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Boeing climbs as FAA expected to ease safety check process, speeding up deliveries

Shares of Boeing are taking off in premarket trading on Friday, following a report that the plane maker could soon face fewer obstacles in delivering its aircraft to customers.

According to a Wall Street Journal report, the FAA plans to give Boeing the ability to perform final safety checks on its planes. The agency will also hike the production cap on the 737 Max to 42 jets a month, up from 38.

The move is another sign of recovery for Boeing, which has struggled through years of safety issues, regulator scrutiny, and delivery delays.

The plane maker on Friday also announced that its secured two more hefty orders, following the $8.5 billion Uzbekistan Airways deal earlier this week. Turkish Airlines will buy 225 Boeing planes, while Norwegian Air signed a deal to order 30 737 planes. Precise financial details of the deals werent disclosed.

The move is another sign of recovery for Boeing, which has struggled through years of safety issues, regulator scrutiny, and delivery delays.

The plane maker on Friday also announced that its secured two more hefty orders, following the $8.5 billion Uzbekistan Airways deal earlier this week. Turkish Airlines will buy 225 Boeing planes, while Norwegian Air signed a deal to order 30 737 planes. Precise financial details of the deals werent disclosed.

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Intel soars after buying back stake in Irish manufacturing facility

Intel is spending $14.2 billion to take back full ownership of a manufacturing facility in Ireland, the company announced on Wednesday.

“The agreement reflects Intel’s continued business momentum underpinned by the growing and essential role CPUs play in the era of AI,” according to the company’s press release.

Shares are soaring, up around 6% in early trading.

Investors appear to be viewing this measure as a concrete sign that Intel’s turnaround plan is entering a new phase — growth mode, powered by AI — after years of sluggish sales forced a focus on cost controls.

The chipmaker had previously sold a 49% stake in this fab for $11.2 billion to Apollo Global Management in order to raise cash for other investment opportunities, including its 18A manufacturing process in the US.

Intel intends to fund the transaction through available cash and an additional $6.5 billion in debt.

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Nike craters after issuing weak revenue guidance

Sportswear kingpin Nike is tumbling on Wednesday morning after saying it doesn’t expect to grow sales this year.

On its fiscal Q3 earnings call, management said that revenue is expected to drop 2% to 4% in the current quarter, and that overall they “expect revenues to be down low-single-digits versus the prior year, with gains in North America offset by declines in Greater China.” That’s a disappointment to analysts, who were anticipating 2% growth in Q4 and even more in the latter stages of the year, per Bloomberg.

Nike’s Q3 sales in China — where the company earns about 15% of its revenue — fell 7% to $1.62 billion. The company had issued weak guidance for this quarter considering continued softness in the region. That’s its seventh straight quarter of sales declines in the market. While this quarter’s was decline was less than feared, management warned that more pain is in the offing.

Nike’s turnaround effort “is complex work, and parts of it are taking longer than I’d like,” said CEO Elliott Hill.

Nike’s fiscal Q3 results (the three months ended February) were solid at the headline level:

  • Earnings of $0.35 per share, comfortably above the Wall Street consensus estimate of $0.29 per share compiled by FactSet.

  • $11.28 billion in total revenue, roughly in line with the $11.26 billion estimate.

But the gloomy sales outlook has Wall Street analysts souring on the stock:

  • JPMorgan downgraded the shares to “neutral” from “overweight” and cut its price target to $52 from $86.

  • Citi reduced its target price to $53 from $65,

  • Stifel lowered its price target to $56 from $65,

  • Truist reduced its price target to $57 from $69, and

  • Barclays cut its target price to $67 from $73.

Nike shares are trading near decade lows this month, as tariffs continue to weigh on profits and shipping costs rise amid the war with Iran. As of Tuesday’s close, the stock was down 17% year to date.

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