Boeing pulls 2019 guidance, pauses share buybacks due to 737 Max uncertainty

Boeing announced Wednesday it will pause share buybacks and is withdrawing its full year 2019 financial forecast while it works through issues surrounding its 737 Max aircraft, whose software is suspected in two deadly crashes. Boeing said the previous guidance “does not reflect 737 MAX impacts,” adding that “new guidance will be issued at a future date” because of “the uncertainty of timing and conditions” for when the 737 Max planes will return to flight. The company’s presentation to sharehol


Boeing announced Wednesday it will pause share buybacks and is withdrawing its full year 2019 financial forecast while it works through issues surrounding its 737 Max aircraft, whose software is suspected in two deadly crashes. Boeing said the previous guidance “does not reflect 737 MAX impacts,” adding that “new guidance will be issued at a future date” because of “the uncertainty of timing and conditions” for when the 737 Max planes will return to flight. The company’s presentation to sharehol
Boeing pulls 2019 guidance, pauses share buybacks due to 737 Max uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: michael sheetz, source
Keywords: news, cnbc, companies, share, 737, boeing, pulls, guidance, max, fell, 2019, works, billion, aircraft, pauses, buybacks, trading, uncertainty


Boeing pulls 2019 guidance, pauses share buybacks due to 737 Max uncertainty

Boeing announced Wednesday it will pause share buybacks and is withdrawing its full year 2019 financial forecast while it works through issues surrounding its 737 Max aircraft, whose software is suspected in two deadly crashes.

Boeing said the previous guidance “does not reflect 737 MAX impacts,” adding that “new guidance will be issued at a future date” because of “the uncertainty of timing and conditions” for when the 737 Max planes will return to flight. The company’s presentation to shareholders noted the commercial airplane business had $1 billion in increased costs due to the 737 production line.

The company also delivered first-quarter earnings that were in line with Wall Street expectations while revenue was lighter than expected. Boeing’s cash flow fell nearly 10%, to $2.8 billion this quarter from $3.1 billion the same period last year, specifically citing lower 737 aircraft deliveries.

Shares of Boeing initially fell in premarket trading after the release but bounced back, trading up more than 1% from Tuesday’s close of $374.02 a share.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: michael sheetz, source
Keywords: news, cnbc, companies, share, 737, boeing, pulls, guidance, max, fell, 2019, works, billion, aircraft, pauses, buybacks, trading, uncertainty


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Avengers: Endgame box office records won’t include $300 million debut

Walt Disney is set to smash some major box-office records this weekend with its debut of “Avengers: Endgame.” Current industry predictions have the film earning between $260 million and $285 million in the U.S. during its debut. “Endgame” will have the highest opening weekend in U.S. history if it cracks $257.6 million, the current record held by “Avengers: Infinity War.” However, even with a record number of presale tickets and additional showings, “Endgame” probably won’t earn much more than t


Walt Disney is set to smash some major box-office records this weekend with its debut of “Avengers: Endgame.” Current industry predictions have the film earning between $260 million and $285 million in the U.S. during its debut. “Endgame” will have the highest opening weekend in U.S. history if it cracks $257.6 million, the current record held by “Avengers: Infinity War.” However, even with a record number of presale tickets and additional showings, “Endgame” probably won’t earn much more than t
Avengers: Endgame box office records won’t include $300 million debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah whitten, source, jesse grant, getty images entertainment, getty images
Keywords: news, cnbc, companies, tickets, records, endgame, weekend, avengers, include, office, 300, million, theaters, showings, set, sales, debut, box, reported, wont, film


Avengers: Endgame box office records won't include $300 million debut

Walt Disney is set to smash some major box-office records this weekend with its debut of “Avengers: Endgame.”

The film, the 22nd installment in the Marvel Cinematic Universe, is the long-awaited culmination of more than a decade of storytelling. Ahead of its release this weekend, advanced ticket sales have been booming.

Online ticketing websites Fandango and Atom Tickets have reported that the film has broken numerous records on their sites including, first-hour, first-day and first-week sales records.

