What Investors Found to Like in Boeing's Tea Leaves
Is an embattled Boeing performing above or below forecasts? It may be better to just go with your gut.
The Virginia-based plane maker confirmed Tuesday that revenues shrank 31% in the fourth quarter of 2024 from a year earlier, and that free cash flow was negative $4.1 billion. This reflected a machinist strike, capping another horrible year that included another accident on a Boeing 737 MAX, the company's Starliner spacecraft leaving astronauts stranded and a change in chief executive.
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Business Wire
an hour ago
- Business Wire
Two Strategic Acquisitions, Establishes Leading Manufacturer
WAYNE, Pa.--(BUSINESS WIRE)--Inverness Graham, a Philadelphia-based buyout firm focused on acquiring innovative companies where technology is transforming traditional industry, announced today that its single-use surgical products manufacturer, Innovia Medical ('Innovia'), has closed on two strategic acquisitions in Grace Medical and Hurricane Medical. These transformative acquisitions accelerate Innovia's strategic vision of building a vertically integrated manufacturer of physician-preferred, consumable surgical products specializing in Ear, Nose and Throat ('ENT') and Ophthalmic procedures, as well as sterile processing systems. Based in Memphis, TN, Grace Medical is a leading manufacturer of single-use surgical implants, instruments and related consumable products for ENT procedures. The company's robust in-house manufacturing capabilities, deep physician relationships and proprietary product portfolio – supported by over 20 patents – position the combined business for sustained growth in its ENT activities. Based in Bradenton, FL, Hurricane Medical is a leading manufacturer of single-use ophthalmic surgical products and instruments used in virtually every type of ophthalmic surgery. With a purpose-built, automated production facility, Hurricane Medical adds significant scale, efficient manufacturing capabilities and potential for accelerated growth for Innovia's ophthalmology business. 'The additions of Grace Medical and Hurricane Medical represent a truly exciting milestone in Innovia's journey and will be transformational to the growth of the combined business,' said Aliya Khaydarova, Managing Principal at Inverness Graham. 'Grace Medical and Hurricane Medical meaningfully expand Innovia's presence in the attractive ENT and ophthalmic markets, enhance the overall product portfolio and manufacturing capabilities, and unlock synergy opportunities with current and new customers. We look forward to supporting the combined team as they integrate and continue to drive accelerated growth.' 'We are thrilled to welcome Grace Medical and Hurricane Medical to the Innovia family,' said Terry Meredith, CEO of Innovia Medical. 'Both companies bring clinically differentiated, trusted products and strong customer relationships that align with Innovia's focus on providing innovative, physician-preferred solutions. The combination of our three businesses is an exciting step forward as we enhance our offerings to ENT and ophthalmic surgeons around the world.' Faegre Drinker Biddle & Reath served as legal counsel and Robert W. Baird as exclusive financial advisor to Inverness Graham. Terms of the transaction were not disclosed. About Inverness Graham Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm's Flagship strategy focuses on high-growth businesses in Healthcare, Tech-Enabled Services / Software and Advanced Manufacturing. The firm's Green Light strategy targets tech-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary Strategic Platform Build approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.
Yahoo
2 hours ago
- Yahoo
Virginia emerges as key bellwether ahead of midterms
Virginia's off-year elections are being viewed by both parties as a key bellwether heading into next year's midterms, as well as a potential indicator for how voters view President Trump. Lt. Gov. Winsome Earle-Sears (R) and former Rep. Abigail Spanberger (D-Va.) will face off to become the first female governor of the state, while Democrats will seek to maintain and grow their majority in the House of Delegates. The races could prove to be a litmus test for the first year of Trump's second administration as Republicans prepare to defend their majorities in Congress next year, especially as Virginia has a tendency to oscillate between the two parties in the race for governor. 'The Democrats want to look at this as a bellwether largely because they think they have an advantage here,' longtime Virginia political analyst Bob Holsworth said. The nonpartisan Cook Political Report and Sabato's Crystal Ball each rate the gubernatorial contest as 'lean Democratic.' A Roanoke College survey released in May showed Spanberger with a wide 43 percent to 26 percent lead over Earle-Sears, with 28 percent of voters saying they were undecided. However, another May poll released by the business group Virginia FREE showed Spanberger leading by 4 percentage points. Spanberger also holds a fundraising lead over Earle-Sears. According to the Virginia Public Access Project, Spanberger raised $6.5 million, while Earle-Sears brought in $3.5 million; Spanberger currently has more than $14 million in the bank, while Earle-Sears has just less than $3 million. Spanberger, a former intelligence officer, has a history as a formidable candidate, having unseated former Rep. Dave Brat (R) in the state's highly competitive 7th Congressional District and gone on to win reelection twice. Additionally, she has touted herself as a moderate Democrat, pointing to her work across the aisle while serving in the House. While Spanberger has touted a number of kitchen table issues including affordability, investing in schools and community safety, she also often points to federal government job cuts made under Trump's Department of Government Efficiency (DOGE). The cuts have had a unique impact on Virginia, given the federal government's close proximity to the state. 'Virginia is home to more than 320,000 federal employees,' Spanberger said in an interview with The Hill. 'I will never miss an opportunity to make sure the president understands that the haphazard DOGE effort has been deeply, deeply detrimental to Virginians, to their families, to our economy, and that the havoc it has wreaked across our commonwealth is so significant.' 