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Boeing orders sink as customers opt to swap MAX

The numbers included what Boeing called a “conversion” by Air Lease Corp of 15 MAX orders into five 787 Dreamliners. Air Lease, which had 135 outstanding orders for the 737 MAX as of October, down from 150 orders in September, has said the conversion reflected greater demand from airline customers for the 787 in future years. Boeing’s orders and deliveries have lagged Airbus this year due to the prolonged grounding of its best-selling MAX jets following two fatal crashes that have killed hundreds of people. …read more […]

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UPDATE 1-Disney+ launch marred by glitches as demand overwhelms

Walt Disney Co said demand for its much-anticipated streaming service, Disney+, was well above its expectations in a launch on Tuesday marred by complaints from users about glitches and connection problems. Disney+ is relying on its extensive library of movies and TV shows as well as a new slate of content to take on market-leader Netflix Inc and Apple TV+, Apple Inc’s newly launched streaming service. Shares of Disney were up 1.5%, while Netflix shares were down nearly 2%. …read more […]

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UPDATE 1-Warren proposes 'corporate perjury' law related to industry-funded research

U.S. Senator Elizabeth Warren on Tuesday proposed a new “corporate perjury” law that she would pursue if elected to the White House, inspired by Exxon Mobil Corp’s past failure to share accurate climate change research with government regulators. “No one would be liable for mistakes, for submitting research in good faith that turns out to be wrong, or for raising honest disagreements,” Warren wrote on the website Medium. “ExxonMobil has continuously and publicly researched and discussed the risks of climate change, carbon life-cycle analysis and emissions reductions,” Exxon’s Scott Silvestri said. …read more […]

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Alibaba-backed EV startup XPeng raises nearly $400 mln for growth -sources

HONG KONG/BEIJING, Nov 12 (Reuters) – Chinese electric vehicle (EV) manufacturer XPeng, backed by Alibaba Group Holding Ltd, has raised nearly $400 million from investors including Xiaomi Corp to fund its growth, said two people with knowledge of the matter. The fundraising comes at what bankers and industry insiders describe as an increasingly tough financing environment for Chinese EV startups which must jostle for attention in a crowded sector and produce convincing arguments about future profitability despite government cuts to EV subsidies and plans to phase them out. The latest fundraising values the five-year-old firm, founded by 42-year-old …read more […]

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Embraer lowers dividend guidance, burns cash, as Boeing deal hits snags

Brazilian planemaker Embraer signalled it may issue a smaller dividend to shareholders as it burns through cash before finalizing a $4.2 billion commercial passenger jet deal with Boeing, which faces regulatory hurdles. Embraer now expects the dividend to range between $1.3 billion-$1.6 billion, compared with previous guidance of $1.6-billion-$1.7 billion, the company said in a securities filing. During an earnings call with analysts, executives said the dividend guidance was lowered due to additional cash needs in 2019, partly due to cost base revisions to a new military plane. …read more […]

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3 Stocks to Sell Before Winter Comes

We’re wrapping up Q3 earnings, and investors are starting to focus on Q4 happenings – which may cause some anxiety, considering recent history. Last year, Q4 saw a 9% collapse in the S&P 500, the worst market drop since the Great Depression. Michael Wilson, equity strategist with Morgan Stanley, sees a definite possibility for a repeat, especially in light of the ongoing US-China trade war: “The bottom line is that without a significant roll-back of existing tariffs, we don’t see [a change in] the currently negative trajectory of growth in both the economy and earnings.”If Wilson is right, then now …read more […]