On Tuesday, Fandango reported that 4,000 showings on its site had been sold out. To handle the demand, some theaters have even begun offering round-the-clock showings. Still, in some areas of the country, it’s difficult to find tickets, especially for a group of moviegoers.

Current industry predictions have the film earning between $260 million and $285 million in the U.S. during its debut. “Endgame” will have the highest opening weekend in U.S. history if it cracks $257.6 million, the current record held by “Avengers: Infinity War.”

However, even with a record number of presale tickets and additional showings, “Endgame” probably won’t earn much more than the predicted range. Although some have speculated that the highly anticipated film could reach or surpass the $300 million mark, it’s not likely.

“Mathematically, it’s very challenging,” Shawn Robbins, chief analyst at Boxoffice.com, said.

First and foremost, “Endgame” is not the only film in theaters this weekend. “The Curse of La Llorona,” “Breakthrough,” “Shazam!,” “Hellboy,” “Missing Link,” “Dumbo” and “Captain Marvel,” among others, are contracted to play over the weekend at theaters nationwide. Even if no one were to attend these screenings, theaters are still obligated to set aside screens for these films to play.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah whitten, source, jesse grant, getty images entertainment, getty images
Keywords: news, cnbc, companies, tickets, records, endgame, weekend, avengers, include, office, 300, million, theaters, showings, set, sales, debut, box, reported, wont, film


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Ford invests $500 million in electric truck maker Rivian

Ford said Wednesday it has invested $500 million in electric truck maker Rivian to build a new battery-powered electric vehicle for the Detroit manufacturer. The news comes just months after Rivian revealed two new products, an all-electric pickup and SUV, that analysts say could rival established truck manufacturers like General Motors and Ford. Industry executives even see it as real competition for electric car maker Tesla and its SUV and new crossover — the Model X and Model Y.


Ford said Wednesday it has invested $500 million in electric truck maker Rivian to build a new battery-powered electric vehicle for the Detroit manufacturer. The news comes just months after Rivian revealed two new products, an all-electric pickup and SUV, that analysts say could rival established truck manufacturers like General Motors and Ford. Industry executives even see it as real competition for electric car maker Tesla and its SUV and new crossover — the Model X and Model Y.
Ford invests $500 million in electric truck maker Rivian Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger, source, adam jeffery, ford motor co
Keywords: news, cnbc, companies, maker, rivian, electric, invests, million, ford, suv, vehicle, truck, model, 500


Ford invests $500 million in electric truck maker Rivian

Ford said Wednesday it has invested $500 million in electric truck maker Rivian to build a new battery-powered electric vehicle for the Detroit manufacturer.

The news comes just months after Rivian revealed two new products, an all-electric pickup and SUV, that analysts say could rival established truck manufacturers like General Motors and Ford. Industry executives even see it as real competition for electric car maker Tesla and its SUV and new crossover — the Model X and Model Y.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: emma newburger, source, adam jeffery, ford motor co
Keywords: news, cnbc, companies, maker, rivian, electric, invests, million, ford, suv, vehicle, truck, model, 500


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These are the 5 fastest production cars in the world right now — that cost up to $3.2 million

Several luxury automakers debuted cars with speeds up to 300 miles per hour at New York Auto Show in April 2019. Among others there’s the Koenigsegg’s Jesko, which has a top speed of 300 miles per hour and will debut in 2020. One hundred and twenty-five cars will be produced, and they have already sold out for around $3 million each, according to Motor Authority. And the Rimac C2 has a top speed of 258 miles per hour and costs around $2.1 million. Until these cars hit the streets, take a look at


Several luxury automakers debuted cars with speeds up to 300 miles per hour at New York Auto Show in April 2019. Among others there’s the Koenigsegg’s Jesko, which has a top speed of 300 miles per hour and will debut in 2020. One hundred and twenty-five cars will be produced, and they have already sold out for around $3 million each, according to Motor Authority. And the Rimac C2 has a top speed of 258 miles per hour and costs around $2.1 million. Until these cars hit the streets, take a look at
These are the 5 fastest production cars in the world right now — that cost up to $3.2 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jimmy im, michael cole, corbis sport, getty images, source
Keywords: news, cnbc, companies, right, production, twentyfive, world, cost, fastest, million, cars, hour, 300, theyre, 32, speed, york, miles


These are the 5 fastest production cars in the world right now — that cost up to $3.2 million

Several luxury automakers debuted cars with speeds up to 300 miles per hour at New York Auto Show in April 2019.

