Nasdaq 100 index futures are climbing afterhours as traders await earnings from Apple and Facebook. Asia-Pacific stocks look set to rebound from Tuesday’s losses. The US Dollar retreated.
Boeing’s 777X Charge, 787 Woes Make Max the Key to Turnaround
Bloomberg 1/27/2021 Julie Johnsson
(Bloomberg) Boeing Co.’s turnaround is riding on the slender wings of its 737 Max after its newest jetliner was delayed by another year and manufacturing defects hobbled deliveries of the marquee 787 Dreamliner.
Popular Searches
The company recorded a $6.5 billion charge as it pushed back the first delivery of the behemoth 777X variant to late 2023 three years behind the initial schedule. Boeing logged a total of $8.3 billion in writedowns for the fourth quarter, including charges for its services decision and a glitch-riddled military tanker, closing out one of the worst years in its century-long history.
2 Min Read
WASHINGTON (Reuters) - President Joe Biden’s administration has temporarily paused some pending arms sales to U.S. allies in order to review them, a U.S. State Department official said on Wednesday.
Reviews of this sort are typical for a new administration, but Donald Trump’s administration was doing deals down to the wire, including one for 50 stealthy F-35 jets made by Lockheed Martin as a side deal to the Abraham accords inked only moments before Biden was sworn into office.
The Department is temporarily pausing the implementation of some pending U.S. defense transfers and sales under Foreign Military Sales and Direct Commercial Sales to allow incoming leadership an opportunity to review, the official said.
Raytheon Technologies Reports Fourth Quarter 2020 Results, Announces 2021 Outlook
Exceeded 2020 cash conservation commitments
News provided by
Share this article
Share this article
WALTHAM, Mass., Jan. 26, 2021 /PRNewswire/ Raytheon Technologies Corp. (NYSE: RTX) reported fourth quarter 2020 and full year 2020 results, and announced its 2021 outlook.
Fourth quarter 2020
Sales of $16.4 billion; Adjusted sales of $16.6 billion
GAAP EPS from continuing operations of $0.10, which included $0.64 of net significant and/or non-recurring charges and acquisition accounting adjustments
Adjusted EPS of $0.74
Achieved $1.8 billion in cash conservation and $700 million in cost reduction actions
Robust defense backlog of $67.3 billion
Outlook for full year 2021
Sales of $63.4 - $65.4 billion
Adjusted EPS of $3.40 - $3.70
Dow Jones, Hang Seng, Nikkei 225 Outlook: Will the Rally Carry on?
DOW JONES, HANG SENG, NIKKEI 225, ASIA-PACIFIC MARKET OUTLOOK:
Dow Jones futures edged lower after registering a small loss on Monday
Reflation trade appears to have taken a pause as markets anticipate new fiscal stimulus to come in mid-March
The Hang Seng Index surged 2.4% and scrapped the 30,000 mark, reaching a fresh 20-month high
Fiscal stimulus, Earnings, Southbound flow to HK, Asia-Pacific Stocks Outlook:
US markets were mixed overnight with healthcare (+0.76%), consumer staples (+0.74%) and information technology (+0.55%) sectors outperforming. The Dow Jones Industrial Average underperformed the S&P 500 and Nasdaq 100 indices, reflecting a cooling appetite for reflation trades as investors returned to tech and staples seeking for certainty. Senate Majority leader Chuck Schumer said that he is aiming to pass the new fiscal stimulus plan by mid-March, which may have disappointed investors who had anticipat