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☆ Boeing freezes hiring and executives’ first-class travel as massive strike continues
▼ + stars: | 2024-09-16 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +2 min

CNN —With a massive ongoing strike, Boeing is making some temporary cutbacks that could hit non-union staff hard. Boeing Chief Financial Officer Brian West on Monday announced the company is instituting a freeze on hiring and non-essential travel, and it will consider furloughs for employees, managers, and executives. The company is temporarily restricting first-class and business travel, including for Boeing executives – although the company didn’t comment on whether top brass will still be able to use private corporate jets. West’s memo was a direct response to the ongoing strike with the International Association of Machinists and Aerospace Workers union. The company will also reduce charitable contributions, stop catering at Boeing facilities, and pause participation in trade shows and events.

Persons: Brian West, ” West, West, ”, Fitch, Moody’s Organizations: CNN, Boeing, Monday, International Association of Machinists, Aerospace Workers

☆ Stocks making the biggest moves midday: Cleanspark, Vaxcyte, Unity Software and more
▼ + stars: | 2024-09-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Cleanspark released its mining update for August, which showed that it mined 478 bitcoins last month. Vaxcyte – Shares were recently up more than 36% and earlier hit a record high after the vaccine company reported positive results from the Phase 1/2 study for its 31-valent pneumococcal conjugate vaccine candidate. Semiconductor stocks – Shares of some of the biggest chipmakers fell during the first trading session of the month. Last week, shares fell 19% on news of its filing delay and Hindenburg's disclosed short position. United States Steel – Shares fell around 6% after Vice President Kamala Harris opposed the planned sale of U.S. Steel to Japan's Nippon Steel at a Labor Day rally for union members in Pittsburgh.

Persons: Cleanspark, Vaxcyte, Leerink, Morgan Stanley, Redfin, Charles Liang, Hindenburg's, Hindenburg, Kamala Harris, Harris, Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert, Michelle Fox Organizations: Leerink Partners, Boeing, Riley Securities, Semiconductor, KLA, Nvidia, Micron Technology, Taiwan Semiconductor Manufacturing, Broadcom, Hindenburg, Securities and Exchange, United States Steel, Steel, Japan's Nippon Steel, Labor, U.S Locations: Wells, U.S, Pittsburgh, American

☆ US Department of Justice finalizes plea deal with Boeing
▼ + stars: | 2024-07-24 | by ( Ramishah Maruf | Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —The US Department of Justice on Wednesday for the first time shared details of its finalized plea deal agreement with Boeing, in which the troubled aviation company will plead guilty to a felony charge of defrauding the US government. The plea deal is subject to approval of a federal judge. “We will continue to work transparently with our regulators as we take significant actions across Boeing to further strengthen our safety, quality and compliance programs,” Boeing said in a statement. It had already paid half the fine as part of the original plea deal in 2021. The families of victims of two fatal crashes of the 737 Max oppose the deal, the Justice Department said.

Persons: “, Max, – Organizations: New, New York CNN, US Department of Justice, Boeing, Federal Aviation Administration, Justice Department, Alaska Airlines Locations: New York, United States

☆ Stocks making the biggest moves midday: Paramount Global, Morphic Holding, Ideaya Biosciences and more
▼ + stars: | 2024-07-08 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Skydance and its financial backers will invest more than $8 billion into Paramount and to acquire National Amusements, Paramount's controlling shareholder. Morphic Holding – Shares rallied 75% on news that Eli Lilly will acquire the biopharmaceutical company in a $3.2 billion deal . The deal will give Eli Lilly access to Morphic's portfolio of treatments in development, such as those for ulcerative colitis and Crohn's disease. Shares of Eli Lilly advanced 1.3% on the news. Boeing – Shares fell slightly after the airplane maker agreed to plead guilty to criminal fraud related to the fatal 737 Max crashes, sparing Boeing from a trial.

Persons: Eli Lilly, BofA, Corning, Guggenheim, Max, Grayson, Raymond James, Samantha Subin, Pia Singh, Hakyung Kim, Sarah Min, Michelle Fox Organizations: Paramount Global, Skydance Media, Skydance, Paramount, National, Morphic, Ideaya Biosciences, Bank of America, Boeing –, Boeing, ., CNBC, Devon Energy, Gilead Sciences Locations: Columbia, Stifel, Williston, Gilead

☆ Former Boeing inspector alleges ‘scrap’ parts ended up on assembly lines
▼ + stars: | 2024-07-03 | by ( Gregory Wallace | ) edition.cnn.com time to read: +9 min

A string of whistleblowers this year has raised allegations about Boeing factory lapses, including an official federal complaint from a current employee that Boeing hid potentially defective parts from Federal Aviation Administration inspectors, and that some of those parts likely ended up in planes. Most of the parts that were meant to be scrapped were often painted red to signify they were unsuitable for assembly lines, Meyers said. In a statement to CNN, Boeing did not dispute Meyers’ allegations. Meyers describes a pressure-packed environment at the Everett factory, where assembly teams competed with each other to find the parts they needed. Workers assemble Boeing Co. 787 Dreamliner airplanes at the Boeing Everett Factory in Everett, Washington.

Persons: CNN —, Merle Meyers, Meyers ’, Meyers, “, ” Meyers, ”, Max, Dave Calhoun, Sam Mohawk, Richard Cuevas, Aerosystems, Patrick T, Pete Muntean Organizations: CNN, Boeing, Everett, Federal Aviation Administration, Company, New York Times, FAA, Justice Department, Occupational Safety, Health Administration, Engineering, Workers, Boeing Co, Boeing Everett Factory, Fallon, Bloomberg Locations: Everett , Washington, Auburn , Washington

☆ Here’s what it means when a company like Boeing faces criminal charges
▼ + stars: | 2024-06-29 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

While criminal charges against corporations are fairly common, the overwhelming majority are against small, closely-held companies. Earlier criminal settlement now at riskThe potential charges hanging over Boeing currently revolve around that January 2021 deferred prosecution agreement. They have argued Boeing should face new criminal charges and pay a fine as great as $24.9 billion. In May, the Justice Department said it was looking into bringing criminal charges against Boeing once again due to a potential violation of that January 2021 agreement. Arlen said it is common for smaller companies to be forced out of business by criminal charges and the penalties that follow.

Persons: ”, Jennifer Arlen, Arlen, Lindsey Wasson, ” Arlen, “, Max, David Burns, Mark Forkner, Eduardo Soteras, Arthur Andersen Organizations: New, New York CNN, Justice Department, Boeing, Dow Jones, New York University, Control, Max, Federal Aviation Administration, FAA, Alaska Airlines Flight, NTSB, Getty, Alaska Airlines, Prosecutors, CNN, Oil, BP, US Environmental Protection Agency, Ethiopian Airlines Locations: New York, China, Renton , Washington, Alaska, AFP

☆ Bezos' Blue Origin joins SpaceX, ULA in winning bids for $5.6 billion Pentagon rocket program
▼ + stars: | 2024-06-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

The Pentagon announced the first winning bidders in its rocket launch contract sweepstakes on Thursday, with Jeff Bezos' Blue Origin grabbing a spot for the first time. Blue Origin's winning bid came as part of contracts awarded under the Pentagon's $5.6 billion National Security Space Launch program. Blue Origin, SpaceX, and ULA did not immediately respond to CNBC requests for comment. Under the program, known as NSSL Phase 3 Lane 1, the trio of companies will be eligible to compete for contracts through mid-2029. Blue Origin, as well as Northrop Grumman , missed out on Phase 2 when the Pentagon selected ULA and SpaceX for the program in August 2020.

Persons: Jeff Bezos, Blue Origin's, Elon Musk's, Alliance –, Lockheed Martin, ULA, Northrop Grumman Organizations: Glenn, Pentagon, Security, Elon Musk's SpaceX, United, Alliance, Lockheed, Boeing, SpaceX, CNBC, Northrop Locations: ULA

☆ Stocks making the biggest moves premarket: Boeing, News Corp, AT&T, Microsoft and more
▼ + stars: | 2023-01-25 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Boeing – Boeing's stock dropped about 1.7% premarket after the aircraft maker posted earnings and revenue that missed expectations, despite a demand recovery. Microsoft — Microsoft shares declined by nearly 3% after the software giant shared a dismal revenue forecast for the current quarter. The tech bellwether topped earnings expectations but said new business growth slowed in December, including within its Azure segment. Sunrun , SunPower — The solar companies both fell more than 3% after being downgraded by Barclays due to a potential slowdown in solar demand. Intuitive Surgical – The maker of robotic surgical systems suffered a 9% drop after the company reported fourth-quarter earning and revenue that fell just short of expectations.

☆ Stocks making the biggest moves midday: Horizon Therapeutics, Coupa Software, Weber and more
▼ + stars: | 2022-12-12 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Amgen shares fell more than 1%. Weber – Shares of the grill manufacturer jumped 23% after the company announced a deal to be taken private by BDT Capital Partners. Coupa Software – The maker of business spending management software jumped 26% after the private-equity firm Thoma Bravo agreed to buy the company in an all-cash deal worth $8 billion, or $81 per share. Under Armour – The athletics apparel stock jumped 10% following an upgrade to buy from hold by Stifel. Monday – Shares of software publisher Monday jumped 6% after JPMorgan upgraded the stock to overweight from neutral and boosted its price target.

☆ Stocks making the biggest moves midday: FedEx, Adobe, Boeing and more
▼ + stars: | 2022-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

FedEx received its first five of an order of 500 electric Light Commercial Vehicles (eLCVs) from BrightDrop. Snowflake - Shares of the cloud computing company dropped more than 6% as growth stocks led Friday's sell-off. The decline came even as Needham initiated coverage of Snowflake with a buy rating, as the Wall Street firm sees potential new uses for its platform. Adobe – Adobe's stock built on Thursday's declines, sinking just over 3% after a slew of downgrades from Wall Street analysts. Bank of America downgraded the technology stock to neutral as it awaits further clarity on Adobe's Figma acquisition.

☆ Un moldovean la Boeing: „Aici, în fiecare zi înveți ceva nou”
▼ + stars: | 2021-03-14 | by ( ) www.zdg.md time to read: +7 min

Nicolai Loghin s-a născut la Nisporeni, unde a și absolvit Liceul „Boris Cazacu”. După o facultate făcută la Chișinău, a decis să-și urmeze visurile, iar astăzi are deja în spate o carieră la Boeing. Housekeeping, chelner, pizza delivery, valet parking, prep cook, agent de asigurări, asamblarea aparaturii medicale și a automobilelor… Tot ce era disponibil. — Ce te pasionează în munca ta de specialist în controlul calității la Boeing și cum ai ajuns să-ți faci o carieră la această companie? — Ideea de a pleca din R. Moldova a venit după absolvirea universității.

Persons: Nicolai Loghin, Boris Cazacu, Nicolai, prep cook, Le, Ecaterina, Tatiana Popovici Organizations: Boeing, Washington State, Aerospace, NASA, Stația Spațială Locations: Nisporeni, SUA, Chișinău, Moldova, Washington, Alaska, Hawai, America

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