Top Midday Stories: Markets Rally on Trade Deal Hopes; Boeing Q1 Commercial Deliveries Jump 57% Year Over Year

MT Newswires Live
08 Apr

All three major US stock indexes were up over 2% in late-morning trading Tuesday on rising hopes of trade deals between the US and other nations.

In company news, Boeing Company (BA) said Tuesday it delivered 130 commercial airplanes in Q1, 57% up from 83 a year ago. The company said its defense, space and security programs delivered 26 aircraft in Q1, up from 14 during the same period last year. Boeing shares were up 4.3% around midday.

The US Centers for Medicare and Medicaid Services said late Monday that it will increase payment rates for Medicare insurers to 5.06% next year, a 2.83 percentage-point increase over the previously proposed boost in January. Shares of UnitedHealth Group (UNH), Humana (HUM) and CVS Health (CVS) were up 6.7%, 10.9% and 8.2%, respectively.

Levi Strauss (LEVI) reported Q1 adjusted earnings late Monday of $0.38 per diluted share, up from $0.25 a year earlier and above the $0.28 consensus estimate of analysts polled by FactSet. First-quarter net revenue was $1.53 billion, up from $1.48 billion in the year-ago period but below the FactSet consensus of $1.54 billion. Chief Financial Officer Harmit Singh said during the company's earnings call that tariffs are expected to have a "minimal impact" on its fiscal Q2 margin. Levi shares were down 3.3%.

CVS Health said Tuesday it has named Brian Newman as CFO, effective April 21, and Amy Compton-Phillips as chief medical officer, effective May 19. Newman, who previously served as CFO for United Parcel Service (UPS), will succeed Tom Cowhey, who will transition to serve as strategic advisor to Chief Executive David Joyner, effective May 12.

Price: 144.80, Change: +5.94, Percent Change: +4.28

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