Boeing’s Battery Proposal and GM’s Big Investment: Morning Buzzers
After two days of sharp losses, U.S. stock futures suggested that the equity markets may end the week on a good note.
Futures at 8:50 a.m.: DJIA: +0.51%, S&P 500: +0.54%, NASDAQ: +0.56%.
Hewlett-Packard (NYSE:HPQ) posted fiscal first-quarter results after the markets closed on Thursday that had the stock trading up as much as 4.4 percent in Friday’s pre-market. Revenue shrank 6 percent to $28.4 billion, while earnings shrank 11 percent to $0.82 per share for the quarter, which were narrower losses than analysts were expecting.
Boeing (NYSE:BA) will be meeting with officials from the Federal Aviation Administration on Friday to discuss a possible redesign of the lithium ion battery on board the 787 Dreamliner that has been the cause of so much trouble for the aerospace manufacturer. This meeting comes more than a month after fleets of the aircraft were grounded around the world.