Boeing stock drops after halting 737 MAX test flights

Boeing Falls Following Cautious 737 MAX Flight Suspensions

Boeing has grounded its fleet of 737 MAX aircraft days ahead of the first delivery because of a problem with some engines. GE shares were off less than 1% in Wednesday's trade, reacting quickly to the news, but not with much conviction. The company's stock opened at $185.48 per share and saw a high on Wednesday of $185.65 per share, New York Stock Exchange data shows.

Engine maker CFM informed Boeing of a potential quality issue with the five stage Low Pressure Turbines (LPT), which are manufactured by CFM joint venture partner French Safran Aircraft Engines. The companies will also work with a backup supplier to keep the production of engines on schedule. It will take about a week for each engine and Safran is putting in place resources to handle several at once, Andries said.

"If the engine issue is indeed a quality issue and not a design issue, then it is likely to have a minimal impact to BA", Richard Safran, an industry analyst at Buckingham Research said in a research note.

The 737 Max has accumulated 3,714 orders before its commercial debut. The first 737 MAX was due to be delivered next week to smaller Indonesian-owned Malaysian carrier Malindo Air.

West Brom will not 'roll over' for Chelsea, says Brunt
If Chelsea do not secure the title on Friday, they have two home games - against Watford and Sunderland - to complete the job. The feeling I had at the beginning of the year was that they wouldn't win the league.

A Leap-1B engine is seen here at Boeing's factory in Renton, Wash.

The order also includes the sale of another eight 737 MAX planes to Air Lease Corp, which will lease them in turn to Primera - bringing the total order to 20 planes.

Rick Kennedy, a spokesman for GE Aviation, added approximately 30 aircraft will be inspected in the U.S. and in France and that production will carry on using turbine discs from other CFM suppliers for the time being.

"Out of an abundance of caution, we made a decision to temporarily suspend MAX flights", it told the BBC. That aircraft completed a successful maiden flight last month.

Hamilton puzzled by Sochi weekend
Red Bull's Daniel Ricciardo was the most notable retirement, parking his vehicle on lap 6 after the right-rear brakes caught fire. Bottas was the first of the leading pack to pit on lap 27 and Vettel tried to pull clear by staying out to lap 34.

"We still plan to start deliveries this month".

On-time delivery of Southwest's Max planes is critical because the Dallas-based airline is counting on them to fill a gap when it retires its oldest aircraft on October 1.

The former, an affiliate of Indonesian carrier PT Lion Mentari Airlines but headquartered in Malaysia, had expected a delivery early next week, with commercial service due to begin on 19 May.

John Velazquez Says Always Dreaming Is Todd Pletcher's Best Kentucky Derby Horse
Long shots Lookin at Lee and Battle of Midway were next across the line in slow conditions caused by rains Friday and Saturday. Classic Empire finished fourth, followed by Practical Joke , Tapwrit, Gunnevera, McCraken, Gormley and Irish War Cry.

Related news:

Hot News

isis-killer-beheading-video-story-top Microsoft built a watch that calmed woman's Parkinson's tremors
May 12, 2017 - 02:55
Encouraged by the success, Zhang has partnered with a neuroscience team in London to set up trails for the device. So, the wearable is also connected to a Windows 10 tablet that has an app for controlling vibration speed.

isis-killer-beheading-video-story-top Colbert has good week in ratings despite controversy
May 12, 2017 - 02:51
Does Stewart miss being on TV? All five of the former Daily Show correspondents have found success post-Daily Show . Why? Well first of all, the entire hullabaloo turned out to be largely drummed up by right-wing provocateurs .

Jakarta's Christian governor jailed for insulting Islam
May 10, 2017 - 03:52
About 85 percent of its population are Muslim , but the country officially respects six religions. But Ahok supporter Adrian Sianturi said the trial was a victory for intolerance and corruption.

