Boeing's New 737 MAX Glitch

Plus, Avalanche's upcoming release.

Today is Monday, February 5, 2024.

The Early Bird Index today is 65.98.

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Boeing's New 737 MAX Glitch

Just when investors thought that Boeing (NYSE: BA) was finally going to turn things around, more bad news reportedly emerged.

Details: Reuters reported on Sunday that Boeing will have to do more work on about 50 undelivered 737 MAX airplanes.

 Also: The report said that supplier Spirit AeroSystems (NYSE: SPR) found two mis-drilled holes on some fuselages.

Background: The news comes weeks after a Boeing 737 MAX 9 aircraft suffered a blowout while in the air. This safety issue forced Boeing to suspend its 2024 guidance.

Stock Price: Boeing’s stock is down 15% since that incident last month.

Final Thoughts: Boeing can’t catch a break. Will the stock continue to drop? Or will Boeing fix these safety issues?

Stock Market RundownYour daily 3-minute morning read with an amusing angle on business and the stock market. Learn, laugh, stun your friends with your knowledge.


Notable Earnings Today: McDonald's (NYSE: MCD), Caterpillar (NYSE: CAT), Palantir Technologies (NYSE: PLTR), ON Semiconductor (Nasdaq: ON), Vertex Pharmaceuticals (Nasdaq: VRTX), Estee Lauder (NYSE: EL), NXP Semiconductors (Nasdaq: NXPI), Simon Property Group (NYSE: SPG), Allegiant Travel (Nasdaq: ALGT), Amkor (Nasdaq: AMKR), Tyson Foods (NYSE: TSN), Air Products (NYSE: APD), Chegg (NYSE: CHGG), IDEXX Labs (Nasdaq: IDXX), Rambus (Nasdaq: RMBS), Affiliated Managers (NYSE: AMG), BellRing Brands (NYSE: BRBR), Bowler (NYSE: BOWL), Cabot (NYSE: CBT), Crown Holdings (NYSE: CCK), Fabrinet (NYSE: FN), FMC (NYSE: FMC), Hillenbrand (NYSE: HI), J&J Snack Foods (Nasdaq: JJSF), Kforce (Nasdaq: KFRC), Kilroy Realty (NYSE: KRC), Simpson Manufacturing (NYSE: SSD), Skyline Champion (NYSE: SKY), Varonis Systems (Nasdaq: VRNS).

Notable IPOs Today: Churchill Capital Corp VII Class A Common Stock (Nasdaq: CVII).

Notable Equity Crowdfunding Campaigns Ending Today: Herbucha (Honeycomb), Avenida Entertainment Group Inc. (Wefunder), Zoombang (StartEngine), Aerial Resupply Coffee (Wefunder).

Notable Economic Events Today: S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing PMI (10:00 a.m. ET), ISM Non-Manufacturing Prices (10:00 a.m. ET), ISM Non-Manufacturing Employment (10:00 a.m. ET).

Avalanche's Upcoming Release 

The price of the cryptocurrency Avalanche dropped by about 3% on Sunday, weeks before a big release.

Details: Avalanche is planning to release 9.5 million tokens on February 22. Those tokens are worth about $320 million.

Powering the Story: The concern is that the sudden release of new tokens could result in price volatility. Basically, increased supply might cause the price of Avalanche to drop.

Price: While Avalanche is up in the past 12 months, the price is down 7% in the last 30 days.

Final Thoughts: This news speaks to the ongoing volatility in the crypto space.

Meanwhile, the price of the cryptocurrency Chainlink jumped 5% on Sunday, higher than most other cryptos.

Final Thoughts: Chainlink is up over 30% in 2024. It is impressive as most crypto prices are down so far this year.

Thank you for reading!

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