Industrials Down After Weak Factory Data — Industrials Roundup
Shares of industrial and transportation companies fell after weak regional factory data.
Manufacturing activity in the central U.S. fell much more sharply than expected this month, survey data from the Federal Reserve Bank of Richmond showed.
FedEx surged in late trading after the freight giant posted earnings ahead of Wall Street targets. Spirit AeroSystems Holdings shares fell after the Wall Street Journal reported that Boeing has switched the proposed funding of the partsmaker's acquisition to mostly stock instead of cash.
A selloff for Boeing's European rival, Airbus, continued following its reduction of its earnings expectations, and disclosure of struggles with its space unit.
Italian luxury sports-car maker Ferrari is "future-proofing" its earnings potential with a new factory for its first all-electric vehicle, said analysts at brokerage RBC Capital.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
June 25, 2024 17:46 ET (21:46 GMT)
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