Boeing seems to be having yet another battery problem. Japan Airlines grounded one of its Boeing 787 Dreamliners in Tokyo after white smoke was spotted outside the plane and warning lights indicated a possible battery problem. Boeing said the problem was discovered during maintenance and not when passengers were on board. The incident comes a year after a battery fire aboard a 787 in Boston. Right after that, there was another battery problem that forced an emergency landing in Japan. Shares fell a fraction to $140.01.
There are reports out today that Microsoft is ditching its Windows 8 operating system for Windows 9. The Windows 8 software was introduced a little over a year ago and suffered criticism from consumers. The new version is reportedly going to be announced in April. Separately, Microsoft’s stock was downgraded by Citi to “neutral” from “buy.” The note said there are high expectations for the company’s new CEO whenever he or she is announced. Still, shares rose more than two percent to $35.78.
Intel got an upgrade from JP Morgan to “overweight” from “neutral” and the firm more than tripled its price target on the stock. The analyst said he was “making a leap of faith” on PCs in 2014 and the chip maker’s new CEO. He expects the company’s margins and returns to improve this year. That lifted shares up almost four percent to $26.51.
Tesla delivered 6,900 Model-S sedans in the fourth quarter, which is 20 percent more than estimates. The company also expects global sales and service locations to double this year. Separately, Tesla said it was giving out nearly 30,000 new car chargers to customers last week because of concerns the equipment could overheat and cause a fire. Federal safety regulators classified that move as a recall. The stock shrugged that off, shares rose nearly 16 percent to $161.27.
Shares of Gamestop took a major hit today after the company warned of a profit miss because of weak holiday sales. The videogame chain blamed the declines on the switch to next generation consoles like the Xbox One and PlayStation 4, which weighed down the sales of old games. The stock plunged, down almost 20 percent to $36.31.
Regeneron Pharmaceuticals is teaming up with Bayer AG to develop a treatment for one of the most common forms of age-related blindness. The drug would work in combination with another treatment called Eylea, which the two companies developed for the same condition. That drug is already the company’s top-selling product. Shares surged up almost 12 percent to $300.32.