Boeing is reportedly negotiating to sell 500 planes to China
15 minutes ago
Boeing is said to be in discussions to sell up to 500 aircraft to China, signaling a significant move in the competitive landscape of aircraft manufacturing. Details on the types and exact numbers of the planes haven’t been fully disclosed yet, but it’s been noted that officials in China are already inquiring from local airlines about their demand.
In recent years, Boeing has only sold a limited number of aircraft to Chinese carriers. This potential sale could play a crucial role in broader trade negotiations, particularly those that were previously engaged under the Trump administration with Beijing. These discussions have been ongoing for quite some time, and there was mention of nearing an agreement when President Joe Biden met with China’s President Xi Jinping in San Francisco in 2023.
As for Boeing’s stock, it hasn’t shifted dramatically lately. However, there has been a substantial 27% increase since the start of the year, making it one of the top performers on the Dow Jones industrial average, alongside AI chipmaker Nvidia.
HP Enterprise gains traction after Morgan Stanley’s upgrade amid AI surge
1 hour 6 minutes ago
Shares of Hewlett Packard Enterprise have seen a boost as corporations increasingly invest in artificial intelligence and related technologies. This uptick follows an upgrade from Morgan Stanley, which raised its rating from “equal weight” to “overweight,” adjusting the price target from $22 to $28. Consequently, stock prices rose about 3%, hovering just under $22.
Analysts at Morgan Stanley indicated that their findings reflect robust corporate spending, particularly on AI-related computing and networking. They expressed optimism regarding the potential for revenue and overall performance improvements in the upcoming July quarter.
In addition to HP Enterprise, Morgan Stanley also raised price targets for Dell Technologies and NetApp. With the current positive movement, HP Enterprise has marked gains for this year.
Coty shares drop sharply after unexpected losses
2 hours 4 minutes ago
Coty’s stock plummeted by about 20% during early trades after the cosmetics company reported unexpected losses, prompting a reduction in retail orders. For its last quarter, Coty disclosed a net loss of $72.1 million, or an adjusted loss of $0.05 per share, falling short of analysts’ expectations for a net income of $37.6 million.
CEO Sue Nabi mentioned that retailers have become cautious in the current market atmosphere. The results were influenced by challenges in U.S. demand following a strong fiscal year in 2024, alongside pressures in the cosmetics sector and a decline in fragrance sales. The company highlighted that macroeconomic conditions and tariff uncertainties have contributed to a competitive environment, leading retailers to be cautious and promote more aggressively. While sales during the recent quarter dipped between 6% and 8%, Coty anticipates a return to profit margins later in the fiscal year.
Currently, Coty shares trading are at the lowest levels seen since mid-2020, reflecting an ongoing decline, now totaling about 45% for the year.
Walmart shares fall as profits miss projections
3 hours 21 minutes ago
Walmart’s shares declined by 3% prior to the market opening on Thursday. The retail giant revealed adjusted earnings of $0.68 per share, which was below the $0.73 that analysts had anticipated. Despite revenues increasing nearly 5% year-over-year to $177.4 billion, this figure slightly overshot expectations of $175.97 billion.
In terms of growth, U.S. equivalency sales witnessed a rise of 4.3%, also exceeding the company’s forecast of 4.1%. Global e-commerce sales surged by 25%, driven by in-store pickup and delivery. Analysts had projected a growth rate of 17.2%.
However, Walmart noted that operating profit had dropped over 8%, citing legal and restructuring issues as contributing factors. They have updated their forecasts for revenue growth and adjusted EPS outlook for fiscal year 2026, predicting a range of 3.75% to 4.75% for revenue and adjusted EPS between $2.52 and $2.62. For the current quarter, they project growth rates that surpass consensus estimates.
Despite the pressures, Walmart shares have rallied roughly 14% this year, with analysts maintaining positive recommendations overall, signaling confidence in the company’s fundamentals.
Major index futures indicate lower market openings
3 hours 53 minutes ago
Futures for the Dow Jones industrial average have decreased by 0.4%. Similarly, S&P 500 futures have dipped 0.3%, while Nasdaq 100 futures have slipped by 0.2%.
