Boeing's Latest Emergency

And, Shell vs. Saudi Aramco in LNG Deal.

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Today is Monday, April 8, 2024.

The Early Bird Index today is 72.13.

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Boeing's Latest Emergency

Just when you thought Boeing (NYSE: BA) would turn things around in 2024, it now faces another safety debacle.

Details: On Sunday, an engine cover on a Boeing 737-800 airplane run by Southwest Airlines (NYSE: LUV) fell off during takeoff in Denver. The flight safely returned to Denver and no one was injured. The Federal Aviation Administration is investigating the incident.

Background: It’s been a terrible year for Boeing. There have been numerous safety incidents (as documented by Early Bird Prime), which forced Boeing’s CEO to step down.

Stock Price: Boeing is down 27% so far in 2024. Southwest is down 0.49% this year.

Final Thoughts: Keep an eye on Boeing’s stock price today because it could take another hit. There are still so many safety questions about Boeing.

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Notable Earnings Today: N/A.

Notable IPOs Today: SolarBank Corporation Common Stock (Nasdaq: SUUN), Generation Asia I Acquisition Limited Class A Ordinary Shares (Nasdaq: GAQ).

Notable Equity Crowdfunding Campaigns Ending Today: Shacksbury (StartEngine), KarbonPay (Republic), Arrive (PicMii Crowdfunding), Madco3d (StartEngine).

Notable Economic Events Today: NY Fed 1-Year Consumer Inflation Expectations (11:00 a.m. ET).

Shell vs. Saudi Aramco in LNG Deal

The energy giants Shell (NYSE: SHEL) and Saudi Aramco, known as Saudi Arabian Oil (TADAWUL: 2222), are reportedly competing for a big acquisition.

Details: Reuters reported on Sunday that both energy giants are negotiating to buy the assets of Temasek-owned liquefied natural gas (LNG) trading firm Pavilion Energy. The report said that the due diligence process is already complete. The assets could be worth more than $2 billion. 

Powering the Story: Both companies say the deal would improve their LNG portfolios.

Background: On Friday, Shell raised its first-quarter gas guidance. Last month, Saudi Aramco boosted its dividend by 30%.

Stock Price: Shell is up 8% in 2024 while Saudi Aramco is down 8%.

Final Thoughts: The winner of this deal gains a big advantage in the LNG industry.

Kimberly-Clark Offloads Personal Protective Equipment Business

Kimberly-Clark (NYSE: KMB), which produces paper-based consumer products such as Kleenex and Cottonelle, sold its personal protective equipment business to Ansell (ASX: ANN) on Sunday.

Details: Ansell will pay Kimberly-Clark $640 million for the business unit. The deal should close by September.

Stock Price: Kimberly-Clark is up by 3.23% this year. Meanwhile, Ansell is down 5.42%.

Final Thoughts: Kimberly-Clark’s next financial results are scheduled for April 23. The company is trying to rebound after a disappointing 2023.

Winner: Stock Funds Zoom to 9.1% Gain in First Quarter (Wall Street Journal)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.