Boeing’s 99 Problems

We swear that we’re tired of writing about every single engineering problem at Boeing. After assuring that they would solve their plane problems, Boeing picked up a new bit: spacecraft problems. To quote Jay-Z, [Boeing] has 99 problems … and a [spacecraft] is one. 👽 😂

Boeing will cancel a planned test flight for its reusable crew capsule, Starliner, citing the need for “deeper-level troubleshooting of … [the] propulsion system valves.” The capsule will be sent back to the factory and aim to launch later this year, but it’s unlikely it will meet that deadline, according to space journos and experts alike.

Starliner is a reusable crew capsule meant to transport crew to the ISS and other orbital destinations, funded in-part by the government’s new commercial crew program. The only other member of the program is SpaceX, which has already launched its own crewed craft, Crewed Dragon. ⭐

Unfortunately, it’s not the first time that Boeing has fallen behind competitions and disappointed pretty much everybody. Over the last two years, the company has grappled with one technical woe after another. The company’s 737MAX was grounded for over a year after two fatal crashes killed 346. Though the plane was recertified in the US in January, whistleblowers have nailed Boeing for its production and quality assurance problems. The plane is still awaiting recertification in other markets, including India and China.

And even more frequently, Boeing had another problem with a completely separate plane. In July, Boeing confirmed issues with its largest plane, the 787 Dreamliner.

While Starliner does not produce the kind of revenues that Boeing’s aircraft sales do, this spells bad news for the aerospace company. Issues with planes and spacecraft translate to endemic problems in the company, which is certain to shake faith among investors. On the news today, $BA stock fell 1.52%.

Thailand Scores Major EV Win

Thailand has been helping lead the electric vehicle (EV) push, with the second-biggest economy in Southeast Asia looking to achieve carbon neutrality by 2050. ♻️

The country is known as the “Detroit of Asia,” serving as a major manufacturing hub. As part of that, it’s looking to make 30% of its car output electric by 2030 so that it doesn’t lose its leadership position in the EV transition. Its government is putting up major funds to help fund that, approving $970 million in tax cuts and subsidies to help encourage demand and boost local production. ⚡

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$LUNR Reaches A “Tipping Point”

One of the top stories in the market over the last 24 hours has been Intuitive Machines’, which trades under the ticker symbol $LUNR. 📻

The space exploration company’s Nova-C cargo moon lander known as “Odysseus” became the first privately developed spacecraft to land on the lunar surface. It was also the first U.S. spacecraft to soft-land on the moon in over 50 years. 🌝

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Pfizer’s Flop Continues

It’s been a rough ride for pharmaceutical giant Pfizer since the end of the pandemic, and that rollercoaster ride continues today. 🎢

The company last announced earnings in October but needed to update Wall Street on its 2024 forecast. It cited weak demand for its Covid products as the reason for a weaker-than-anticipated revenue and earnings forecast.

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Adobe Leads Day Of Breakups

Most of today’s stories were related to hookups in the market, but we also need to touch on some major breakups. 💔

The first and most prevalent news story was that Adobe and Figma have called off their $20 billion acquisition. The two companies have faced intense scrutiny from European regulators, today saying, “There is no clear path to receive necessary regulatory approvals from the European Commission and the U.K. Competition and Markets Authority.”

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