Boeing Shares Slide After Deadly South Korea Crash

31 minutes ago

Boeing (BA) shares fell sharply in early trading Monday after a 737-800 operated by South Korea’s Jeju Air crashed, killing 179 people, in the latest accident involving one of the U.S. company’s planes. 

According to The Wall Street Journal, the aircraft rammed into a concrete barrier and burst into flames as it tried to land Sunday in South Korea's Muan County. All but two of the 181 people on the flight—which had departed from Bangkok, Thailand—were killed.

Boeing shares were down more than 4% in recent trading. Shares of Jeju Air, a budget carrier set up in 2005, closed nearly 9% lower at an all-time low in Seoul trading Monday.

Boeing has been battling a series of problems with the quality of its aircraft, most notably this year with the mid-air blowout of a door plug on an Alaska Airlines (ALK) flight in January. That led the Federal Aviation Administration (FAA) to ground expansion plans for the U.S. aviation giant’s best-selling 737 MAX.  

The safety problems, as well as a strike at its West Coast plants that lasted nearly two months and ended in November, led to cost-cutting moves including thousands of layoffs. Boeing subsequently raised billions of dollars to shore up its finances and stem a cash drain.

Boeing's shares have lost a third of their value this year.

–Nisha Gopalan

Tesla Levels to Watch as Investors Await Q4 Deliveries Report

2 hr 1 min ago

Tesla (TSLA) shares are down in premarket trading after logging two consecutive days of losses, as investors reassess the stock’s extended post-election rally and look ahead to the EV maker’s fourth-quarter deliveries report.

Analysts predict the deliveries number, which is expected to be released on Thursday, to come in around 510,000 units, which would represent 10% growth from the prior quarter and a 5% improvement from a year earlier.

Since the presidential election, Tesla shares have surged more than 70% on expectations that CEO Elon Musk’s ties with President-elect Donald Trump and growing influence in Washington will benefit the automaker’s autonomous driving ambitions.

Tesla shares were down 3% at around $419 in recent premarket trading, after falling nearly 7% over the previous two sessions.

The stock has consolidated within a pennant, a chart pattern that signals a continuation of the current uptrend.

A measured move, which calculates the distance in points of the impulsive move higher that preceded the pennant and adds that amount to the pattern’s top trendline, forecasts a price target of $615.

During pullbacks, investors should watch key support levels on Tesla's chart around $360 and $300.

Read the full technical analysis piece here.

–Timothy Smith

Major Index Stock Futures Lose Ground

2 hr 49 min ago

Futures tied to the Dow Jones Industrial Average were down 0.6% in recent trading.

S&P 500 futures were down 0.8%.

Nasdaq 100 futures were also off 0.8%.

Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.