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An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Calhoun told CNBC on Monday that the decision to retire was "100%" his own and that he would be involved in finding his successor. "We need someone to fix Boeing," one major airline executive, who wasn't authorized to speak to the media, told CNBC after Boeing announced the management shake-up Monday. "I want somebody who knows how to handle a big, long-cycled business like ours," Calhoun told CNBC in an interview Monday while announcing his departure. Four-year Boeing board member Steve Mollenkopf, an ex-Qualcomm CEO who will take over as independent chairman of the board, will lead the search.
Persons: Dave Calhoun, Max, Larry Kellner, Stan Deal, Calhoun, wasn't, John Plueger, It's, Steve Mollenkopf, Cowen, Cai von Rumohr, here's Organizations: Boeing, Max, Boeing Factory, Monday, CNBC, Air Force One, Alaska Airlines, Air Lease, Airbus, Financial, Qualcomm Locations: Renton , Washington, China
Against this backdrop, Bank of America on Monday released a list of best small- and mid-cap ideas for 2024. Strategist Jill Carey Hall added that this year's basket of 31 stocks has average 12-month potential upside of 29%, and is slightly tilted towards value stocks over growth. Shares of Bath & Body Works have trailed the market, rising 2.4% in 2023 and 0.4% so far in 2024. Bank of America also named United Airlines one of its top SMID ideas for 2024. Other names on Bank of America's list of SMID picks included e-commerce retailer Wayfair and aircraft leasing company Air Lease .
Persons: That's, Russell, Jill Carey Hall, Lorraine Hutchinson, Hutchinson, BofA, Geoff Meacham, Lou Gehrig's, Meacham, CyberArk, Tal Liani, Liani, Max, Andrew Didora, UAL, Didora, — CNBC's Michael Bloom Organizations: Wall, Bank of America, Monday, Body, Pharmaceuticals, TAM, United Airlines, Boeing, Bank of, Air Lease Locations: U.S, Amylyx, cybersecurity, CY26, Chicago
By Nia Williams(Reuters) - Six people were killed after a small plane carrying Rio Tinto workers crashed near Fort Smith in Canada's remote Northwest Territories (NWT), the NWT Coroner Service said on Wednesday. Four passengers and two North Western Air Lease crew members died in the crash, Chief Coroner Garth Eggenberger said in a statement, adding the plane had been travelling from Fort Smith en route to the Diavik Diamond Mine. There was one survivor who was treated at the Fort Smith Health Centre before being taken to hospital in the provincial capital Yellowknife. Rio Tinto Chief Executive Jakob Stausholm said in a statement on Tuesday night that the company was devastated by the crash. (Reporting by Nia Williams in British Columbia, Editing by Franklin Paul and Chizu Nomiyama)
Persons: Nia Williams, Garth Eggenberger, Jakob Stausholm, Franklin Paul, Chizu Organizations: Reuters, Tinto, Northwest Territories, NWT, Service, Western Air Lease, Fort Smith Health, Yellowknife . Rio Tinto Chief Locations: Fort Smith, Northwest, Yellowknife . Rio, British Columbia
FORT SMITH, Northwest Territories (AP) — The death toll from a small plane crash in Canada's Northwest Territories was six, authorities said Wednesday. The Northwest Territories coroner’s office said that four passengers and two crew members from Northwestern Air Lease were killed in Tuesday's crash, while a lone survivor was taken to a hospital and later airlifted to Yellowknife. The plane took off from the airport in Fort Smith, and then crashed near the banks of the Slave River. The town of Fort Smith is about 2,100 kilometers (1,300 miles) northeast of Vancouver, British Columbia, near the border between Alberta and the Northwest Territories. The Canadian military responded when the plane lost contact shortly after taking off near Fort Smith.
