Reuters Before the Bell: Boeing sinks to $3 billion loss on MAX groundings

Click to View in Browser Wednesday, July 24, 2019 Boeing sinks to $3 billion loss on MAX groundings Boeing Co reported a nearly $3 billion second-quarter loss on Wednesday as the world's largest planemaker struggles with the prolonged grounding of its best-selling 737 MAX jet, sending its shares lower in early trading. Caterpillar reports lower second quarter earnings Caterpillar Inc's on Wednesday reported lower quarterly earnings, hurt by cooling demand for construction machines in Asia-Pacific as well as weak sales at its energy and transportation division. UPS profit beats on higher e-commerce deliveries United Parcel Service Inc , which is the world's largest package delivery company, beat second-quarter profit estimates on Wednesday, driven by increased demand in domestic shipment from e-commerce companies. Trade talks buoy stocks, gloomy data sink euro Global shares held on to recent gains on Wednesday as the prospect of new China-U.S. trade talks drew a guarded welcome from investors, while dour data on euro zone economic activity hit the euro before a European Central Bank policy meeting. KKR devours Tim Tam biscuits maker in $2.2 billion deal with Campbell KKR & Co said it is buying Campbell Soup Co's Australian snacks unit Arnott's that will give it ownership of top-selling biscuit brands such as Tim Tam, in a deal local media reported was worth $2.2 billion. GSK predicts smaller fall in 2019 profit after standout quarter for Shingrix GlaxoSmithKline Plc on Wednesday forecast a smaller than previously estimated fall in full-year profit after the British drugmaker beat profit consensus for the second quarter due to demand for its fast-growing Shingles vaccine. Nasdaq beats quarterly profit on strength in non-trading units U.S. exchange operator Nasdaq Inc beat analysts' estimates for second-quarter profit on Wednesday, as a boost in its non-trading businesses, including information services, overshadowed a softer trading environment. Futures hit as DOJ aims antitrust probe at tech U.S. stock index futures dropped on Wednesday, pressured by a fall in big tech companies after the announcement of a broad antitrust investigation by the U.S. Justice Department into the sector. AT&T wireless business grows but premium TV subscribers decline AT&T Inc on Wednesday beat Wall Street estimates for net wireless subscribers who pay a monthly bill as it ground out some growth in a saturated market and continued to bundle media content from Time Warner into new wireless plans. Nissan warns of profit plunge, set to unveil 10,000 job cuts Nissan Motor Co Ltd warned on Wednesday that first-quarter profit tumbled around 90% percent, a day before it is expected to announce more than 10,000 job cuts as the crisis deepens at Japan's second-largest automaker. Related Video Coke results boost Wall Street S&P 500 could slide 9% - Johnson Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook