Business & Markets

ARLINGTON, Va. — Boeing shares ended Tuesday down 10.7%, the weakest stock in the Dow, after management laid out a slower recovery than investors had expected. Chief Executive Kelly Ortberg said 737 MAX output will not reach 52 a month until the second half of 2027, after the company first stabilizes production at 47. He said Boeing expects to reach $10 billion in annual free cash flow in 2029. Third-quarter revenue rose 4% to $24.2 billion. The net loss was $116 million, against a $5.3 billion loss a year earlier, which had been driven largely by 777X certification delays. Euronews reported that the per-share loss was larger than analysts had forecast. Ortberg pointed to FAA certification of the 737 MAX 7 and MAX 10 and a major Pentagon Navy fighter award as signs of progress.

DETROIT — General Motors said Tuesday it will move its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market. Trading on Nasdaq begins Nov. 17 under the same GM ticker, and NYSE trading ends at the close on Nov. 16. An SEC filing shows the board authorized the switch on Oct. 26. Shareholders need take no action. CFO Paul Jacobson said the company's technology-driven strategy makes Nasdaq a natural home. The listing makes GM eligible for the Nasdaq-100 index, though inclusion is not guaranteed. GM Authority reported that the shares rose about 5.5% to $80.54 on the day. UPI noted that Walmart and Palantir have made similar moves and that Hilton announced a switch last week. GM first listed on the NYSE in 1911.

BENTON HARBOR, Mich. — Whirlpool reported a third-quarter net loss of $249 million, or $3.80 a share, compared with a $73 million profit a year earlier. Net sales fell 8.8% to $3.68 billion. The ongoing loss was $0.21 a share, well below analyst forecasts. The company lowered its 2026 guidance for the third time this year. It now projects net sales of about $14.5 billion, down from roughly $15 billion, and an ongoing loss of about $1.30 a share. GAAP losses are projected at about $4.95 a share. Free cash flow is forecast at about $300 million. North American appliance revenue fell 8.3%, and segment operating profit dropped 44.7%, according to a Wells Fargo note. CEO Marc Bitzer said recovery is slower than expected but cost cuts set up improvement in 2027. The company announced fourth-quarter price increases in North America and Latin America.

Google is moving Local Services Ads into Google Ads as a Performance Max campaign type built around pay-per-lead goals. Google's help page says ads will still run only on Search and Maps, in the same positions, with no keywords. Agencies should note what changes. Manual bidding and industry-level target CPA are being retired. Weekly budgets become daily averages. After migration the old dashboard redirects to Google Ads, and historical performance reports do not carry over, although lead history does. Phase one began in August for select U.S. home and storefront advertisers, including plumbing, HVAC, electrical and roofing. Agency summaries of Google's notice describe a later phase for service-area businesses without storefronts and accounts with custom bidding. One agency guide, citing PPC Land, says a billing change took effect Oct. 1 that lets some unanswered business-hours calls count as billable leads. That detail is not confirmed in Google's help page.

A new analysis of 9,435 Google AI Mode answers to home-services questions found that 31.2% linked straight to a business's online booking page. Plumbing (39.4%) and HVAC (38.9%) were high, while roofing was 1.8%. Of the businesses named with a rating, 83% showed 4.8 stars or higher, and the median had 226 reviews. The first business named tended to have more reviews than the third. The author stresses these are patterns in its own sample, not a formula Google has published. Separately, a local SEO agency notes that Google's AI can phone U.S. businesses to ask about pricing and availability for a customer, and that owners can opt out in Business Profile settings. Google says AI Mode is still a separate tab and the traditional local pack remains.

NEW YORK — U.S. stocks rose for a second consecutive session Tuesday, led by semiconductor shares as oil prices slid. The S&P 500 gained 0.6% to 7,722.60. The Nasdaq Composite climbed 1.18% to 26,477.81, and the Dow Jones Industrial Average added just 15.99 points to 52,377.57, according to CNBC's closing figures. The narrow, tech-heavy advance follows Monday's rally after Anthropic's IPO filing eased worries about AI spending. Both the S&P 500 and the Nasdaq had posted back-to-back weekly losses. This is the peak week for third-quarter earnings, with 163 S&P 500 companies scheduled to report, including Alphabet, Amazon and Microsoft. Alphabet and Microsoft are due after Wednesday's close, hours after the Fed announcement. The 10-year Treasury yield held just under 5%.

NEW YORK — The Conference Board's Consumer Confidence Index rose 7.5 points to 91.7 in October, the highest since June and the first increase in four months. September was revised up to 84.2. Economists polled by Bloomberg had expected a reading near 81, and the figure topped every forecast in that survey. The Present Situation Index gained 8.6 points to 120.4, and the Expectations Index recovered 6.9 points to 72.6. That is still below the 80 level the board has said can signal a recession ahead. The board's economist tied the rebound to lower gasoline prices. Consumers' 12-month inflation expectation eased but stayed elevated at 5.8%, and they said they plan to cut spending on services and durable goods over the next six months. The next reading is due November 24.

NEW YORK — Third-quarter results from the largest U.S. banks showed no broad deterioration in credit quality, though a few measures moved the wrong way, according to Morningstar's review. Thirty-day card delinquencies rose from the prior quarter at JPMorgan (1.97% from 1.91%), Wells Fargo (2.69% from 2.58%) and Bank of America (2.32% from 2.23%). Wells Fargo's commercial real estate write-offs rose to $107 million from $16 million, and Bank of America's to $105 million from $2 million, as both cleared problem loans, Bisnow reported. Wells Fargo's CFO called the losses specific to individual borrowers. Morningstar said a September Fed hike, higher long-end rates and energy prices slowed dealmaking and fixed-income trading, while consumer spending and loan demand held up. FDIC data show 3.08% of CRE loans at the largest banks were past due or nonaccrual in the second quarter, versus a pre-pandemic average of 0.59%.

WASHINGTON — The Pentagon is reportedly drafting a requirement that each major continental U.S. installation sustain essential operations for at least 90 days without outside help. The standard would cover power, water, fuel and communications. Fox News Digital reported it Oct. 25, citing internal documents. The underlying papers have not been published, and The War Zone said it was unclear whether the Pentagon spokesman explicitly confirmed the 90-day figure. The requirement falls under FORTRESS, which Defense Secretary Pete Hegseth announced Sept. 30. A senior official said Oct. 20 that roughly 500 bases are being assessed and that full implementation could take decades. Air & Space Forces Magazine put the cost at tens of billions of dollars or more. The Army has already announced up to $2.2 billion in potential awards for microreactors at five bases. No budget or timeline has been published.

DHAKA — A fault on the Meghnaghat-Haripur transmission line at 12:43 p.m. Tuesday triggered a national grid failure in Bangladesh. National generation fell from 14,719 MW at noon to 9,349 MW at 1 p.m., a loss of 5,370 MW, according to Power Grid Bangladesh data. Gas-fired output dropped about 60 percent and coal-fired output about 39 percent as plants went offline. Parts of eastern Dhaka, including Gulshan, Rampura and Motijheel, lost power, as did areas of Chattogram. The Secretariat was without electricity for nearly an hour. The state-owned operator said power was restored in most affected areas and plants were returning in stages under the National Load Dispatch Centre. It warned that sporadic load-shedding might continue. A five-member committee led by a Transmission-2 chief engineer must report the technical cause and remedies within five working days.