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  • Reuters

    UPDATE 1-Spirit Aero says it has a new plan to address Boeing 737 MAX parts demand

    Spirit AeroSystems said it has developed a plan that gives it “a high degree of confidence” to meet U.S. planemaker Boeing's rate and quality demands for parts for the 737 MAX jet, the company told Reuters on Wednesday. Boeing is under pressure to restore slumping production of its strong-selling narrowbody jet to 38 per month in the second half of the year as it grapples with a sprawling safety crisis following a January mid-air panel blowout on a new 737 MAX plane. Boeing is pressing Spirit Aero, its key supplier, to improve the quality of the fuselages it produces for the MAX at a higher rate for the second half of 2024.

  • Reuters

    CORRECTED-TREASURIES-US yields fall after Fed continues to flag easing, slows balance sheet runoff

    U.S. Treasury yields pulled back on Wednesday after the Federal Reserve kept interest rates steady, as expected, but signaled that it still plans to cut interest rates at some point. The Fed did acknowledge its disappointment over the "lack of further progress" in pushing inflation down to its 2% target. The Federal Open Market Committee "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably towards 2%," the Fed said in a unanimously approved statement that still suggested that the next move on rates will be lower.

  • Benzinga

    Why Is Software Megacap ADP's Stock Trading Higher Today?

    Automatic Data Processing, Inc (NASDAQ:ADP) reported fiscal third-quarter 2024 revenues of $5.25 billion, beating the analyst consensus of $5.23 billion. Revenues increased 7% Y/Y. The company reported quarterly adjusted EPS of $2.88, beating the analyst consensus of $2.79. The stock price gained after the print. Adjusted EBIT increased 12% to $1.5 billion, and adjusted EBIT margin increased 140 bps to 29.3%. Net earnings increased 14% Y/Y to $1.2 billion, and adjusted net earnings increased 13%