Futures for the leading stock indexes are down ahead of the opening bell, with the Dow Jones Industrial Average — riding an eight-day winning streak — and Standard & Poor’s 500 index off about 0.2%.
On the rise are shares of Boeing (BA), up close to 1% after the Federal Aviation Authority gave initial approval for the company’s proposed fix for the 787 Dreamliner’s troubles.
The FAA’s announcement Tuesday sets the stage for the start of flight tests and what the agency called “extensive” additional safety analysis of Boeing’s measures, which are designed to prevent possible overheating and fires in the 787′s lithium-ion batteries.
The agency described its move as “the first step in the process to evaluate the 787′s return to” commercial service and said the test flights and other assessments will require Boeing “to demonstrate compliance with the applicable safety regulations and special conditions.”
Meanwhile, Bloomberg reports that Boeing has won a $15.1 billion order from Ryanair Holdings:
Winning an order for the current 737 variant, known as the NG, is a boost for Chicago-based Boeing because airlines are shifting their sights to the more-efficient [upgrade] Max, leaving several hundred older models to be sold to ensure a smooth production transition. Boeing is preparing to introduce the upgraded plane in 2017 to compete with�Airbus�s revamped A320neo.
Also moving this morning are shares of Coach (COH), up more than 2% in early trades.�Barron’s was bullish on Coach in the Feb. 23 issue, at a time the company was seemingly losing out to Michael Kors (KORS); since then, Coach’s stock is up 4.9% while Michael Kors’ has fallen 4.8%.
Elsewhere, the Wall Street Journal is reporting that Carlyle Group�(CG) is lowering the investment minimum in its buyout funds to $50,000.
Buyouts are deals in which firms leverage their investors’ money with debt to buy companies, with the goal of improving the businesses and reselling them for a profit.
Historically, access to these funds has been limited to pension funds, endowments and individuals wealthy enough to commit millions of dollars for years at a time.
But in moving down-market to attract new funds, Carlyle and other firms could face questions from some institutional and ultrarich clients drawn to such firms partly for their exclusivity.
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