Giancarlo Stanton slugs two homers, Marlins rout Mets
May 10, 2017 - 03:48
Ramos finished off the Mets in the eighth and ninth innings to end the Marlins' losing streak and secure the road shutout victory. Matt Harvey's been suspended three games without pay for a violation of team rules, the New York Mets announced today.

Conservatives gunning for Salmond's seat after success in Aberdeenshire
May 10, 2017 - 03:48
The SNP remains the largest party in local government with 431 councillors voted in, up slightly from its total of 425 in 2012. Similarly, Labour would be attacked by the SNP if local politicians struck up partnerships with the Conservatives.

isis-killer-beheading-video-story-top Carter Wilkerson has more than 3 million retweets
May 10, 2017 - 03:47
He is also selling T-shirts on his website , with a promise that all proceeds go to the Dave Thomas Foundation for Adoption . Well, now Carter has topped Ellen's tweet with over 3.45 million retweets! Carter appeared on Ms DeGeneres' show last month.

Banks hit with new levy, potentially costing billions
May 10, 2017 - 03:46
So the Treasurer has delivered a budget that lifts the Medicare levy for all but the lowest income earners in two years' time. Foreign workers were also hit, with a $1.2 billion levy on their employers to fund training for local workers.

isis-killer-beheading-video-story-top S&P, Nasdaq hit record highs as volatility drops
May 10, 2017 - 03:43
The Dow Jones industrial average slipped 7 points to 21,004, and the Nasdaq composite rose 20 points, or 0.3 percent, to 6,123. NEW YORK (AP) - U.S. stock indexes are edging mostly higher in midday trading, a day after setting their latest record highs.

isis-killer-beheading-video-story-top Hertz Global Holdings, Inc (HTZ) Receives $32.44 Average PT from Analysts
May 10, 2017 - 03:37
The difference between the expected and actual EPS was $-0.14/share, which represents an Earnings surprise of -24.6%. ILLEGAL ACTIVITY WARNING: This report was first reported by The Cerbat Gem and is the property of of The Cerbat Gem.

isis-killer-beheading-video-story-top PGA Tour: Smith and Blixt claim Zurich Classic
May 09, 2017 - 00:15
Fifteen-year-old Victoria Tip-Aucha will create history tomorrow when she becomes the first woman to play on the MENA Tour. It was further stroke back to former world number one Jordan Spieth and fellow Texan Ryan Palmer, who carded a 64 for 266.

isis-killer-beheading-video-story-top NASCAR notebook: Aric Almirola wins Xfinity Series race at Talladega
May 09, 2017 - 00:09
Kenseth is regarded as one of the better plate-racers around, but he hasn't performed well in these types of races recently. The 2.66-mile oval in Alabama is the longest on the circuit, and routinely provides entertaining and action-packed racing.

isis-killer-beheading-video-story-top Roy Oliver: Full Story & Must-See Details On Police Officer
May 09, 2017 - 00:05
The six-year veteran was one of two officers who responded to reports of drunken teenagers at a house party Saturday, April 29. The Edwards family told what happened next in a written statement released by Merritt Tuesday, before Oliver was sacked .

isis-killer-beheading-video-story-top Akhilesh should step down as Samajwadi Party chief: Aparna Yadav
May 09, 2017 - 00:03
In his reaction, Akhilesh Yadav said he welcomes more "secular politics", and added, "I don't know what shape this will take". Mulayam Singh Yadav also said that Shivpal Yadav was right in calling prof Ram Gopal Yadav a "Shakuni".

China launches first domestically built aircraft carrier
May 07, 2017 - 13:15
As NPR's Anthony Kuhn reports from Beijing, the new carrier's launch is being greeted as a milestone for China and its military. After sea trials and the arrival of its full air complement, the yet-to-be-named carrier is expected to be operational by 2020.

isis-killer-beheading-video-story-top NBA Recaps: Spurs even series; Parker injured
May 07, 2017 - 13:11
Like the San Antonio Spurs and Tim Duncan , I keep hoping this will be the year they finally fall off. He needed to be carried off the floor by teammates, casting a pall over San Antonio's victory.