The outgoing CEO of Boeing, Dave Calhoun, will be in front of a Senate panel today to testify about its recent safety scandals.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribejumped nearly 1%, continuing an upward trend of seven weeks of gains in the past eight for both the S&P 500 and Nasdaq. Thedropped as much as 17% after the company's shareholder meeting concluded without a detailed strategy to revive the video game retailer.
Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are.into a 737 Max flown by Southwest Airlines, which suffered substantial damage from a Dutch roll at nearly 38,000 feet. While the plane was carrying 175 passengers and six crew traveling from Phoenix to Oakland on May 25, the tail wagged side to side and the wings rocked violently. A Dutch roll, while rare, can potentially be dangerous.after numerous scrubbed attempts.
"Years of putting profits ahead of safety, stock price ahead of quality, and production speed ahead of responsibility has brought Boeing to this, and its hollow promises can no longer stand," said Richard Blumenthal, D-Conn., chairman of the Senate Permanent Subcommittee on Investigations. Boeing already burned through $4 billion in cash in the first quarter as it attempted to rectify production issues. CFO Brian West warned last month that figure could be similar or "" in the second quarter. The company's stock, which has fallen by almost a third since last year, edged higher ahead of the Senate hearing.
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