Stocks opening higher …Ryanair dampens expectations on Boeing Max deliveries… Apple commits $2.5B to CA housing crisis
NEW YORK (AP) – Stocks are opening higher on Wall Street, pushing major indexes toward more record highs. Technology companies and banks notched gains in the early going. Texas Instruments jumped 1.9% and Morgan Stanley added 1.7%. At 10:41 a.m. Eastern Time, the S&P 500 was up14 points to 3,081. The Dow was up 145 points, to 27,492. And the Nasdaq was up 45 points to 8,431. Bond prices fell. The yield on the 10-year Treasury rose to 1.78%.
LONDON (AP) – Ryanair says it has dampened expectations that it would receive the entirety of its planned delivery of Boeing 737 Max airplanes next year. As the Ireland-headquartered company reports profit of 1.15 billion euros ($1.28 billion) for the half-year to September, CEO Michael O’Leary says the airline now expects to receive its first Max planes in March 2020. Europe’s busiest airline has said it would cut flights and close some bases because of delays to deliveries of the plane, which has been grounded by two fatal crashes.
CUPERTINO, Calif. (AP) – Apple says it’s committing $2.5 billion to combat California’s housing crisis. The pledge includes a $1 billion fund to build new homes for households with low to moderate incomes; a $1 billion homebuyer mortgage assistance fund; and $300 million to make Apple-owned land in San Jose available for affordable housing. The commitment eclipses similar pledges from fellow San Francisco Bay Area tech giants Google and Facebook, which have each promised about $1 billion.
MILAN (AP) – Sportscar maker Ferrari says it’s starting a fashion collaboration with Giorgio Armani as part of its long-awaited strategy to spread its brand to other sectors and squeeze more value out of it. CEO Louis Camilleri told analysts today that Ferrari aims to earn 10% of earnings before interest and taxes in seven to 10 years from three new areas: apparel, entertainment and luxury services.
NAPERVILLE, Ill. (AP) – Buffalo Wild Wings says multiple employees have been fired at one of its suburban Chicago restaurants after a group of mostly African American customers said they were asked to move to another table because of their skin color. Customer Justin Vahl says he was celebrating a birthday last month at the Naperville, Illinois restaurant when a host asked about his ethnicity. Vahl says a manager later asked his group to move because a regular customer didn’t want to sit near black people.