Among others there’s the Koenigsegg’s Jesko, which has a top speed of 300 miles per hour and will debut in 2020. One hundred and twenty-five cars will be produced, and they have already sold out for around $3 million each, according to Motor Authority. And the Rimac C2 has a top speed of 258 miles per hour and costs around $2.1 million. It will have a limited production run of 150 cars, to be delivered in 2020.

Until these cars hit the streets, take a look at the top five fastest production cars out there now — that means they’re street legal and were offered for sale to the public.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jimmy im, michael cole, corbis sport, getty images, source
Keywords: news, cnbc, companies, right, production, twentyfive, world, cost, fastest, million, cars, hour, 300, theyre, 32, speed, york, miles


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GM wanted too much from EV start-up Rivian, opening door for Ford’s $500 million investment

The Rivian platform will be used for a different product line, said Joe Hinrichs, Ford’s president of automotive operations. Industry analysts say the Rivian platform could eventually be used for other electric vehicles at Ford to help maximize economies of scale. But there is at least one obstacle that could limit future applications, said Brinley, of IHS Markit, the potential capacity of Rivian’s assembly plant. The start-up last year acquired the old Mitsubishi assembly plant in Normal, Illin


The Rivian platform will be used for a different product line, said Joe Hinrichs, Ford’s president of automotive operations. Industry analysts say the Rivian platform could eventually be used for other electric vehicles at Ford to help maximize economies of scale. But there is at least one obstacle that could limit future applications, said Brinley, of IHS Markit, the potential capacity of Rivian’s assembly plant. The start-up last year acquired the old Mitsubishi assembly plant in Normal, Illin
GM wanted too much from EV start-up Rivian, opening door for Ford’s $500 million investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: paul a eisenstein, adam jeffery, source, paul eisenstein cnbc
Keywords: news, cnbc, companies, gm, door, assembly, working, vehicle, platform, wanted, investment, fords, vehicles, ev, plant, ford, products, opening, electric, startup, million, rivian


GM wanted too much from EV start-up Rivian, opening door for Ford's $500 million investment

The first generation of Ford’s electrified vehicles, which includes full battery power and hybrids, sacrificed passenger and cargo space to make room for batteries and other components. That is a problem that the automaker aims to address as it gets ready to roll out a second generation of products that also will deliver more than 200 miles in range, or at least double what products like the current Ford Focus EV can manage between charges.

“Ford is going to use Rivian’s flexible skateboard platform to develop an all-new, next-generation battery-electric vehicle,” Hackett told reporters.

But neither he nor other Ford and Rivian officials would discuss specifically what sort of vehicle they are working on. They noted that Ford is already well along in the development of a high-performance electric SUV that is set to debut next year, as well as an all-electric version of the popular Ford F-150 pickup.

The Rivian platform will be used for a different product line, said Joe Hinrichs, Ford’s president of automotive operations. Industry analysts say the Rivian platform could eventually be used for other electric vehicles at Ford to help maximize economies of scale. But there is at least one obstacle that could limit future applications, said Brinley, of IHS Markit, the potential capacity of Rivian’s assembly plant.

The start-up last year acquired the old Mitsubishi assembly plant in Normal, Illinois. The facility has a production capacity of about 250,000 vehicles — or platforms — annually, according to Scaringe. Rivian itself is hoping to sell between 70,000 and 80,000 of its R1T and R1S models annually, and it is working up additional products that could eat up even more of that capacity.

Rivian is also developing vehicles for Amazon. It announced a separate, $700 million investment deal in February with a consortium led by the online retailer. Specific plans have not been revealed, but the electric car maker is believed to be working on some sort of delivery truck for Amazon, said Sam Abuelsamid, an analyst at Navigant Research. And they could use autonomous driving technology developed by two self-driving start-ups Amazon has also invested in.

