S&P 500 steady as Meta rises on AI goals and Boeing warns of losses. Mixed economic data keeps traders cautious ahead of the Federal Reserve meeting.
Boeing hasn't posted an annual profit in six years. Transcript: Conway Gittens: Investors are taking some money off the table one day after the S&P 500 closed above 6,100 for the first time in history.
Boeing Co (NYSE:BA, ETR:BCO) expects a cash flow loss of $3.5 billion for the fourth quarter due to the impact of the International Association of Machinists (IAM) work stoppage and workforce reductions. The airplane manufacturer reported preliminary fourth quarter results after markets closed on Thursday.
The size of the loss Boeing warned of may have been unexpected, but it wasn't a shock to Wall Street.
Boeing (BA) shares are falling in premarket trading after the plane maker projected a much wider-than-estimated fourth-quarter loss following a nearly two-month strike that crippled production, as well as charges around its defense segment and staff cuts.
Billionaire Elon Musk scrutinized the red tape entangling the Air Force One revamp in late December, according to people familiar with the matter. Meanwhile, Boeing Co. suffered another quarter of fresh charges and losses as the company announced sales at $15.2 billion, less than the $16.76 billion expected by Wall Street.
Boeing reported fourth-quarter revenue that missed analyst estimates after a bruising strike. The company, citing preliminary financial results, said sales were $15.2 billion, less than the $16.76 billion expected by Wall Street.
Boeing's fourth quarter turned out much worse than Wall Street expected.
Sheila Kahyaoglu, Jefferies Aerospace & Defense analyst, joins 'Closing Bell Overtime' to talk Boeing's pre-reporting Q4 losses.
CNBC's Phil LeBeau joins 'Closing Bell Overtime' with breaking news on Boeing.
Boeing's preliminary quarterly results show steeper losses and lower revenue for the aerospace and defense company's fourth quarter.
Boeing expects to report a larger-than-expected loss when it unveils fourth-quarter results next week, the financially strapped U.S. planemaker said on Thursday, due to charges at its defense unit and losses from a crippling strike.