Boeing’s newest CEO, Kelly Ortberg, receives high praise from “Mad Money” host Jim Cramer, who calls him the most underrated CEO in the US. Ortberg has a longstanding tenure in aerospace and defense sectors, taking over Boeing in 2024 after his predecessors faced challenges.
Boeing’s turbulent 2024 included a 53-day machinist strike, layoffs, and job cuts, leading to $11.8 billion in net losses. Ortberg aims to improve quality, manage costs, and secure new deals with airlines. Despite challenges, Boeing stock is up 22% year to date, with sales rising 26% to $42.2 billion.
Cramer reports buying Boeing stock heavily, impressed by Ortberg’s leadership and the company’s turnaround efforts. Ortberg’s hands-on approach to improving performance at Boeing has caught Cramer’s attention, likening it to “living on the factory floor.”
Yahoo Finance’s Brian Sozzi hosts insightful conversations with top names in business on Opening Bid Unfiltered. Stay updated on the latest technology news impacting the stock market and read more financial and business news on Yahoo Finance’s website. 1. The stock market hit record highs today, with the S&P 500 closing at 4,200 and the Dow Jones Industrial Average reaching 34,000. Analysts attribute the surge to positive economic data and strong corporate earnings reports.
2. In international news, tensions are rising between Russia and Ukraine as Russian troops continue to amass near the border. The US and European leaders have expressed concern over the situation, calling for a de-escalation of the conflict.
3. COVID-19 cases are on the decline in the US, with the daily average dropping to 50,000. Health officials credit the vaccine rollout for the decrease in infections and hospitalizations. However, they warn that variants remain a threat and urge continued vigilance.
4. The housing market is booming, with home prices reaching record levels across the country. The median price for existing homes jumped to $329,100 in March, a 17% increase from the previous year. Low inventory and high demand are driving the market frenzy.
5. In tech news, Apple announced a new line of iPads with improved performance and features. The iPad Pro now boasts a faster processor and 5G connectivity, making it a popular choice for remote work and entertainment. The devices are set to hit stores next month.
Read more at Yahoo Finance: Why Jim Cramer says this is the most underrated CEO in America