Shares of industrial and transportation companies were higher as inflation eased in February but remained stubbornly high, presenting a challenge for the Federal Reserve.
United Airlines Holdings shares fell after the airline operator said it expects to post a loss in the current quarter due to expenses tied to a potential agreement with its pilots union and weaker traveling trends to start the year.
Southwest Airlines said it has identified several solutions to manage the kind of severe winter-weather disruptions that caught it off guard late last year, resulting in thousands of flight cancellations.
Chief Executive Bob Jordan said the company understood what caused the holiday disruption. "We expect to mitigate the risk of an event of this magnitude ever happening again," he said Tuesday.
Honeywell tapped a 34-year company veteran to succeed current Chief Executive Darius Adamczyk, a switch that comes as the industrial company faces slowing growth in the year ahead. Honeywell named Vimal Kapur, 57 years old, as its next CEO, effective June 1.
Two Saudi Arabian airlines said they would buy almost 80 Boeing 787 Dreamliners, part of a broader plan to boost travel to the oil-rich kingdom.
U.S. administration officials said the deal was worth a combined $37 billion and included options to take the sale up to 121 aircraft. The jets would be powered by U.S.-made General Electric engines.
Ohio Attorney General Dave Yost sued Norfolk Southern, seeking to hold the company financially responsible for the train derailment in East Palestine.
The complaint, filed in U.S. District Court of the Northern District of Ohio on Tuesday, sought civil penalties, damages, court costs and other relief for the Feb. 3 incident, which led to the derailment of 38 cars, including 11 tankers carrying hazardous materials that caught fire.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
03-14-23 1656ET
