What goes up must come down, unless it's a Boeing (BA) Starliner. The spacecraft has faced helium leaks (for propulsion) and thruster issues (for ...
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| | Top News  Getty Images What goes up must come down, unless it's a Boeing (BA) Starliner. The spacecraft has faced helium leaks (for propulsion) and thruster issues (for deorbiting) since flying to the International Space Station in June, stranding astronauts Butch Wilmore and Sunita Williams in the far reaches of the thermosphere. The mission to the ISS was supposed to only last eight days, but two months have already passed, and there's now talk of the situation lasting until early 2025.
Snapshot: There have been disagreements about the data and potential risks tied to Starliner amid investigations that are still ongoing. While Boeing has vouched for the craft, NASA leadership is still debating whether the vehicle can be deemed safe to return to Earth. The agency is now weighing a plan to bring back the astronauts via Boeing rival SpaceX, which has delivered food and supplies to the station, including extra clothes for Wilmore and Williams.
The coming weeks will be critical as a decision will have to be made whether to include two empty seats on the next SpaceX mission - whose launch has been pushed to September and has a return date of Feb. 2025. "If NASA decides to change the mission, we will take the actions necessary to configure Starliner for an uncrewed return," Boeing responded in a statement. However, it would be the latest in a series of reputation problems for the company (MAX jet crashes, door plug blowout and guilty plea) that will need to be resolved by new CEO Kelly Ortberg, who starts in his role today.
Out of this world: NASA's Commercial Crew Program was structured as a multi-tiered competition to get private sector companies to produce the most cost-effective, innovative and safe way to get to the International Space Station. While SpaceX has already sent nine manned missions to the ISS with its Crew Dragon capsule, Boeing has so far incurred $1.4B in accounting losses for its program, as well as many issues and delays during flight testing and manufacturing. If Boeing faces more trouble certifying the Starliner, it would deal a big blow to the ambitions of the aerospace giant, whose resume goes back to the Apollo moon missions. | | Featured  Want to get more from investing efforts? Take our world-class Premium service for a test drive. Sign up now, and you can try all of Premium's powerful tools and resources: - Our proprietary Quant ratings, plus ratings from Wall St. and analysts on Seeking Alpha
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Past performance is no guarantee of future results. Any content and tools on the platform are offered for information purposes only. Seeking Alpha does not take account of your objectives or financial situation and does not offer any personalized investment advice. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. | | Media Warner Bros. Discovery ( WBD) tumbled 10.5% AH on Wednesday as it posted an almost $10B loss for Q2. It was mainly due to a massive writedown of the value of its cable networks, reflecting how streaming has eroded the traditional cable TV business, as well as softness in the U.S. ad market and uncertainty related to affiliate and sports rights renewals. "Am I disappointed about the impairment? Yes," CFO Gunnar Wiedenfels declared. "There's been talk about recovery (in TV) a year, year and a half ago. It hasn't really happened." ( 48 comments) | | Consumer Cracking down on membership-sharing, Costco ( COST) is setting up devices at store entrances to discourage non-members from shopping at its locations. "Once deployed, prior to entering, all members must scan their physical or digital membership card," the company said in a press release. "Guests must also be accompanied by a valid member for entry." The move comes soon after the retailer hiked its membership fees for the first time in seven years, while its low prices continue to attract shoppers, with the latest monthly sales rising 7.1%. COST shares are up 23% YTD. ( 13 comments) | | Outlook "The spot component of the global carry basket would suggest that 75% of carry trades have been removed," JPMorgan strategists wrote in a fresh research note. Much of the market volatility over the past week is said to have emanated in Japan, where a carry trade based on the yen went sour as the BOJ raised rates during the same week the Fed signaled its intention to cut. "The clock is [still] ticking for the G10 carry," the analysts noted, describing another carry trade that involves borrowing at low rates to invest in higher-yielding assets elsewhere. ( 4 comments) | | Today's Markets In Asia, Japan -0.7%. Hong Kong +0.1%. China flat. India -0.7%.
In Europe, at midday, London -1.2%. Paris -1.2%. Frankfurt -0.8%.
Futures at 7:00, Dow -0.3%. S&P -0.1%. Nasdaq flat. Crude -0.1% to $75.15. Gold +0.4% to $2,442.70. Bitcoin +0.2% to $57,373.
Ten-year Treasury Yield -3 bps to 3.92%. Today's Economic Calendar | | | | | Seeking Alpha's Wall Street Breakfast Podcast Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day. | | | | |
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