Boeing to inspect undelivered 737 MAX planes for foreign objects, CNBC says » 17:5002/1802/18/20
Boeing has learned that…
Boeing has learned that some of its stored 737 Max planes have foreign objects in their fuel tanks, CNBC's Phil LeBeau reports. The company will investigate the foreign objects in the tanks, and added that the discovery won't impact the plane's return to service at this time. Boeing also plans to inspect all undelivered 737 Max planes, the report noted. Reference Link
Boeing to inspect undelivered 737 MAX planes, Bloomberg reports 17:3802/1802/18/20
Nike names Andy Campion COO, Matthew Friend CFO » 16:1702/1802/18/20
Nike announced a series…
Nike announced a series of senior leadership changes. Heidi O'Neill, President of Nike Direct, will become President of Consumer and Marketplace on April 1, succeeding Elliott Hill, who is retiring from Nike. Andy Campion, currently Executive Vice President and Chief Financial Officer, will become Chief Operating Officer, also effective April 1. He will succeed Eric Sprunk, COO, who is retiring from Nike. Matthew Friend, currently CFO of Operating Segments and Vice President of Investor Relations, will become the new CFO for NIKE, Inc. Both Hill and Sprunk will remain with Nike until later this year. "I am delighted to announce a series of leadership changes today which set up the company for continued growth and demonstrate the strength of the Nike management bench," said John Donahoe, President and CEO of NIKE, Inc. "Heidi and Andy's leadership has been instrumental in both evolving and driving Nike's strategy over the last decade. In their new roles, we will see them have even greater impact on Nike's success in the future. Matthew brings more than 10 years of Nike experience to the CFO role and will be a great addition to our executive leadership team."*
UBS consumer goods/retail analyst to hold an analyst/industry conference call » 13:2502/1802/18/20
Consumer Goods/Retail Analyst Sole discusses Nike and how today's supply chain is different on an Analyst/Industry conference call to be held on February 18 at 2 pm.
Cooperman recommends United Airlines as stock pick » 13:0002/1802/18/20
Leon Cooperman of Omega…
Leon Cooperman of Omega Advisors is speaking on CNBC.
Boeing 737 Max disaster series in works, Variety reports » 11:3802/1802/18/20
Documentary filmmaker Rory Kennedy is teaming with Imagine Entertainment for a new series about the tragedy and subsequent scandal over the defunct Boeing 737 Max airplane, Variety's Matt Donnelly writes, citing sources. The project will examine the months since the tragedies, which caused global panic in March 2019 after two new aircrafts crashed within five months, killing 346 people, the author notes. Reference Link
Bombardier expected to terminate talks with Textron amid Alstom deal, WSJ says » 11:3402/1802/18/20
ALSMY, BDRBF, TXT
Alstom (ALSMY) has agreed…
Alstom (ALSMY) has agreed to purchase Bombardier's (BDRBF) train division in an $8.2B deal, which comes after Bombardier initiated talks with Textron (TXT) several weeks ago to sell its business-jet unit, the Wall Street Journal's Jacquie McNish and Daniel Michaels report, citing people familiar with the matter. Bombardier began the discussions with Textron amid concerns that the Alstom negotiations had bogged down and the talks are expected to be terminated. Reference Link
Bombardier upgraded to Outperform from Market Perform at Raymond James » 09:2502/1802/18/20
Raymond James analyst…
Raymond James analyst Steve Hansen upgraded Bombardier to Outperform from Market Perform with a price target of C$2.75, up from C$1.75.
Benchmark starts Spirit AeroSystems at Hold amid Boeing, accounting uncertainty » 07:2202/1802/18/20
As previously reported,…
As previously reported, Benchmark analyst Josh Sullivan initiated coverage of Spirit AeroSystems (SPR) with a Hold rating. Given that about 80% of Spirit sales are derived from Boeing (BA), the fate of the 737 MAX "remains the primary concern" as he anticipates Boeing will take a cautious approach to ramping production. Also, the ongoing accounting review and resignations of a CFO and Controller add further uncertainty, Sullivan tells investors.
Bombardier downgraded to Sector Perform from Outperform at Scotiabank » 05:4502/1802/18/20
Scotiabank analyst Konark…
Scotiabank analyst Konark Gupta downgraded Bombardier to Sector Perform from Outperform with a C$1.85 price target.