New Boeing CEO, oil prices rise on tensions: Morning Brief
Seana Smith and Brad Smith help investors start the day off right, reporting on the leading industry stories ahead of the market open in today's episode of The Morning Brief. Microsoft's (MSFT) stock faces pressure on Wednesday following its fiscal fourth quarter earnings report. Despite beating estimates on both revenue and earnings, the tech giant fell short of Intelligent Cloud revenue expectations. After a tumultuous year so far for Boeing (BA) due to several mid-flight incidents and federal probes into its aircraft manufacturing, the company has picked former Collins Aerospace CEO Robert Kelly Ortberg to replace chief executive Dave Calhoun starting August 8. Stifel equity research analyst Bert Subin joins the Morning Brief team to discuss what Ortberg's resume could mean for the aerospace manufacturer. Crude oil prices (BZ=F, CL=F) are drawing attention as geopolitical tensions impact the market. Middle East conflicts are escalating following the assassination of prominent Hamas leader Ismail Haniyeh in Iran, causing oil prices to rise during Wednesday's trading session. Yahoo Finance reporter Ines Ferré joined the show to break down this development and its implications for the global oil market, also examining patterns in gold futures (GC=F). For more expert insight and the latest market action, click here. This post was written by Nicholas Jacobino