Top Corporate Developments on Thursday: Boeing Under Scrutiny and Microsoft Outpaces Apple

On Thursday, key company news revealed significant occurrences in the business landscape. Topping the news was the Federal Aviation Administration (FAA) formally notifying Boeing about an investigation into a recent incident involving a MAX 9 aircraft. This investigation aims to ascertain whether Boeing has fulfilled its obligations in ensuring that its products are secure and adhere to approved design standards.

Boeing's Scrutiny Intensifies

The spotlight on Boeing follows an incident with its MAX 9 model, calling into question the safety measures and design approvals at the aerospace giant. In response to the incident, Alaska Air has decided to keep its MAX 9 planes grounded until at least Saturday, impacting numerous flights. Meanwhile, Boeing shares have seen some stabilization even as the future of the 737 MAX 9 aircraft remains uncertain.

Novartis Retreats From Cytokinetics Pursuit

In the world of pharmaceuticals, Novartis has indicated a retreat from its pursuit of Cytokinetics. This move comes amid various strategic adjustments within the industry.

Microsoft Ascends to Top Spot

The tech sector has witnessed a significant change with Microsoft's AI-driven rally pushing its market value above Apple's, crowning it the largest U.S. company for the first time since November 2021.

Banks Ready to Unveil Quarterly Reports

As earnings season approaches, financial institutions like JPMorgan, Wells Fargo, and Bank of America are preparing to share their financial results for the fourth quarter.

Hertz to Sell Portions of its EV Fleet

Hertz, the car rental firm which had made a hefty investment in Tesla's electric vehicles (EVs), plans to sell off about one-third of its EV fleet in the U.S. to fund the acquisition of more traditional internal-combustion-engine vehicles.

The Endurance of Dividend Kings

Investors have often found value in companies with a history of increasing their dividends for six decades or longer, hinting at sustainable business models and shareholder value.

Amazon's EU Regulatory Hurdles

E-commerce behemoth Amazon has missed the EU's deadline to propose concessions over its planned acquisition of iRobot, the company behind the popular Roomba vacuum cleaner, casting potential uncertainty on the $1.7 billion deal.

The Landscape of Job Cuts

Major corporations, including Google, Amazon, BlackRock, and Xerox, have announced job cuts as they enter the new year, reflecting the broader market's adjustments and challenges.

Energy Sector Consolidation

In energy sector news, Chesapeake and Southwestern announced plans to merge in a $7.4 billion all-stock deal, positioning the new entity as a titanic natural-gas producer in the United States. This merger is part of an ongoing trend of consolidations in the energy industry.

Boeing, Microsoft, Novartis