Hexcel Corporation (HXL) shares are trading lower on Wednesday after the Boeing supplier announced an unexpected leadership change: Tom Gentile, the former CEO of Spirit AeroSystems (SPR), has been appointed to the roles of CEO and president. Bank of America analyst Ronald Epstein downgraded the stock to Underperform from Neutral and reduced their price target to $65 from $75. Julie Hyman and Josh Lipton explain why the announcement is surprising. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Gabriel Roy
Hexcel Corporation (HXL) shares are trading lower on Wednesday after the Boeing supplier announced an unexpected leadership change: Tom Gentile, the former CEO of Spirit AeroSystems (SPR), has been appointed to the roles of CEO and president. Bank of America analyst Ronald Epstein downgraded the stock to Underperform from Neutral and reduced their price target to $65 from $75.
Julie Hyman and Josh Lipton explain why the announcement is surprising.
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Gabriel Roy
Barrons.com
The Dow Jones Industrial Average on Wednesday was on track for its worst consumer price index release day since 2022. The Dow was down 558 points, or 1.4%. If it closes down more than 1.35%, it will mark the worst daily percentage decline after a CPI since Sept. 13, 2022, when it fell 3.94%, according to Dow Jones Market Data.
Barrons.com
Gold dipped after Wednesday’s stronger than expected inflation report, but recovered throughout the day and may be ready to extend its rally. Investors appear to be buying gold as a stock market hedge due to concerns that economic growth will decelerate due to prolonged high interest rates. Global tensions are another reason investors may be hedging.
Barrons.com
Hexcel stock dived Wednesday after the structural materials maker said CEO Nick Stanage will be replaced by Spirit AeroSystems ’ former chief executive. Hexcel said Stanage, who has helmed the company since 2013, will become executive board chairman to help with the transition before he retires at the end of the year. Gentile had been CEO of Spirit AeroSystems an aerospace parts supplier, since 2016 until he stepped down as CEO and resigned from the board in October 2023.
Barrons.com
Hoka, the comfy athletic shoe, has helped its parent company Deckers Outdoor‘s shares soar. On Wednesday, Truist’s Joseph Civello downgraded Deckers’ stock to Hold after keeping a Buy rating on it since November. Credit and debit card transaction data from Truist Banks shows Hoka sales have tempered in the U.S. in mid-February and remained soft through March as consumers pulled back on discretionary spending, according to Civello.
Bloomberg
(Bloomberg) -- Investors are signaling the Federal Reserve will cut interest rates just twice this year, starting in September, after a fresh round of hot inflation sent Treasury yields soaring to 2024 highs.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsUS Inflation Refuses to Bend, Fanning Fears It Will StickChinese Cement Maker Halted After 99% Crash in 15 MinutesUS Sees Missile Strike on Israel By Iran, Proxies as ImminentS&P 500 Hit by Fed-Pivot Reth
Bloomberg
(Bloomberg) -- To see how hard it’s been for even Wall Street’s best and brightest to predict where the Federal Reserve is headed, look no further than Goldman Sachs Group Inc. Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsUS Inflation Refuses to Bend, Fanning Fears It Will StickChinese Cement Maker Halted After 99% Crash in 15 MinutesUS Sees Missile Strike on Israel By Iran, Proxies as ImminentS&P 500 Hit by Fed-Pivot Rethink and War Jitters: Markets Wr
Bloomberg
(Bloomberg) -- Wall Street traders sent stocks and bonds sliding after another hot inflation report signaled the Federal Reserve will be in no rush to cut rates this year. Oil climbed as geopolitical jitters resurfaced.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsUS Inflation Refuses to Bend, Fanning Fears It Will StickChinese Cement Maker Halted After 99% Crash in 15 MinutesUS Sees Missile Strike on Israel By Iran, Proxies as ImminentS&P 500 Hit by Fed
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