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MarketWatch MarketPulseJan 16, 2020
Southwest Airlines to keep Boeing 737 Max off schedule through June 6
Southwest Airlines Co. said Thursday it is planning to remove the Boeing 737 Max aircraft from its schedule through June 6, based on the uncertainty surrounding the timing of a return to service. The airline had previously said it would keep the aircraft off its schedule through April 13. "The revision will proactively remove roughly 330 weekday flights from our schedule out of our total peak-day schedule of more than 4,000 daily flights," the airline said in a statement on its website. The U.S. Federal Aviation Administration and other regulators around the world grounded the 737 Max last year after two fatal crashes, that are believed to be related to problems with its MCAS automated system. Shares were up slightly premarket and have gained about 11% in the last 12 months, while the NYSE Arca Airline ETF has gained 11% and the S&P 500 has gained 26%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseJan 16, 2020
Bombardier's stock suffering biggest-ever plunge after warning of revenue decline
Shares of Bombardier Inc. plunged 30% in afternoon trading, toward the lowest close in nearly 4 years, after the Montreal-based plains and trains maker warned of a surprise decline in revenue, citing challenges faced by its transportation business. That puts the stock on track for the biggest-ever one-day percentage decline, surpassing the previous record of 25.6% on Jan. 15, 2015. The company said it expects fourth-quarter revenue of approximately $4.2 billion, down from $4.3 billion a year ago, and below the FactSet consensus of $4.95 billion. Transportation revenue is expected to be about $1.8 billion, below the FactSet consensus of $2.21 billion. Bombardier said it's transportation business was taking a $350 million charge related to London Overground's LoTrain project, negotiations with the Swiss Federal Railways and increased costs for projects in Germany. For 2019, the company said it now expects free cash flow to be negative $1.2 billion, compared with the cash-burn guidance provided in October of $500 million. The stock, on track for the lowest close since March 17, 2016, has now shed 23.3% over the past three months, while the Dow Jones Transportation Average has gained 8.3% and the Dow Jones Industrial Average has advanced 8.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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