Amazon scales back cargo flying as demand cools, contractor says

An Amazon-branded Boeing 767 freighter, nicknamed Amazon One, flies over Lake Washington during the Seattle Seafair Air Show on Aug. 5, 2016 in Seattle. Getty Images One of Amazon‘s key air cargo operators said Monday that the e-commerce giant is scaling back on flights this year, citing lower demand and slower economic growth. Air Transport Services Group, which runs a significant portion of Amazon’s air cargo fleet, said it expects to operate Boeing 767 freighters dedicated to servicing Amazon and DHL at reduced schedules and less flight time per aircraft.…

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FAA proposes more than $1 million fine on United Airlines over preflight safety checks

United Airlines Boeing wide body 777-200 aircraft as seen during take off and flying phase, passing in front of the air traffic control tower while the plane is departing from Amsterdam Schiphol Airport AMS towards Houston IAH in the United States of America as flight UA21.  Nicolas Economou | Nurphoto | Getty Images The Federal Aviation Administration said Monday that it is proposing a more than $1.1 million penalty against United Airlines for allegedly failing to perform required fire-system safety checks on its Boeing 777s. United didn’t immediately comment. The…

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Inside the ‘Wormhole,’ Relativity Space’s monster factory 3D-printing reusable rockets

The exterior of “The Wormhole” factory. Relativity Space LONG BEACH, California – It was a few days into the new year yet Relativity Space’s factory was anything but quiet, a din of activity with massive 3D printers humming and the clanging of construction ringing out. Now about eight years on from its founding, Relativity continues to grow as it pursues a novel way of manufacturing rockets out of mostly 3D-printed structures and parts. Relativity believes that its approach will make building orbital-class rockets much faster than traditional methods, requiring thousands…

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Boeing plans to add a new 737 Max production line to meet strong demand

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing said it plans to add a fourth 737 Max production line in the second half of next year as it targets higher output of its best-selling plane, an executive told staff on Monday. The new line will be housed in Boeing’s massive Everett, Washington, factory, where it has been reworking some of its 787 Dreamliners…

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Jim Cramer picks his standout stocks in 4 bull market industries

CNBC’s Jim Cramer on Wednesday offered investors a list of bull markets he’s identified as companies report quarterly financial results. “Now that we are already one-fifth of the way through earnings season, we can start identifying the winners and losers,” he said, adding, “We have some legitimate, sizable bull markets going on here, and they show no signs of letting up. And I want you in them.” Cramer also highlighted the companies that reported solid quarters and have stocks that could be buys.  Here are the four industries with bull…

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Stocks making the biggest moves midday: Sunrun, U.S. Bancorp, Alphabet, AT&T and more

Shoppers shop at AT&T in the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images Check out the companies making the biggest moves midday: News Corp, Fox — News Corp rallied 5.4%, while Fox news gained more than 2%, after Rupert Murdoch called off plans to merge the two companies. AT&T — The telecommunications giant rallied 5.4% after reporting more wireless subscribers than expected for the fourth quarter. Boeing— The air carrier fell slightly after reporting a loss for the fourth…

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Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport. Jan Woitas | Picture Alliance | Getty Images Boeing generated positive free cash flow last year for the first time since 2018 thanks to a rebound in aircraft sales and deliveries but labor and supply shortages weighed on its earnings. Airlines and aircraft manufacturers have benefitted from a sharp recovery in air travel, one of the most affected industries during the pandemic. Boeing generated about $3 billion in cash flow in the fourth quarter, higher than analyst forecasts, and…

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5 things to know before the stock market opens Wednesday

People walk past the New York Stock Exchange (NYSE) on Wall Street on July 12, 2022 in New York City. Angela Weiss | AFP | Getty Images Here are the most important news items that investors need to start their trading day: 1. A lot more earnings to go Markets have kept their heads above water so far this month, even as economic data point to a potential recession and corporate earnings have been mixed, at best. On the latter point, more than 70 companies listed on the S&P 500…

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Amazon expands air cargo service to India even as company cuts costs

A wide body aircraft emblazoned with Amazon’s Prime logo lands at Lehigh Valley International Airport in Allentown, Pennsylvania, U.S. December 20, 2016. Picture taken December 20, 2016. To match Insight AMAZON.COM-SHIPPING/ REUTERS/Mark Makela REUTERS/Mark Makela Amazon on Monday announced it’s bringing its air cargo operations to India, marking fresh growth for the company’s logistics arm even as it looks to cut costs in other divisions. The e-retailer is using two Boeing 737-800 aircraft flown by Quikjet Cargo Airlines to ship packages across Hyderabad, Bengaluru, Delhi and Mumbai. Amazon Air will…

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5 things to know before the stock market opens Monday

Traders work on the floor of the New York Stock Exchange.  NYSE Here are the most important news items that investors need to start their trading day: 1. Hanging on The three major stock indices are still in positive territory this month despite last week’s choppy results. Stocks closed Friday on a high note, with the Nasdaq pulling out a gain for the week, even as the Dow and S&P 500 slid. Investors will parse through a big slate of earnings this week (more on this below) as they look…

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