Rivian will use its Normal plant to produce the platforms Ford plans to use. They will then be shipped to a Ford assembly plant for the rest of the assembly process — though the Detroit automaker did not offer further details. But the number of skateboard vehicle frames available to Ford could be limited unless Rivian expands capacity or lets Ford produce them elsewhere, analysts said.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: paul a eisenstein, adam jeffery, source, paul eisenstein cnbc
Keywords: news, cnbc, companies, gm, door, assembly, working, vehicle, platform, wanted, investment, fords, vehicles, ev, plant, ford, products, opening, electric, startup, million, rivian


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Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse


Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach.

At a Time Magazine conference on Tuesday, Cook said that Europe’s GDPR (General Data Protection Regulation), which aimed to give consumers greater control over their data, was a good first step though it doesn’t go far enough. He’s skeptical of the U.S. pushing in the right direction because of the anti-regulation positions taken by American businesses.

“I’m not confident, is the short version of the statement,” Cook said, when asked how confident he is that the U.S. would come up with smart, non-destructive regulations. “I think this an example where Europe is more likely to come up with something. GDPR isn’t ideal but GDPR is a step in the right direction.”

Cook has been stressing the need for regulation of late, which is often self-serving because unlike tech giants such as Google and Facebook, Apple’s existing business wouldn’t be threatened by enhanced privacy requirements. In an op-ed in Time in January, Cook called on Congress to pass “comprehensive federal privacy legislation,” a theme he continued to stress at the conference on Tuesday.

“We all have to be intellectually honest,” Cook said. “We have to admit that there’s something we’re doing isn’t working and that the technology needs to be regulated. There are now too many examples where ‘no rails’ have resulted in great damage to society.”

While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. “Therefore there’s lots of gravity around not doing something.”

Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse” and requiring all data brokers to register.

In Europe, both Google and Facebook have faced significant challenges related to privacy. Facebook was embroiled in a scandal around how Cambridge Analytica, a consultancy, gained the information of 87 million Facebook users. Google has been force to comply with EU laws around “the right to be forgotten,” which require it to delete personal information about users in certain circumstances.

Because the majority of Apple’s revenue comes from selling computer equipment and phones, not by targeting and selling ads, it would need to make fewer changes if comprehensive privacy regulations were enacted.

“I am hopeful and we are advocating strongly for regulation because I do not see another path at this point,” Cook said.

WATCH: Walt Mossberg on Apple’s need for big innovation


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


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NY auto show previews Tesla’s competition with more than 40 electric cars

It wouldn’t be much of a stretch to call this year’s New York International Auto Show “electrifying,” not when you consider that more than 40 vehicles using some form of electric power are on display at the Jacob Javits convention center. That includes not only conventional hybrids such as the Toyota Prius, but a long list of more advanced technologies, including plug-in hybrids and pure battery-electric vehicles. And automakers as diverse as Ford, Hyundai and Daimler AG announced plans to roll


It wouldn’t be much of a stretch to call this year’s New York International Auto Show “electrifying,” not when you consider that more than 40 vehicles using some form of electric power are on display at the Jacob Javits convention center. That includes not only conventional hybrids such as the Toyota Prius, but a long list of more advanced technologies, including plug-in hybrids and pure battery-electric vehicles. And automakers as diverse as Ford, Hyundai and Daimler AG announced plans to roll
NY auto show previews Tesla’s competition with more than 40 electric cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: paul a eisenstein, adam jeffery, anadolu agency, getty images, tesla via reuters, bloomberg, source
Keywords: news, cnbc, companies, hybrids, using, theres, previews, yearsthe, teslas, auto, toyota, ny, vehicles, tremendous, 40, electric, wouldnt, york, trade, competition, cars


NY auto show previews Tesla's competition with more than 40 electric cars

It wouldn’t be much of a stretch to call this year’s New York International Auto Show “electrifying,” not when you consider that more than 40 vehicles using some form of electric power are on display at the Jacob Javits convention center.

