Yahoo Finance Boeing misses in Q1, Ford makes an investment, Kohl’s and Amazon team up
Here are the companies Yahoo Finance is watching today.
A miss at Boeing (BA). The aerospace giant fell short on earnings and revenue last quarter, hit hard by the groundings of its 737 Max jets. The company now says it expects a billion-dollar hit from the groundings. It also delayed issuing new guidance.
Ford (F) is making a big investment in electric trucks. It's putting $500 million into Rivian. They'll work together on developing next-generation electric vehicles to be sold as part of Ford's portfolio.
Kohl's (KSS) is in the spotlight now that it's expanding a partnership with Amazon. The stores nationwide will now accept your Amazon returns. It had started as a pilot program in 2017 and the CEO says it’s thrilled to bring the program to every location. About 80% of Americans live within 10 miles of a Kohl's store.
CBS (CBS) is calling off its search for a new chief executive, at least until the end of the year. Joe Ianniello is set to continue his role as president and acting CEO for another six months. Ianniello has been leading CBS since former Chief Executive Leslie Moonves was forced out after numerous allegations of sexual assault and misconduct last September.
It looks like some of General Electric's (GE) trade secrets were stolen. The U.S. is charging an American engineer and a Chinese businessman with stealing G.E.'s turbine designs for the Chinese government and their personal business interests. The two men were charged with economic espionage and conspiracy to steal the company's technology. One of the men pleaded not guilty and was released pending trial.