Persons: Rio, Jakob Stausholm Organizations: Northwestern Air Lease, Rio Tinto Locations: SMITH, Northwest Territories, Canada's Northwest Territories, Rio Tinto, Territories, Yellowknife, Fort Smith, Rio, , Vancouver , British Columbia, Alberta
In response to the crash, Fort Smith Health Centre activated its mass casualty protocol around 8:50 a.m. on Tuesday, according to Northwest Territories Health and Social Services Authority. The crash also drew responses from the Royal Canadian Mounted Patrol, the Canadian Rangers and the Royal Canadian Air Force. Investigators with the Northwest Territories coroner’s office and the Transportation Safety Board were also sent to Fort Smith following the crash. Following the crash Tuesday morning, Fort Smith officials asked to stay away from the crash site to allow officials to respond. “Please be advised that an aviation incident occurred this morning,” the town of Fort Smith said in a post on Facebook.
Persons: Fort Smith, Garth Eggenberger, R.J, Simpson, David Lavallee, Lavallee, Organizations: CNN, Rio Tinto, Northwest, , Fort Smith Health Centre, Northwest Territories Health, Social Services Authority, Royal Canadian Mounted Patrol, Canadian Rangers, Royal Canadian Air Force, Transportation, British Aerospace Jetstream, Northwestern Air Lease, Board of Canada, Northwestern Air Lease’s, RCAF, CNN Canada, CBC News, CC, Hercules, RCMP, CBC, Fort, Facebook, Royal Canadian Mounted Police, TSB Locations: Canada’s Northwest Territories, Fort, Rio, Northwest Territories, Winnipeg, Otter, Yellowknife, Trenton, Calgary
Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon Trane's year-to-date stock performance. Stock Chart Icon Stock chart icon Walmart's year-to-date stock performance. Stock Chart Icon Stock chart icon ImmunityBio's year-to-date stock performance. Stock Chart Icon Stock chart icon Ellington Financial's year-to-date stock performance.
Persons: It's, Ellington Organizations: Walmart, Costco, Ellington, Lease, Air Lease Corp, Boeing
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: This is a good level to start buying Walmart, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: Palantir, Trane Technologies, Walmart, Immunitybio, Air Lease and Ellington Financial.
Persons: Jim Cramer Organizations: Walmart, Trane Technologies, Immunitybio, Air Lease, Ellington Financial
[1/2] Boeing Commercial Airplanes CEO Stanley Deal poses with Emirates airline COO Adel Al Redha and flyDubai CEO Ghaith Al Ghaith after Emirates airline and flyDubai placed orders at the Dubai Airshow for new aircraft from Boeing, in Dubai, United Arab Emirates, November 13, 2023. "Together these orders represent significant investments that reflect Dubai's commitment to the future of aviation," said Emirates and flyDubai Chairman Sheikh Ahmed bin Saeed Al Maktoum. In New York, Boeing shares rose 4.4% after the orders, which also included 45 narrow-body 737 MAX for German-Turkish airline SunExpress. LOWER BOOKINGSOther significant orders appeared to be in the works without being played out in public in Dubai. Saudi Arabia's newest airline Riyadh Air said it is still in talks with planemakers to place an order for narrow-body jets.
Persons: Stanley Deal, Adel Al Redha, Ghaith Al, Alexander, flyDubai, Sheikh Ahmed bin Saeed Al Maktoum, Joe Biden, Xi Jinping, Steven F, planemakers, Asharq, there's, Daniel Silke, Rafael, Tim Hepher, Alexander Cornwell, Pesha Magid, Valerie Insinna, Hugh Lawson, Lisa Shumaker, Navaratnam, Sharon Singleton Organizations: Boeing Commercial, Emirates, Dubai Airshow, Boeing, United Arab Emirates, REUTERS, Companies, Airbus, Turkish Airlines Airbus, Dubai, Aviation, SunExpress, Bloomberg, Industry, Air Lease Corp, Reuters, Turkish Airlines, Anadolu, Dubai . Saudi Arabia's, Riyadh Air, Saudia Airlines Group, Saudia Airline, Royal, Cape, Consultancy, rearm, Russia, Israel Aerospace Industries, IAI, Rafael Advanced Defense Systems, Thomson Locations: Ghaith Al Ghaith, Dubai, United Arab, DUBAI, Government, Emirates, New York, Turkish, UAE, Qatar, Saudi Arabia, Turkey, India, Gulf, Dubai . Saudi, Riyadh, Israel, Gaza, Cape Town, United States, rearm Ukraine
Airbus declined to elaborate on the charge, which came as the planemaker formally announced a restructuring in its Defence & Space division that has been in preparation for several months. Airbus CEO Guillaume Faury stuck to his guns, however. Airbus is producing A320-family jets in the low-50s per month instead of a planned level closer to 58, they said. On the loss-making A220, Airbus reiterated plans to raise output to 14 a month. "We are working very closely with them in the spirit of supporting them, but we also expect from Spirit to well support Airbus.
Persons: Steven Udvar, Guillaume Faury, Faury, Pratt, Safran, Whitney, Chris Calio, Spirit, Patrick Shanahan, Tim Hepher, Valerie Insinna, Allison Lampert, Matt Scuffham, Sharon Singleton, Matthew Lewis Organizations: Airbus, Defence, Space, Air Lease AL.N, Pratt & Whitney, CFM, GE Aerospace, GE, Boeing, Thomson Locations: Dubai, Paris, Washington, Montreal
Air Lease logo is seen displayed in this illustration taken, May 4, 2022. The ongoing jet shortage has benefited lessors such as Air Lease, with the company reporting a third-quarter profit per share of $1.10, beating analysts' estimates of $1.03, according to LSEG data. "On the Airbus side, the situation with engine suppliers in Pratt & Whitney is not enabling Airbus to meet their fourth-quarter targets," Air Lease's Udvar-Hazy said. Air Lease also said it had two of its aircraft on lease to a customer in Israel. "We continue to monitor this region very closely with all of our airline lessees," Air Lease CEO John Plueger said.
Persons: Dado Ruvic, Steven Udvar, Pratt & Whitney, Pratt, RTX, John Plueger, Mehr Bedi, Abhijith, Devika Organizations: REUTERS, Air Lease, Boeing, Airbus, Air, planemaker Boeing, Reuters, Pratt &, Whitney, Lease, Thomson Locations: Israel, Bengaluru
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho
Air lease profit rises on strong aircraft demand
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +1 min
Air Lease logo is seen displayed in this illustration taken, May 4, 2022. REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Aircraft lessor Air Lease Corp (AL.N) on Thursday posted a 15% rise in second-quarter profit on Thursday, as airlines look to expand capacity to cater to a strong pent-up travel demand. This has also led to high leasing rates boosting profit for aircraft lessors. The company reported a net profit of $122 million, or $1.10 per share, for the three months ended June 30, compared with a profit of $105.9 million, or 95 cents per share, a year ago. Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, Shivansh, Arun Koyyur Organizations: REUTERS, Aircraft, Air Lease Corp, Leasing, Boeing, Airbus, Thomson Locations: Bengaluru
But Chuck Royce, who has focused on investing in smaller companies for more than 50 years, did exactly that. "We were early in identifying this as a category for investing even before Russell showed up," he told Insider in a recent interview. Royce is the chairman of Royce Investment Partners, which manages $11.8 billion in assets — and 98% of that is invested in small caps. Big success with small capsDespite his deep roots in small-cap stocks, Royce didn't start out with a specific interest in smaller companies. Instead, after some early struggles, he found that buying high-quality smaller companies and putting together diversified portfolios was a good way to limit losses.