That includes not only conventional hybrids such as the Toyota Prius, but a long list of more advanced technologies, including plug-in hybrids and pure battery-electric vehicles. And automakers as diverse as Ford, Hyundai and Daimler AG announced plans to roll out dozens more of those plug-based models over the next several years.

“The industry is going through tremendous change, and there’s no better example of that than the number of electrified vehicles now coming to market,” said Mark Schienberg, head of the Greater New York Automobile Dealers Association, the trade group that organizes the annual show in New York that runs through Sunday.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: paul a eisenstein, adam jeffery, anadolu agency, getty images, tesla via reuters, bloomberg, source
Keywords: news, cnbc, companies, hybrids, using, theres, previews, yearsthe, teslas, auto, toyota, ny, vehicles, tremendous, 40, electric, wouldnt, york, trade, competition, cars


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Make sure your kids grow up smart about money with these strategies

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.


Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Is it reasonable to expect a first-grader to understand the future consequence of present decisions? In fact, you can teach kids to understand money, whether they’re 3 or 13. After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent.
Make sure your kids grow up smart about money with these strategies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
Keywords: news, cnbc, companies, kids, parent, future, money, understand, sure, wideeyed, theyre, financial, survey, teach, grow, strategies, usadults, smart


Make sure your kids grow up smart about money with these strategies

Money is big, and it’s all around us.

Adults, who have learned from experience about irresistible sales pitches, can find it hard to make good financial decisions. Imagine what it’s like for a wide-eyed 8-year-old to confront a dizzying array of choices. We know what can happen in the future if we don’t save.

Is it reasonable to expect a first-grader to understand the future consequence of present decisions?

In fact, you can teach kids to understand money, whether they’re 3 or 13.

And who better than you to deliver these lessons? After all, the family is the first place most of us learn about money. Over a third of respondents in the Invest in You Savings Survey said their financial role model was a parent. Men had a slight edge as the go-to parent: 19% of participants said it was their dad, and 18% said it was their mom.

Thomas Henske, a certified financial planner with Lenox Advisors, likes this metaphor.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: jill cornfield, source, wendy juvenal mays, nicholas hartford, -thomas henske, cfp, lenox advisors
Keywords: news, cnbc, companies, kids, parent, future, money, understand, sure, wideeyed, theyre, financial, survey, teach, grow, strategies, usadults, smart


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More student loan borrowers are getting their tax refunds seized

As she scanned the letter’s black type, Alexis Patterson felt herself go numb. “The U.S. Department of Treasury … applied all or part of your payment to delinquent debt that you owe,” it read. Patterson stopped reading. The single mother would not receive her $3,063 tax refund, including her child tax credit. The government would instead apply the money to her past-due student loan account.


As she scanned the letter’s black type, Alexis Patterson felt herself go numb. “The U.S. Department of Treasury … applied all or part of your payment to delinquent debt that you owe,” it read. Patterson stopped reading. The single mother would not receive her $3,063 tax refund, including her child tax credit. The government would instead apply the money to her past-due student loan account.
More student loan borrowers are getting their tax refunds seized Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: annie nova, source, alexis patterson, akilah mccadney
Keywords: news, cnbc, companies, student, single, stopped, tax, loan, refund, getting, type, refunds, borrowers, stayeverything, treasury, patterson, thing, seized


More student loan borrowers are getting their tax refunds seized

As she scanned the letter’s black type, Alexis Patterson felt herself go numb. “The U.S. Department of Treasury … applied all or part of your payment to delinquent debt that you owe,” it read.

Patterson stopped reading. One thing mattered now. The single mother would not receive her $3,063 tax refund, including her child tax credit. The government would instead apply the money to her past-due student loan account.

She and her 11-year-old daughter, Ophelia, have been homeless over the last few months in Portland, Oregon. Her refund, she hoped, would help them secure a place to stay.

“Everything just fell out from beneath me,” Patterson, 47, said.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: annie nova, source, alexis patterson, akilah mccadney
Keywords: news, cnbc, companies, student, single, stopped, tax, loan, refund, getting, type, refunds, borrowers, stayeverything, treasury, patterson, thing, seized


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