A Boeing plane in production earlier this year. (Jennifer Buchanan / AFP via Getty Images)

Boeing has lost $28 billion since 737 MAX crashes

For decades, Boeing was a profit machine. Two plane crashes triggered a string of problems the company has yet to recover from.

Nate Becker

7/31/24 10:37AM

Boeing announced a new CEO on Wednesday morning, marking the second time the jet maker has swapped out its top executive since two of its 737 MAXes crashed, killing hundreds of people on board. Since then, the company has been mired in problems, and its bottom line has been bathed in red ink.

Alongside the CEO announcement, Boeing said it posted a loss of $1.44 billion for the latest quarter. That brings the total amount of net losses the company has incurred since the second quarter of 2019 to a staggering $27.8 billion, according to FactSet data.

Boeing has been in dire straits for years following the two 737 MAX crashes, which happened in October 2018 and March 2019. Then in January 2024, a section of a Boeing Alaska Airlines jet blew out. Terrifying videos of the incident flooded the internet and intense scrutiny of the company’s manufacturing processes followed. The Justice Department opened an investigation into the issue.

The company also agreed earlier this month to plead guilty to misleading regulators in the run-up to the two 737 MAX crashes.

Kelly Ortberg will step in after Dennis Muilenburg and David Calhoun were unable to set the company back on course. It’s a job that was hard to hire for: The Wall Street Journal reported in June that “several high-profile candidates” had turned the company down.

Now Ortberg faces the enormous task of pulling Boeing out of the muck of all its mounting issues: a quality crisis, production slowdowns, labor negotiations, and a yearslong reputation problem.

Nia Warfield

Shopify and Etsy pop as OpenAI brings instant checkout to ChatGPT

Shares of the e-commerce companies jumped after OpenAI said ChatGPT users can now turn searches into instant purchases.

Shopify sign on their branch office building in Toronto.

Tom Jones

GRANDE EXIT

Starbucks is shutting around 1% of its stores in North America

The chain is also axing 900 non-retail jobs.

A Starbucks Coffee shop closed during the Covid-19 crisis.

Max Knoblauch9/26/25

“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabia’s Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EA’s most intimidating competitor, “Grand Theft Auto” publisher Take-Two Interactive, climbed nearly 5% on the report.

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In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EA’s most intimidating competitor, “Grand Theft Auto” publisher Take-Two Interactive, climbed nearly 5% on the report.

$12.5B 🛍️

Max Knoblauch9/26/25

Uber’s relying less on pad thai from 0.8 miles away. The company expects gross bookings (what customers spend) of non-restaurant deliveries to grow to $12.5 billion by the end of the year, according to reporting by Bloomberg.

The new forecast marks a 25% boost from the $10 billion estimate Uber shared in May for the delivery of groceries and items from retail partners like Best Buy.

Through the first half of the year, Uber’s total delivery gross bookings climbed to more than $42 billion, up about 18% year over year. That nearly matches the gross bookings of its ride-hailing business in the same period.

J. Edward Moreno

9/26/25

Why pharma stocks aren’t getting hit by new tariff threats

Most European drugmakers have announced some sort of investment in the US since Trump’s tariff threats began earlier this year. And some seem to have imported plenty of product to get ahead of tariffs anyway.

Pharmaceutical Company Eli Lilly Headquarters

Boeing has lost $28 billion since 737 MAX crashes

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