Dow went up 132 taking it over 38K again, advancers over decliners better than 3-2 & NAZ advanced 147. The MLP index gained 2+ to 261 & the REIT index was off 2 to 381. Junk bond funds were higher along with stocks & Treasuries were about even. Oil was up 1 to the 75s & gold fell 9 to 2015.
AMJ (Alerian MLP Index tracking fund)
Netflix adds 13.1 million subscribers, tops revenue estimates as membership push gains steam
The head of the Federal Aviation Administration (FAA) is vowing that the agency will have "boots on the ground" at Boeing's (BA), a Dow stock, 737 MAX factory until it feels "comfortable" that its quality control system is working. The
statements from administrator Mike Whitaker come as 737-9 MAX planes
remain grounded by the FAA in the wake of a Jan 5 incident in which one
of the aircraft operated by Alaska Airlines (ALK) lost a passenger door plug
while in flight. The FAA has since announced an "audit involving the
Boeing 737-9 MAX production line & its suppliers to evaluate BA's
compliance with its approved quality procedures." "We've got a
lot of inspectors on the ground, visually inspecting the aircraft as it
comes through," Whitaker said. "We're shifting from more
of an audit approach to a direct inspection approach." "Until
we're comfortable that the [quality control] system is working
properly... we're going to have boots on the ground," he reportedly
added. Whitaker also said the FAA has sent a "couple of dozen" inspectors to
look over the planes & that the inspections have "been longer" than
the estimated 4-8 hours per aircraft. "We've required a lot of measurements," Whitaker said. "Once the
area's exposed, we want to understand bolt tensions and gaps and things
of that nature. So we've required more data than would normally be the
case because we really wanted to understand the issue." Meanwhile, CEO Dave Calhoun is reportedly planning to meet with a group of senators on Capitol Hill this week. BA stock was up 2.46.
FAA reportedly supervising Boeing 737 MAX factory until quality control reached
eBay (EBAY) will begin reducing its workforce
by approximately 9% (1000 full-time roles) in efforts to
"better position eBay for long-term, sustainable growth," the company
announced. Pres &
CEO Jamie Iannone said the "fundamental changes" put into place over the
past 3 years have "accelerated the pace of innovation" & resulted
in increased customer satisfaction & improved market growth, but "there is more" the company can do to be successful. "We
need to better organize our teams for speed – allowing us to be more
nimble, bring like-work together, and help us make decisions more
quickly," Iannone wrote. Described as the "most significant and
toughest of the decisions," Iannone said the company will reduce its
current full-time workforce by an estimated 9%, which is approximately
1000 roles. eBay will also be cutting down on the number of contracts
it has within its alternate workforce. "These are not actions we take lightly – and we recognize the impact
they will have on all eBayers. We have to say goodbye to people who have
made so many important contributions to the eBay community and culture,
and this isn't easy," Iannone wrote. The company's decision to eliminate some roles
was made after it became clear the "overall headcount and expenses have
outpaced" EBAY's growth. Going forward, some teams will be consolidated & aligned with organizational changes that improve experiences better meet customers needs. The stock went up 18¢.
eBay to eliminate 1,000 roles, reducing full-time workforce by 9%: 'This is not easy'
Highlighted by the NFLX report above, tech stocks are clearly in demand. Additionally, Dow is hoping to set another record over 38K.Dow Jones Industrials
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