiated the receipt of bonus payments, which were originally to be abolished, in the second offer. The workers must now go back to work by November 12 at the latest.
The strike in the north-west of the USA, which began on September 13, has paralyzed production of Boeing's best-selling 737 model and the 777 long-haul jet. This is likely to put Boeing even further behind schedule with deliveries.
Boeing workers had accepted several zero rounds over the past decade and now wanted a significant increase. Boeing announced a few weeks ago that it would cut ten percent of jobs. The cuts are likely to affect around 17,000 jobs.
Source: aero.de
Hit $4k again thanks to good $AMZN (-0,02%) and $INTC (+0,53%) earnings plus the new $BA (+1,21%) union offer
Spirit AeroSystemsthe most important supplier of Boeing
$BA (+1,21%)recorded a net loss in the third quarter net loss of 217 million dollars and had to utilize its entire credit line of 350 million dollars.
These financial difficulties are due to the failure to make advance payments of 425 million dollars from Boeing caused by the ongoing employee strike.
The cash reserves have been reduced to only 218 million dollars.
The company plans to 700 employees on compulsory leave for 21 days and warns of possible layoffs if the strike continues. -Handelsblatt
Bloomberg reports that Boeing
$BA (+1,21%) will have more than 15 billion dollars as early as tomorrow, through a capital increase.
Share sales are planned in order to avoid a downgrade of its credit rating. credit rating to junk status.
Photo: Randall Hill
Boeing
$BA (+1,21%) is considering the sale of its space businessincluding the troubled Starliner-spacecraft and operations to support the International Space Station - according to the WSJ.
Photo: NASA
28.10.2024
Porsche AG: "The ban on combustion engines must fall" + E. coli bacteria at McDonalds: number of cases on the rise + Focus on advertising market, AI and split-up at Google parent Alphabet + Meta with solid advertising business + Boeing apparently planning capital increase
The quarterly figures presented after the Xetra close were lean as expected, but the outlook for the year as a whole was confirmed. Between the lines Porsche $P911 (-1,22%) criticized the upcoming tightening of EU COâ emissions regulations. In the subsequent conference call, the sports car manufacturer then dropped a bombshell. Is a roll back towards the combustion engine coming?
The number of confirmed cases of illness with coli bacteria in the USA, which according to the US authorities can be traced back to the consumption of a certain McDonald's-burger $MCD (+2,19%) has risen to 75. According to the US health authority CDC, 42 of those infected stated that they had previously eaten at the McDonald's fast food chain. At least 22 of them had to be treated in hospital. Two people developed hemolytic uremic syndrome (HUS) as a result of the infection, which can lead to acute kidney failure and can be fatal, the CDC said. US authorities are investigating the outbreak after people in 13 states fell ill between September 27 and October 10 after being infected with E. coli bacteria. One of the illnesses was fatal. According to initial investigation results, the US Food and Drug Administration (FDA) attributes the outbreak to sliced onions in McDonald's Quarter Pounder Burger, the American equivalent of the Hamburger Royal. However, the authorities are not ruling out the possibility that the burger patty itself could also be the cause.
The growth of the online advertising market, the most important source of revenue for Google $GOOGL (-0,6%)has recently slowed down somewhat. But that is complaining at a high level. The Group is nevertheless likely to have grown significantly in the third quarter and posted a higher profit. It is more preoccupied with other issues anyway. Google has to make sure it keeps up in the race for artificial intelligence. And it has to deal with the US anti-trust authorities. In the course of the 3Q reporting, the possible split-up of Alphabet will certainly also be discussed. Quarterly figures on Tuesday at 21:05.
Like Google Meta $META (+0,4%) is largely dependent on online ads in its social networks. The online advertising market is likely to have been solid, with Meta Platforms once again showing significant growth. Analysts expect profit growth of 19 percent and an 18 percent increase in sales compared to the previous year. Investors are also interested in the AI offerings of the parent company of Facebook, Whatsapp and Instagram and how it can monetize them. Quarterly figures on Wednesday at 21:05.
