Lululemon reported earnings per share of $0.22, falling short of the Street's expected $0.29 per share. The athletic retail company also missed revenue estimates, reporting $652 million, below the Street's expected $690.926 million. Myles Udland breaks down Lululemon's first-quarter results on The Final Round....
Boeing Co. (NYSE: BA) told its supplier of aircraft fuselages to pause production on four 737 MAX units and avoid starting work on another 16 units scheduled for delivery this year.The aircraft manufacturer said it's decision is tied to the coronavirus' devastating impact on the airline industry's finances and the need to avoid unnecessary production costs when airlines are canceling or postponing orders for new airplanes they no longer can afford. Airlines grounded most of their fleets in response to government travel bans and have been cutting all non-essential expenses to reduce red ink.The drawdown in 737 MAX fuselage orders from Boeing is another blow to Wichita, Kansas-based Spirit AeroSystems holdings, Inc. (NYSE: SPR), which has already experienced a significant reduction in output since the grounding of the 737 MAX aircraft fleet in March 2019 due to airworthiness concerns after two high-profile crashes that killed 346 people.Boeing resumed limited production in...
According to DAT Freight Trends for the week of June 1-7, average van, refrigerated, and flatbed rates have recovered to where they were prior to widespread shutdowns of the U.S. due to the COVID-19 outbreak. ...
Following the Federal Reserve monetary policy decision, stocks slid, with the S&P 500 and Dow pointing to a third straight session of losses. In the Fed’s monetary policy decision, policymakers highlighted the ongoing economic concerns spurred by the coronavirus pandemic and measures taken to contain it.
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