Companies to Watch: Boeing takes massive hit, Caterpillar misses, VF Corp raises guidance


Here are the companies Yahoo Finance is watching today.

Boeing (BA) is disappointing a lot of investors this morning after posting a massive loss of $5.82 a share last quarter. Revenue also came in weak. The poor results reflect a $4.9 billion dollar charge, connected to the grounding of Boeing's 737 Max planes. Boeing is also holding off on issuing new guidance because of the uncertainty over when those jets will be back in the air.

A disappointing quarter at Caterpillar (CAT) as well. The equipment maker fell short on profit but sales were in-line with estimates. Caterpillar has been hit hard by global trade worries. The CEO insists they quote "have the right strategy" to "deliver long-term profitable growth"

V.F. Corporation (VFC) is feeling confident. The maker of Vans, Timberland, and The North Face is raising its full-year profit forecast after it beat quarterly estimates, reporting a 6% revenue increase. The apparel maker is banking on growing demand of its brands..and raised its outlook for 2020 to include an additional $20 million investment.

It looks like Tesla (TSLA) buyers are opting for the cheaper Model 3, at least in California. Registrations of the pricier model S sedan were down 54% last quarter, according to an industry report. And registrations of the Model X in the golden state were down 40%. Tesla is schedule to report Q2 results after today's closing bell.

After a six month search, GlaxoSmithKline (GSK) has found a new leader. The pharmaceutical giant appointed Jonathan Symonds to replace Phillip Hampton as non-executive chairman. Symonds was formerly finance chief at rival drugmakers Novartis and AstraZeneca. He is tasked with guiding GlaxoSmithKline through its expected split of its consumer health and Pharma business.