GE Aerospace (GE) news that moved the stock

What happened

GE Aerospace reported third-quarter adjusted EPS of $2.25 on revenue of $13.3 billion, beating consensus of $2.01 on $12.9 billion; a year ago it earned $1.66 on $11.3 billion. Orders surged 49% year over year to $19 billion, well above sales, and commercial services revenue grew 17%. Management raised full-year guidance again: sales now expected to grow 19–20% (up from high-teens in July, and from 10–12% at the start of the year) and EPS to $8.00–$8.10 (up from $7.65–$7.85). Despite the beat-and-raise, shares fell 3.1% in early trading to $301.50 — on pace for the fourth straight post-earnings decline. Also reporting Tuesday morning: 3M beat EPS by 5% and nudged up full-year guidance; Hasbro raised its annual revenue forecast; Halliburton beat estimates and jumped 4%; and defense names Northrop Grumman and RTX ticked higher.

What happened

The Wall Street Journal reported Saturday, Sept. 26 that Boeing had identified a previously undisclosed 737 MAX software glitch that could cause an automated navigation feature to fail during landing. Boeing confirmed it: "Last month, we informed all 737 operators about a software issue where pilots may not have access to automated flight guidance during a specific landing scenario," adding engineers are working on a permanent software update. On Monday, Sept. 28, the FAA said it was aware of a potential issue in the flight-computer software update and "will convene a Corrective Action Review Board (CARB) and will take immediate action if it identifies a safety concern"; FAA Administrator Bryan Bedford separately said the agency "will be delaying the [MAX] 10 until we're satisfied that we don't have an issue here." Boeing shares fell 6.9% Monday to ~$184.29–$184.39 (a 10-month low, biggest fall since last October), leading Dow decliners.