Business and Finance News - 7.23.24

Korean Air ordered 40 Boeing wide-body jets, including 20 777X and 20 787-10 Dreamliners, with an option for 10 more Dreamliners. This order, announced at the Farnborough Airshow, is a significant vote of confidence in Boeing despite its recent delays and manufacturing issues. (CNBC)

*Boeing (BA) - Boeing is a leading American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide.

*Korean Air - Korean Air is a major airline that provides passenger and cargo transportation services, operating an extensive network of domestic and international flights

CrowdStrike shares fell an additional 9% on Monday following an 11% drop on Friday, as analysts downgraded the stock due to the disruptions caused by a faulty software update. Analysts expressed concerns that the incident would lead to delays in new deals and potentially impact closely contested deals and renewals. (CNBC)

*CrowdStrike (CRWD) - CrowdStrike is a cybersecurity company that provides various services and products to protect businesses and organizations from digital threats.

Reddit has partnered with the NFL, NBA, MLB, PGA Tour, and NASCAR to boost revenue by showing game highlights, behind-the-scenes videos, and AMA sessions with players. Advertisers like Samsung, Ford, and FanDuel will show ads alongside this content, with revenue shared between Reddit and the sports leagues. (The Verge)

*Reddit (RDDT) - Reddit is a social media platform and online community where users can post content, engage in discussions, and share information across a wide range of topics and interests, organized into user-created and moderated communities called "subreddits."

Ryanair expects summer fares to be much lower than last year after profits fell by almost 50% due to frugal passengers and the timing of Easter holidays. The airline anticipates more discounts and lower fares between July and September, with last-minute bookings being crucial for summer performance. (BBC)

*Ryanair (RYAAY) - Ryanair is a low-cost airline that provides affordable passenger air travel services across Europe and other regions, known for its extensive network of routes, cost-efficient operations, and no-frills service model.

Shares of Verizon fell on Monday after the company reported second-quarter revenue of $32.8 billion, missing the expected $33.07 billion. However, Verizon matched expectations with adjusted earnings of $1.15 per share. (Yahoo! Finance)

*Verizon (VZ) - Verizon is a telecommunications company that provides a wide range of services, including wireless communication, broadband internet, and digital television, as well as enterprise solutions.

Here’s how the markets closed yesterday:

• Dow Jones Industrial Average: 40,415.44 +127.91 (+0.32%)

• S&P 500: 5,564.41 +59.41 (+1.08%)

• Nasdaq Composite: 18,007.57 +280.63 (+1.58%)

• Russell 2000: 2,220.18 +35.83 (+1.64%)

• CBOE Volatility Index (VIX): 14.90 -1.62 (-9.81%)

• Bitcoin (BTC): $68,241.50 (1:15PM PST on 7/22/24)

• Ethereum (ETH): $3,493.82 (1:15PM PST on 7/22/24)

Here’s how leading market ETFs did yesterday:

• SPDR S&P 500 ETF Trust (SPY): 554.65 +5.66 (+1.03%)

• iShares Core S&P 500 ETF (IVV): 557.71 +5.73 (+1.04%)

• Vanguard S&P 500 ETF (VOO): 509.79 +5.24 (+1.04%)

• Vanguard Total Stock Market ETF (VTI): 273.89 +2.83 (+1.04%)

• Invesco QQQ Trust (QQQ): 482.32 +7.08 (+1.49%)

Here’s how the THE SUPER SIX STOCKS did yesterday:

• Apple (AAPL) [3.434T]: 223.96 -0.35 (-0.16%)

• Microsoft (MSFT) [3.292T]: 442.94 +5.83 (+1.33%)

• Nvidia (NVDA) [3.044T]: 123.54 +5.61 (+4.76%)

• Alphabet (GOOG) [2.266T]: 183.35 +3.96 (+2.21%)

• Amazon (AMZN) [1.90T]: 182.55 -0.58 (-0.32%)

• Meta Platforms (META) [1.236T]: 487.40 +10.61 (+2.23%)