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- ✈️ Boeing's Flight To Recovery
✈️ Boeing's Flight To Recovery
1) Boeing’s Airplane Deliveries 2) J.P. Morgan’s Growth Continues, 3) The Best & Worst CEOs, and more!
Carbon Finance
January 12, 2024
Happy Friday!
December's CPI rose 0.3%, surpassing the 0.2% estimate, indicating persistent inflation in the U.S. economy with an annual increase of 3.4%.
Core CPI, excluding food and energy, also exceeded expectations with a 0.3% monthly and 3.9% yearly rise, driven largely by soaring shelter costs.
Some key data bites from this week that you should know:
Global electric and plug-in hybrid vehicle sales grew 31% in 2023.
Netflix Games' $NFLX downloads jumped by 180% in 2023, reaching 81.2M.
93% of U.S. stock market wealth is owned by the top 10%.
Unity Software $U is cutting 25% of its workforce, or around 1,800 jobs, as part of a restructuring.
Tiger Woods has ended his partnership with Nike $NKE, concluding deals collectively worth over $400M across 27 years.
In today’s newsletter:
✈️ Boeing’s Commercial Airplane Deliveries
🏦 J.P. Morgan’s Growth Continues
👨💼 The Best & Worst CEOs
Let’s dive right in!
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✈️ Boeing’s Commercial Airplane Deliveries
This year, the spotlight has been on Boeing after a door plug blowout occurred mid-flight on an Alaska Airlines aircraft.
This incident adds to a series of safety and quality issues, with fatal design flaws and production problems eroding its once-sterling reputation for aircraft safety and reliability.
Despite this, Boeing published its latest delivery figures this week.
Boeing received 1,314 orders in 2023, and delivered 528 commercial airplanes, a 10% increase from the previous year.
The company’s delivery figures are starting to pick up steam following years of decline due to fatal crashes and the COVID-19 pandemic.
Meanwhile, Airbus continues to maintain its lead over Boeing for the fifth consecutive year in a row, with a record 2,319 gross orders, and 735 deliveries in 2023.
The Numbers:
Earnings: 🔴 $3.04 Misses $3.32 Est.
Revenue: 🟢 $39.94B Beats $39.78B Est.
Analyst estimates from LSEG.
The Quarter:
This morning, JPMorgan Chase released its fourth-quarter 2023 earnings results.
The company achieved a record $49.6B in annual net income in 2023, outperforming rivals despite a challenging year for the banking industry.
However, even JPMorgan faced difficulties in the fourth quarter, with profits dipping 15% due to a special FDIC assessment and overall banking sector turbulence.
In 2023, JPMorgan's net interest income soared to $24.05B due to higher lending rates, with margins rising to 2.81% in Q4.
Despite economic uncertainties, the bank's acquisition of First Republic boosted revenues, especially in home lending, while consumers increasingly relied on credit cards.
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👨💼 The Best & Worst CEOs
Image Credits: Individual Company Newsrooms, LinkedIn, Wikipedia
In Blind's 2023 CEO approval rating index, NVIDIA's Jensen Huang received the highest rating of 96% from verified employees.
The index, based on 13,171 U.S. professionals' feedback, showed high approval for leaders like Doug McMillon and Nikesh Arora.
The average CEO had a rating of only 32%.
Company performance greatly influenced approval ratings.
Job security also played a role, as top-rated CEOs generally avoided layoffs, contrasting with lower-rated CEOs who implemented significant job cuts in 2023.
✅ Bitcoin ETFs Approved. The U.S. securities regulator approved 11 Bitcoin ETFs, marking a major step for the cryptocurrency - R
📡 Starlink Success. SpaceX successfully tested sending text messages via Starlink satellites using T-Mobile’s $TMUS network - CNBC
✂️ AI Cut. Duolingo $DUOL cuts 10% of its contractors, shifting to generative AI for content creation - BB
💾 Intel’s AI Moves. Intel $INTC announced new automotive AI chips and the acquisition of the French startup Silicon Mobility - R
⛽️ Gas Merger. Chesapeake Energy $CHK and Southwestern Energy $SWN merge in a $7.4B all-stock deal - WSJ
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