The ailing US aircraft manufacturer Boeing $BA (+1,21%) is on the verge of a massive capital increase, according to insiders. The cash injection of over 15 billion dollars (13.86 billion euros) is to be raised today through a mixture of share sales and convertible preference shares, a person familiar with the matter told Reuters news agency. This is intended to improve the company's financial situation, which has deteriorated as a result of the ongoing strike by around 30,000 employees at its US plants. Boeing initially declined to comment. However, the company had recently announced in regulatory documents that it could raise up to 25 billion dollars in stock and debt to bolster its ailing finances and protect its investment-grade rating. The Airbus rival is in deep crisis after a cabin door came loose during a flight in early January. Since then, the company has been struggling with stricter regulatory controls, production restrictions and dwindling customer confidence. In the first quarter of 2024, Boeing recorded a loss of around six billion dollars. In order to secure liquidity, the Group recently concluded a loan agreement worth ten billion dollars with leading banks. Boeing also announced the reduction of 17,000 jobs, which corresponds to around ten percent of the global workforce. However, the rating agencies S&P, Moody's and Fitch are threatening to downgrade the company to junk status if Boeing takes on new debt without repaying existing liabilities.
Monday: Stock market dates, economic data, quarterly figures
US: Trading hours from 14:30 - 21:00 (instead of 15:30 to 22:00, until Nov. 1)
ex-dividend of individual stocks
Blackstone USD 0.86
Quarterly figures / company dates USA / Asia
21:10 Ford quarterly figures
Quarterly figures / company dates Europe
07:00 Wacker Chemie | Royal Philips Electronic Quarterly figures
07:30 KPN quarterly figures
08:00 Traton quarterly figures
09:00 Traton Analyst Conference
16:00 Wacker Chemie Analyst Conference
Untimed: Bawag quarterly figures
Economic data
Dark clouds on the horizon
Norwegian Air misses Q3 profit expectations and lowers upper end of 2024 guidance range
Norwegian Air has lowered the upper end of its profit guidance for 2024 after reporting a lower-than-market-expected core profit for the third quarter on Friday. The company also said its capacity growth will slow in 2025 due to delays in Boeing aircraft deliveries.
The low-cost airline reported an operating profit of 2.13 billion Norwegian kroner (194.74 million dollars), below the company's forecast of 2.33 billion kroner. In the same period last year, the profit amounted to 2.17 billion kroner, a decrease of two percent.
The low-cost carrier announced that it expects its capacity growth to slow down in 2025, compared to the 13 percent forecast for 2024.
The company reduced its operating profit forecast for 2024 to a range of 2.1 to 2.4 billion kroner, including Wideroe.
In July, the Group lowered its annual forecast and stated that it expects an operating profit of between 2.1 and 2.6 billion kroner this year.
Longer delays in aircraft deliveries $BA (+1,21%) Boeing (BA.N) , which were exacerbated by the month-long strike by around 33,000 employees, and by $AIR (-1,42%) Airbus (AIR.PA) forced the airlines to lease aircraft externally to cover their capacity needs, driving up short-term costs.
Norwegian Air, on the other hand, said it had increased capacity in the third quarter and improved load factors at both the airline and its recently integrated acquisition Wideroe, a domestic competitor that operates smaller aircraft and serves only regional airports.
"Going forward, we will continue to work to streamline operations and identify additional synergies with Wideroe," CEO Geir Karlsen said in a statement.
He also said that the booking momentum for the seasonally weak fourth quarter was "encouraging across the group, both for leisure and business travel".
Boeing
$BA (+1,21%)-Machinists reject new collective agreement
rejected and thus extend the strike to over five weeks.
The offer provided for a salary increase of 35 %, a ratification bonus of 7,000 US dollars, higher 401(k) contributions and other adjustments."- CNBC
$BA (+1,21%) on the crashing branch? I own a few shares myself and am considering selling them (at a loss) to invest the money in other shares. What do you think of Boeing? Do you still see potential or rather less?
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