Shares of industrial and transportation companies fell despite strong manufacturing data amid concerns about renewed stresses on the banking system.
Durable-goods orders jumped 3.2% last month, lifted by a sharp increase in jet orders. Boeing shares rose after the aerospace giant said revenue rose 28% to $17.9 billion in the first quarter as demand for jets continued to build.
Two Saudi airlines ordered almost 80 Boeing Dreamliners in a roughly $37 billion order in March. The planemaker left its earnings projections intact despite recent manufacturing hitches with its 737MAX jet that will delay some deliveries.
Avery Dennison shares slid after the maker of labels, tags and other specialty commercial supplies posted a drop in first-quarter sales, citing inventory destocking by customers.
Jeep maker Stellantis plans to offer buyout packages to both white-collared and hourly workers as it trims costs in some areas to fund its transition to electric vehicles.
Freight railroad Norfolk Southern said the Ohio train derailment that spilled toxic chemicals could cost the company almost $400 million, as the complex cleanup and investigation into the accident continues.
Electric-vehicle maker Fisker rose after its Ocean sports-utility vehicle received clearance for sale from European regulators.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
04-26-23 1701ET
