Boeing recently announced the appointment of Robert “Kelly” Ortberg as the new CEO, replacing Dave Calhoun. Ortberg brings with him a wealth of experience from leading major aerospace supplier Rockwell Collins and will be tasked with navigating Boeing through a series of challenges in the wake of safety and manufacturing crises. Ortberg’s appointment as CEO
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The groundbreaking drug Leqembi has shown promising results in slowing the progression of Alzheimer’s disease in patients over a period of three years. The need for long-term treatment has been highlighted by new data released by Japanese drugmaker Eisai. However, the study’s findings raise questions about the potential risks and benefits of sustained use of
Spirit Airlines, a Florida-based carrier known for its budget air travel options in the U.S., is making a significant shift in its business model. In light of recent challenges such as a blocked takeover by JetBlue, engine recalls, and intense competition in the domestic market, the airline is introducing new packages for its highest-priced tickets.
The Farnborough Airshow, one of the biggest events in the aerospace industry, took place this year with a notable absence of massive airplane orders. This shift in focus from huge orders to production struggles at Boeing and Airbus highlights the challenges faced by the industry in ramping up airplane production post-pandemic. The issues, ranging from
McDonald’s is facing a tough time as it struggles to recapture consumers with attractive deals after a challenging second quarter. U.S. President Joe Erlinger mentioned in a memo that the company is finding it hard to sell diners on affordability. This indicates a disconnect between the brand and consumer preferences, which is worrying for a
McDonald’s executives recently admitted that consumers view the company’s prices as too high, especially for lower-income individuals who have been hit hard by years of high inflation. This acknowledgment came during the company’s second-quarter earnings call, where executives expressed their commitment to reassessing their pricing strategy and focusing on providing better value to customers. The
As the second quarter earnings reports of many fast-food chains loom, investors are bracing themselves for less-than-stellar results. With the current economic downturn causing consumers to cut back on spending, the fast-food industry has been hit hard. The traditional go-to for affordable meals, fast-food chains are now facing a challenge as consumers look for better
Bristol Myers Squibb recently reported second-quarter earnings and revenue that surpassed expectations, showcasing a significant financial success for the pharmaceutical giant. The company raised its full-year revenue forecast to an increase in the “upper end” of the low single-digit range, indicating a positive trajectory in terms of financial growth. Additionally, the adjusted earnings guidance for
The recent performance of major U.S. automotive stocks has been less than stellar, with Ford Motor leading the decline this week. This downward trend has been primarily fueled by disappointing results and growing investor skepticism surrounding the future performance of these companies. Ford’s shares plummeted by more than 17% in early trading on Thursday, marking
Ford Motor’s second-quarter earnings did not meet Wall Street’s expectations, falling short of the projected earnings per share of 68 cents with an actual result of 47 cents. This discrepancy was attributed to increased warranty costs that have been affecting the company’s profitability for some time. The automotive revenue of $44.81 billion surpassed the expected