Wall Street processes the Boeing results


The stock exchanges in New York started a new trading session on Wednesday with small results. Investors on Wall Street are again processing a large number of quarterly reports from companies. Among other things the plagued Boeing came with figures.

Shortly after the opening bell, the Dow-Jones index recorded 0.1 percent lower at 26,630 points. The broad S&P 500 also dropped 0.1 percent, to 2932 points, and the Nasdaq technology fair won a fraction of 8122 points.

Boeing put an end to his forecasts for this year. The aircraft manufacturer has been under pressure for some time after two fatal crashes in a short time with the Boeing 737 MAX type. The company now first wants more certainty about the financial impact of those problems. Boeing is also ceasing its share buyback program for the time being. Turnover and profit of the aircraft manufacturer decreased. Investors, however, had already seen this coming a bit. The share gained 0.7 percent in the first trading minutes.

In addition, telecom group AT&T (minus 2 percent), defense company Northrop Grumman (minus 1.3 percent) and excavator manufacturer Caterpillar (minus 1.8 percent) opened the books.

In addition, a takeover battle is taking place around Anadarko Petroleum in the oil sector. Oil company Occidental has made a new takeover bid for its counterpart Anadarko, which is considerably higher than the amount for which rival Chevron wants to take over. The Occidental share fell by more than 3 percent and Anadarko went up almost 12 percent. Chevron lost more than 1 percent in market value.

By: Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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