The Boeing Company's (NYSE:BA) stock fluctuated up and down Wednesday after President Trump issued an executive order grounding the company's 737 MAX planes in the wake of the second deadly crash for the aircraft in six months. The US joins Canada, which also grounded the 737 Max today, and dozens of other countries who did so earlier this week. After a big hit following Trump's executive order, investors rallied the stock back into positive territory.
Shares closed up 0.6% to $377.50.
BP PLC (NYSE:BP) is teaming up with the Environmental Defense Fund to fight methane leaks, the company announced Wednesday. The oil and gas giant recently spoke with President Trump over the phone, urging him to strengthen regulations limiting leaks, rather than loosen them, according to Reuters. Bernard Looney, head of oil and gas production said on Tuesday that BP planned to reduce methane emissions to 0.2% of its oil and gas production by 2025 and achieved it in 2018.
Investors sent the stock up 1.4% to finsh at $43.85.
Roku Inc (NASDAQ:ROKU) was downgraded Wednesday to Sell from Hold by analysts at Loop Capital. Their $45 price target for the Los Gatos, California-based company represents a 36% decrease from Tuesday’s closing price. Macquarie also downgraded the streaming company to Neutral from Outperform.
The TV streaming company’s share price ended down more than 14% to $60.74.
Talk of a possible bid for Take-Two Interactive Software Inc (NASDAQ:TTWO) by Sony Corp (NYSE:SNE) sent shares of the video-game maker higher at midday. With blockbuster titles including Grand Theft Auto and Dead Red Redemption, Take-Two been a frequent subject of takeover chatter in the past few years.
The stock added 6.9% to $96.03, while Sony shares edged up 0.8% to $46.67.
Shares of Express Inc (NYSE:EXPR) dropped after posting a fourth-quarter loss of $0.02 per share Wednesday morning, compared with earnings of $0.35 per share a year earlier. The apparel retailer is also still searching a for a new CEO.
The stock fell more than 10% to $4.52.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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