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Boeing's 737 MAX 8 Jets Are Grounded in 5 Countries
The United Kingdom, Singapore, and Australia have joined China and other countries in banning the Boeing (BA) - Get Report 737 MAX 8 from entering and leaving their airports after the aircraft model crashed for the second time since October.
Nearly 40% of the in-service fleet of 371 Boeing 737 MAX jets globally has been grounded, according to industry publication Flightglobal, including 97 jets in China, the biggest market, Reuters reported.
Singapore's Civil Aviation Authority said it was "closely monitoring the situation" and the ban will be "reviewed as relevant safety information becomes available." Australia's Civil Aviation Safety Authority followed Singapore's lead by temporarily suspending the plane to review the risks.
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Dick's Sporting Goods Falls
The sporting goods retailer beat Wall Street's fourth-quarter earnings forecast but reported falling sales.
The Coraopolis, Pennsylvania-based company reported fourth-quarter net income of $102.6 million, or $1.07 a share. Adjusted earnings came to $1.22, exceeding analysts' estimates of $1.06. Net sales declined 6.5% from a year ago to about $2.49 billion, but were ahead of analysts' expectations of $2.48 billion. Same-store sales dipped 2.2%, compared with the FactSet estimate of down 3.3%. A year ago, the company reported earnings of $115.9 million and earnings of $1.11 a share.