Loop upgrades Meta to buy from hold Loop said it sees a "brighter revenue picture" for the social media giant. Morgan Stanley reiterates Exxon Mobil as overweight Morgan Stanley said it has "high confidence" in the oil and gas giant. We do think consensus estimates for 2023/24 remain too high but believe the buy-side is more aligned with our below-consensus views." Citi initiates AerCap as buy Citi said demand should remain attractive for the aviation leasing company. Deutsche Bank upgrades DuPont to buy from hold Deutsche said DuPoint is well positioned in an uncertain macro. "
Against this backdrop, Goldman Sachs outlined a slew of Russell 1000 stocks that have grown margins in 2022 and are slated to expand once again in the new year. The aircraft leasing company is expected to grow margins by 386 basis points this year after expanding by 116 basis points through the third quarter of last year. Margins for Illumina are expected to expand by 2.15% in 2023, and Goldman anticipates they will rise 1.91% for Booking Holdings. Booking saw its margins expand by 573 basis points through the third quarter, the largest among the stocks included in the screen. The company is slated to expand its margins by 69 basis points this year after a 2.54% expansion in 2022.
Norwegian airline Flyr files for bankruptcy
  + stars: | 2023-01-31 | by ( Terje Solsvik | ) www.reuters.com   time to read: +2 min
OSLO, Jan 31 (Reuters) - Loss-making Norwegian airline Flyr (FLYR.OL) said on Tuesday it would file for bankruptcy after failing to raise the cash it needed for its operations. More than 400 employees will lose their jobs as a result of the bankruptcy, Flyr founder and board Chair Erik Braathen told Norwegian daily Dagbladet. Flyr is the latest Nordic carrier to hit financial difficulties in recent years as the pandemic, soaring energy costs and falling consumer confidence dented demand. SAS is itself undergoing a reorganisation under U.S. Chapter 11 bankruptcy protection proceedings, while Norwegian Air in 2021 underwent restructuring supervised by an Irish court, emerging as a slimmed-down regional airline. ($1 = 9.9939 Norwegian crowns)Reporting by Terje Solsvik Editing by Bernadette Baum, Mark Potter and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.
Biden administration unveils rent protections
  + stars: | 2023-01-25 | by ( Anna Bahney | ) edition.cnn.com   time to read: +9 min
Washington, DC CNN —In response to rent payments soaring across the country in recent years, the Biden administration unveiled new actions Wednesday to protect tenants, make renting more affordable and improve fairness in the rental housing market. The agencies involved include the Federal Trade Commission, the Consumer Financial Protection Bureau, the Federal Housing Finance Agency, the Department of Housing and Urban Development and the Department of Justice. The FHFA will initiate a process to examine limits on egregious rent increases and proposals for renter protections for future investments. The administration also set out its guiding principles in its “Blueprint for a Renters Bill of Rights,” which, while not enforceable, aims to underscore protections the administration says every renter deserves. Meanwhile, others in the housing industry say that this kind of federal involvement in housing policy serves to increase housing costs.
The lessors took a hit of almost $10 billion when Russia barred airlines from returning planes hit by Western sanctions to their owners in the West. This has turned the spotlight on other risky markets, most prominently China and Taiwan, where some fear future conflict could cause a similar seizure on a much larger scale. When discussing the Russia losses, most executives speaking at the conference, also touched on China risks. Several executives said the loss of aircraft to Russia would simply feed into risk management models and encourage lessors to be careful about spreading their exposure rather than withdrawing from markets altogether. "Lessors aren't going to be able to abandon higher risk areas because that is what they do," he added.
DUBLIN, Jan 18 (Reuters) - A battle for compensation is brewing over delays in the delivery of commercial jets, with a Dublin aviation summit descending into a blame game over the worst industrial disruption in years. Aircraft contracts contain dense descriptions of adverse factors which excuse manufacturers for multiple types of delay, meaning they can avoid paying penalties or "liquidated damages". Excusable delays include "acts of God", natural disasters, fire, flood, earthquakes and epidemics, among other examples, according to extracts of past contracts filed with regulators. Non-excusable delays include anything that falls outside this catalogue, but are rare, experts say. 'OVER-OPTIMISTIC'"They are not excusable at all," Aengus Kelly, chief executive of lease giant AerCap (AER.N) told the Airfinance Journal conference when asked about the delays.
