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Today's big stories

Boeing’s third-quarter earnings weren’t as bad as expected, but things aren't getting better quickly
Our analyst Carl has spotted an investment strategy that’s outperformed the US stock market by 16% – Read Now
Heineken’s announced incoming job cuts despite better-than-expected third-quarter earnings

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Cheap Tricks

What’s Going On Here?

Boeing announced better-than-expected earnings on Wednesday, but the US aircraft maker’s going to some pretty extreme lengths to cut costs.

What Does This Mean?

Boeing didn’t lose as much money in the third quarter as analysts had forecast, but the $466 million it did lose shows just how dire its situation is. What’s more, its customers – the world’s airlines – have ordered fewer than half the planes they did in 2019 so far this year, and they only tend to pay in full when the goods are actually delivered. That means Boeing needs to cut costs – and fast.

Unfortunately, it’s doing that by slashing even more jobs than the 16,000 announced in May. A not-so-grand total of 7,000 more people are going to be laid off, in view of ending up with 30,000 fewer staff by the end of 2021.

Why Should I Care?

Zooming in: Come fly with me. Please.
This pandemic would’ve always been a problem for Boeing, but it arrived at a particularly bad time: the manufacturer was already facing a crisis after two separate crashes saw its 737 Max airplanes grounded indefinitely. So it might’ve been relieved to finally get the all-clear from the European regulator last week, with the same expected to happen in America. And not a moment too soon: Boeing received two orders for the plane in August.

The bigger picture: Strap in, Boeing.
Before the coronavirus outbreak, business travel represented around a third of all US flights and half of all US airlines’ revenue. But while air travel is picking up again, that owes more to holiday-makers than it does execs with a perfectly serviceable Zoom account. That means airlines – and by extension Boeing – are losing out on a major source of income, and they’d better get used to it: some airlines think it’ll take up to 10 years for business travel to get back to normal (tweet this).

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2/3 Premium

Strategic Thinking

What’s Going On Here?

Our analyst has spotted an investment strategy that’s outperformed the US stock market by 16%, based on who’s buying and selling certain stocks.

Get the strategy for yourself with Finimize Premium

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3/3

What A Headache

What’s Going On Here?

Shhhhh, not so loud: Heineken’s quarterly results might’ve beaten expectations on Wednesday, but they left investors with a grim taste in their mouths.

What Does This Mean?

Beer is still very much a tonic for these trying times, but it’s one Heineken’s customers are knocking back in their own homes rather than out and about. And that isn’t good news for the world second-biggest beer brewer: it doesn’t just make less money from stores than it does from bars, it spends more producing cans and bottles too.

So with the pandemic surging worldwide yet again – and with stay-at-home orders traipsing not far behind – Heineken’s decided it needs to cut costs. And while it previously promised not to cut jobs this year, it turns out the company can’t stick to that in 2021: it’s planning to reduce its workforce by 20%.

Why Should I Care?

For markets: If Carlsberg did earnings reports...
At least rival Carlsberg came away from its earnings update on Tuesday feeling fresher: the brewer’s beer sales were stronger than analysts had expected, which might be down to strong performances in places like Russia and China. It lifted its 2020 profit forecast for the second time in a row too, while the only thing Heineken had to say about the rest of the year was that it’d be a volatile time.

The bigger picture: Booze-free is the new boozy.
Heineken’s now looking to win over new beer-drinkers by doubling down on the alcohol-free market. And that might prove a shrewd move: Carlsberg – whose booze-free segment grew by 29% last quarter – reckons the market in Western Europe will triple to 15% in the next few years, while brewing powerhouse AB InBev has pledged that zero-alcohol drinks will make up 20% of its portfolio by 2025. And if they can make it taste like beer by then, all the better.

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💬 Quote of the day

“Blues is easy to play, but hard to feel.”

– Jimi Hendrix (an American musician, singer, and songwriter)

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😎 We’re cool now

Decentralized finance – which the cool kids know better as “DeFi” – is the hottest new cryptocurrency theme of 2020. But what is it, and what kinds of opportunities does it offer you? All will become clear at next Wednesday’s event…

🙋‍♀️ The Future Is Female: 2.30pm New York Time, October 29th
🔥 The Hottest Trend in Crypto: DeFi: 6pm UK Time, November 4th
☝️ Level Up Your Professional Brand: 5pm Dubai Time, November 3rd
📈 Creating A Diversified Portfolio: 2.30pm UK Time, November 11th

📚 What we're reading

Oh great, now we’ve got an asteroid to deal with (Gizmodo)
Scientists have discovered a new organ (Live Science)
Is American empathy dead? (NPR)

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Finimize - 🔧 Boeing's falling apart

Today's big stories

Cheap Tricks

What’s Going On Here?

What Does This Mean?

Why Should I Care?

Strategic Thinking

🍷 Cheers to Bright Cellars

What A Headache

What’s Going On Here?

What Does This Mean?

Why Should I Care?

😎 We’re cool now

🍲 Bring the restaurant into your home

Older messages

🚀 Microsoft takes off

🙋‍♀️🙋‍♂️ Let's get to know you

🥇 Goldman goes for gold

"Apple isn’t actually worth $2 trillion”

📈 Coke adds Mentos

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