Boeing (BA)
Boeing shares fell into the red in after-hours trading following reports that U.S. prosecutors have launched a criminal investigation into the in-flight explosion of a Boeing 737 MAX operated by Alaska Airlines.
According to the Wall Street Journal, the Department of Justice's (DOJ) investigation will take a closer look at Boeing's recent production and manufacturing mishaps, which could have affected everything from flight operations to crew hiring to ticket prices. It is also having an impact on the wider aviation industry.
The investigation comes as Boeing's safety record has come under intense scrutiny following a series of incidents, including two fatal Boeing 737 MAX crashes in 2018 and 2019.
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The Justice Department's investigation will inform the agency's assessment of whether Boeing complied with the terms of a $2.5 billion (£1.95 billion) settlement to avoid prosecution in connection with the crashes.
Oracle (ORCL)
Oracle shares rose 13% in after-hours trading after the software company reported quarterly profits that beat Wall Street expectations.
The rise in Oracle stock added about $40 billion to the company's stock market value.
Excluding items, the company's third-quarter earnings were $1.41 per share, an increase of 16%. However, sales for the three months ended Feb. 29 were $13.28 billion, below analysts' average estimate of $13.3 billion.
Oracle said it expects earnings per share to be between $1.62 and $1.66 for the fiscal fourth quarter.
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Oracle CEO Safra Catz said the company is committed to achieving its previously stated goal of $65 billion in revenue by fiscal year 2026, adding, “We are building on our momentum. “If you think about it, some of these goals may be too conservative.”
Oracle told analysts to expect a joint announcement with semiconductor giant Nvidia (NVDA).
Persimmon (PSN.L)
Persimmon shares fell after the housebuilder revealed annual profits had more than halved and warned that 2024 will be another difficult year.
The company completed only 9,922 homes last year, but this will rise to 14,868 in 2022.
Underlying operating profit fell to £354.5m compared to £1bn the previous year, and turnover fell to £2.8bn compared to the 2022 record of £3.8bn.
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The group said the housing market in 2024 will “remain weak” and “challenging” as the housing market shows little sign of picking up ahead of the general election and interest rates remain at the highest levels since the 2008 financial crisis. He said it would be.
Pets at Home (PETS.L)
Shares in the pet shop chain fell after British regulators warned pet owners may be paying too much for veterinary medicines.
The Competition and Markets Authority (CMA) has announced that it will launch a formal market investigation after an initial review of the veterans market raised “several concerns”.
Sarah Cardell, director of the CMA, said: “We have heard from people working in the sector concerns about pressures, including severe talent shortages, and the impact this has on individuals.
“However, our investigation has identified multiple concerns in the market that we believe warrant further investigation.”
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It also raised concerns about weak competitiveness in some regions due to regional market concentration and incentives for large business groups to take actions that could reduce consumer choice.
Depending on the findings, UK veterinary organizations could be forced to cap prescription fees or sell parts of their businesses.
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