'As a former national security professional, I have dire concerns about what the future looks like,' she said, referring to laid-off government employees with 'institutional understanding and historical references.' Earle-Sears, who is originally from Jamaica, has a background as a Marine Corps veteran and business owner. She served in the House of Delegates from 2002-04, ending her tenure when she challenged Rep. Bobby Scott (D-Va.) in the state's 3rd Congressional District in 2004. In 2021, she became Virginia's first female lieutenant governor, winning alongside Gov. Glenn Youngkin (R) and Attorney General Jason Miyares (R). Earle-Sears has leaned into her work in the Youngkin administration in making her case to the commonwealth's voters, particularly on job creation. '[Voters] all pretty much say they want what we are doing in Virginia to continue, and my opponent's problem is she was never a part of creating this great economy that we have, bringing all these jobs to Virginia,' Earle-Sears told The Hill in an interview. In the wake of the DOGE cuts, Youngkin and Earle-Sears have touted the administration's 'Virginia Has Jobs' initiative, which includes 250,000 open jobs in the state. A 'support resource bundle' would also be available to federal workers looking for work. Democrats have attacked Earle-Sears over her response to the impact of DOGE cuts on the state, however, pointing to remarks she made earlier this year in which she touted the state's jobs initiative and said losing a job is 'not unusual.' 'I have lost a job, and in any room that this has been brought up, I ask the people: 'How many of you have ever lost a job?'' Earle-Sears told The Hill last month, referring to remarks from earlier this year. 'I raised my hand, along with them. And I got to tell you, we don't want people to, of course, not have jobs, and that's why we have been so successful in creating over 270,000 of them.' However, Republicans are still voicing concerns about Earle-Sears's chances in November. Veteran GOP strategist and senior adviser to Trump's 2024 presidential campaign Chris LaCivita called her staff 'amateurs' in a post on the social platform X in May, while one Virginia Republican strategist called this year's cycle 'a hard hill to climb' for Republicans. 'The money disadvantage is massive, and that's a problem,' the Virginia GOP strategist said. 'That's the challenge beyond structure: the resource piece, and running really good campaigns.' The strategist noted that in addition to touting her work in Youngkin's administration, Earle-Sears could draw on issues that have played well for Republicans nationally. 'There are encouraging signs,' the strategist said. 'Obviously the president's approval rating, stability around the world, stability on trade policy. There are the conditions for the national environment to be solid, and yet still it is a challenging state to compete in simply because of the makeup of the state and, historically, just with the party in power, it makes it difficult to [hold onto the governorship].' During Trump's first administration in 2017, Democrats saw victories in the gubernatorial, lieutenant gubernatorial and state attorney general races. Democrats did not win a majority in the House of Delegates that year, but they narrowed the GOP majority to one seat. Two years later, in 2019, Virginia Democrats gained control of the House of Delegates and the state Senate, giving the party control of both legislative chambers and the governor's mansion for the first time since 1994. In 2021, when former President Biden was in the White House, Republicans hit back in the state's off-year elections, when they won back control of the House of Delegates and Youngkin won the gubernatorial contest. When asked about whether Trump's presence in the White House will impact the gubernatorial race, Earle-Sears said the campaign is about her and Spanberger. 'This race is about Abigail Spanberger and me and the commonsense ideas that I stand for,' Earle-Sears said. 'People can differentiate and make that distinction.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Axios
2 hours ago
- Axios
Some of Washington's top craft brewers saw sales slip in 2024
Four of Washington state's 10 largest craft breweries reported falling sales in 2024, with another stuck at zero growth, according to Brewers Association data. Why it matters: Even Washington's storied craft beer industry is struggling with shifting drinking habits, rising costs and crowded competition, echoing national challenges. By the numbers: Silver City Brewery in Bremerton reported a 21% drop in sales last year, the largest decline among Washington's top 10 craft brewers. Ackley Brands, which bought Redmond-based Mac & Jack's Brewing Co. in 2023, saw a 12% decline. Bale Breaker Brewing Co. in Yakima had a 5% drop in sales, while Iron Horse Brewery in Ellensburg saw a 9% drop. Spokane's No-Li Brewhouse posted 0% growth. Yes, but: It wasn't all gloomy news for big local brewers. Seattle's Georgetown Brewing Co. and Fremont Brewing saw their sales climb. So did Stoup Brewing, which has locations in Seattle and Kenmore, and Black Raven Brewing Co., which is based on the Eastside. Leavenworth's Icicle Brewing Co. saw the biggest increase: 28%. What they're saying: Increased demand for nonalcoholic options and the proliferation of ready-to-drink cocktails are contributing to "challenging times" for local breweries in Washington and elsewhere, Daniel Olson, executive director of the Washington Brewers Guild, told Axios. That said, "we're faring better than most," Olson said. "We're seeing some really good breweries that are making some really good beer, and consumers are recognizing that," he said. State of play: More craft breweries closed than opened in Washington in 2024, he said, mirroring a national trend. Between the lines: Many brewers are adding nonalcoholic options and other products like hard ciders to broaden their appeal, Olson said. Case in point: Fremont Brewing introduced a nonalcoholic IPA in 2023, while Georgetown Brewing bought Timber City Ginger Beer late last year. What we're watching: In a December 2024 report, Bart Watson of the Brewers Association wrote that brewers were bracing for another challenging year in 2025, due in part to market pressures and potential tariff impacts.
