Shares of Boeing and Caterpillar rose more than 1% despite significant earnings misses from both companies. Boeing reported a 53% drop in quarterly profit but reaffirmed the timeline for its grounded 737 MAX’s return to service. Caterpillar’s Asian sales tumbled, but the company said tariffs stemming from the U.S.-China trade war would have a smaller impact on its business than previously forecast.
With no new developments in trade relations, focus turned to earnings and other announcements from individual companies. Boeing and Caterpillar’s shares were resilient, several analysts said, because the companies’ slide in earnings was expected given the challenges they have faced throughout the year.
“Caterpillar has certainly been beset by trade war impact, so it wasn’t necessarily all that surprising,” said Shannon Saccocia, chief investment officer at Boston Private. “Boeing has had its own issues from the perspective of the 737 MAX.” Texas Instruments shares, however, tumbled 7.5% after the chipmaker projected fourth-quarter revenue below Wall Street estimates. The results sent shares of other semiconductor companies, including Intel Corp (
And the rich keep getting richer 🤮
Please update your Chinese software
Poor guys..... We know you're rooting against Trump
....and look forward to impeachment
BodyHairAwareness HairyGreeks PunkRock PostNoise ManscapingIsTyranny
I mean who really cares about major international manufacturers. Like that’s some indicator of things to come. Now back to my rousing game of badminton. Jeeves, bring me another scotch. The 25-year old this time.
Muh Recession!
A lot of shrugging going one around here.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »