Boeing announces losses, Covid beats the market and Ford is back.
Boeing announced a loss of $754 million, for the third quarter as revenue fell $5.8 billion, or 29%. The airline manufacturer is laying off another 7,000 people despite previously cutting 19,000 jobs earlier this year. Click here to read more.
As coronavirus cases across the U.S. and Europe continue to rise, the markets have decided to go in the opposite direction. Yesterday, the Dow dropped 3% bringing it down to 5.9% in the last 5 days. As Germany, France, Belgium and the U.K contemplate a fresh round of lockdowns, investors are worried about what that would mean for the fragile recovery. Click here to read more.
Strong demand for Ford’s trucks has led to a much larger profit than analysts were expecting. The company earned $2.6 billion nearly double the $1.4 billion it earned in the same quarter last year. It was far above the $932 million profit that analysts had forecast for the quarter. Click here to read more.
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