[1/3] A woman walks past a Boeing logo at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly SongDUBLIN, Jan 17 (Reuters) - The world's two largest planemakers defended themselves on Tuesday following criticism over delivery delays, with a Boeing (BA.N) executive saying increasing production after COVID-19 lockdowns was "not as easy as an on/off switch." Aircraft leasing firms have used a major industry conference to hammer manufacturers over delays. Air Lease (AL.N) executive chairman Steven Udvar-Hazy said they had "grossly misjudged" output, while one of Airbus' largest customers, AerCap (AER.N), called the European firm's production targets "very ambitious". To help remove the bottlenecks, Airbus has placed over 100 procurement specialists into its indirect suppliers to help them achieve the rates in the supply chain that the jetmaker requires to ramp up production, Pearman-Wright added.
The median company on the list has expanded margins by 1.19% so far this year, while the typical stock in the Russell 1000 saw a 0.28% contraction in margins in the same period. Even better, the companies on Goldman's screen are expected to continue expanding their margins in 2023. The aircraft leasing company has expanded margins by 116 basis points this year and is expected to boost them another 429 basis points next year. Avoid stocks where margins might compress Goldman also said investors should avoid stocks where profit margins appear vulnerable if the recent decline in companies' selling, general and administrative expenses (SG & A) reverses. This is because if costs increase — likelier than not as demand slows — that will eat into profit margins and potentially lead to negative earning per share revisions.
Third, long-duration stocks that are unprofitable — typically these are growth stocks found in the tech sector — should be avoided, Kostin said. Fourth, Kostin likes stocks that have growing profit margins despite the tightening economic conditions. He shared a list of stocks with the most resilient profit margins over the last few year, and which are expected to grow margins next year. And finally, Kostin recommended avoiding stocks whose profit margin growth in recent years may have been due to a decrease in expenses as opposed to an increase in sales. Rising or normalizing expenses for these companies could chip away at profit margins.
The major indexes all posted gains this week despite a Big Tech beatdown, proving the market can rally without its most valuable stocks. Indeed strength in other sectors — only communication services finished down — helped the overall market to shrug off disappointing earnings results from Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META). Alphabet's results fell short of the Street's expectations, but still managed to grow revenue 6% annually off a $65 billion base. (Canada's central bank hiked rates less than expected this week, opting for a 50 basis point hike instead of the expected 75.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
The world's largest aircraft leasing firms, like Air Lease , Avolon and AerCap , which acquired GE 's airplane leasing business last year, are reaping the benefits. A tight supply of aircraft is driving up the price airlines pay to rent planes, just as travel demand returns. This year's surge in oil prices make newer, fuel-efficient planes more attractive than older ones, and higher interest rates could also drive up lease rates. "That will push lease rates higher through the rest of the year." Cronin said lease rates for Boeing Maxes and Airbus A320neos have risen by 10%-15% so far this year.
Компания пополнила свой флот новым самолетом Airbus A320, арендованным у Air Lease Corporation, и на следующей неделе начнет полёты из Клуж-Напока, сообщает profit.ro. Об открытии оперативной базы в Клуж-Наполе было объявлено в феврале, и HiSky тогда сообщил, что первые полеты начнутся во второй половине апреля в Лиссабон и Дублин. Эту информацию на минувшей неделе подтвердил Юлиан Скорпан, основатель и генеральный директор HiSky. Скорпан, бывший пилот и генеральный менеджер Air Moldova, основал HiSky в Кишиневе вместе с Виктором Сулэ, бывшим заместителем генерального директора молдавского авиаперевозчика. В настоящее время HiSky управляет флотом из трех самолетов Airbus, все три арендованы у Air Lease Corporation.
Persons: mybusiness.md, Юлиан Скорпан, Скорпан, Виктор Сулэ Organizations: Airbus, Air Lease Corporation, Air, Лоукостер, Аврам Янку Locations: Air Moldova, Республика Молдова, Румыния, КлужНапока, клужнаполь, Лиссабон, Дублин, Кишинев, КишиневХургада, Египет, Клуж, СатуМаре, Яссы, ТыргуМуреш, Орадя
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