Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Boeing (BA) announced that it has terminated its Master Transaction Agreement with Embraer (ERJ), under which the two companies sought to establish a new level of strategic partnership. The parties had planned to create a joint venture comprising Embraer's commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft. Under the MTA, April 24, 2020, was the initial termination date, subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions. Meanwhile, Embraer has announced that it is in receipt of Boeing's notice of termination of the master transaction agreement with Embraer. Embraer "believes strongly that Boeing has wrongfully terminated the MTA, that it has manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the US$4.2 billion purchase price." It added, "We believe Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems. Embraer believes it is in full compliance with its obligations under the MTA and that it has satisfied all conditions required to be accomplished by April 24, 2020. Embraer will pursue all remedies against Boeing for the damages incurred by Embraer as a result of Boeing's wrongful termination and violation of the MTA." 2. Tesla (TSLA) is calling some workers back to its lone U.S. vehicle-assembly plant starting next week, before San Francisco Bay area stay-home orders are scheduled to expire, Bloomberg's Josh Eidelson reported. Supervisors told some staff in the paint and stamping operations of the factory in Fremont, California, to report to the facility on April 29, the author noted. 3. The leading restaurant stocks have recouped much, and in some cases, all, of their big losses sustained during the market rout, with McDonald's (MCD), Starbucks (SBUX), Chipotle (CMG), Yum! Brands (YUM), and Darden Restaurants (DRI) up 50% to 125% from their lows in March, Andrew Bary wrote in this week's edition of Barron's. Investors, however, may be too optimistic about the group's prospects. Social distancing guidelines are likely to be in effect for some time once restaurants reopen and should prevent a meaningful rebound in sit-down meals that remain important for the industry despite the growth in pickup and delivery business, the author contended. 4. Diamond Offshore (DO) filed for bankruptcy protection in Texas on Sunday, after the company recently skipped making an interest payment and said it had retained restructuring advisers, Reuters' Alwyn Scott reported. The drilling company's filing said day rates and demand for its services had "worsened precipitously" this year amid a "price war" between OPEC and Russia and the steep drop in oil demand caused by the coronavirus pandemic. 5. Take Flowserve (FLS), Emerson Electric (EMR), United Rentals (URI), Fluor (FLR), Chevron (CVX), ConocoPhillips (COP), Schlumberger (SLB), Phillips 66 (PSX), Campbell Soup (CPB), Conagra (CAG), General Mills (GIS), Kellogg (K) and Kraft Heinz (KHC) saw positive mentions in this week's edition of Barron's, while Harley-Davidson (HOG) was mentioned cautiously.