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Turkish Airlines Signs MoU for Purchase of 300 LEAP-1B Engines with CFM
Turkish Airlines and CFM International signed a Memorandum of Understanding for the purchase of more than 300 LEAP-1B engines, including spares, to power 100 firm and 50 option Boeing 737 MAX aircraft announced in September 23. The long-term services agreement will cover airline's entire LEAP-1B engine fleet, including previously ordered and delivered engines, spares, and engines associated with leased aircraft and potential options. Together, these represent more than 600 LEAP-1B engines operated by Turkish Airlines and its subsidiary AJet. The MoU was signed during a ceremony in Istanbul by Prof. Murat eker, Chairman of the Board and the Executive Committee of Turkish Airlines, Mikail Akbulut, CEO and Board Member of Turkish Technic, and Olivier Andries, CEO of Safran, one of CFM's two parent companies. It also includes a material services agreement to support the establishment of an engine maintenance, repair, and overhaul facility in Turkiye. As Turkiye's flag carrier, Turkish Airlines currently operates a fleet of 96 Boeing 737 Next Generation aircraft with CFM56-7B engines (including Ajet Fleet), as well as 79 Boeing 737 MAX aircraft powered by LEAP-1B (including AJet fleet).
Major Averages Decline as Oil Prices Come into Focus
The major averages had a down day to start the week, with oil prices in focus after President Donald Trump rejected conditions for a ceasefire presented by Iran. Meanwhile, Treasury yields continued to climb to multi-year highs amid expectations that higher energy prices could put further pressure on inflation and increase the likelihood of additional rate hikes.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nvidiahas launched an agent safety platform following recent security incidents and authorized an additional $150B under its existing share repurchase programMongoDBCEO Chirantan Desai has left the company to take on the role as Meta'sEnterprise Platform OfficerBoeinghas discovered a glitch to the 737 MAX software that could cause its automated navigation feature to fail, WSJ reportsBrixmorand Everview Partners agreed to acquire Slate Grocery REITfor $2.34BJana Partners is pushing Fiservto more than double planned cost reductions, Reuters reports2. WALL STREET CALLS:Royal Caribbeanupgraded to Buy at both Deutsche Bank and BofARobloxdowngraded to Underperform at JefferiesPark Hotelsupgraded to Strong Buy from Market Perform at Raymond JamesPepsiCodowngraded to Hold from Buy at Deutsche BankSweetgreenupgraded to Overweight at Wells Fargo3. AROUND THE WEB:The White House is weighing broader use of tax-exempt red-dyed diesel as an alternative to restricting exports, Reuters reportsTrump is expected to announce a $15B Mesabi Metallics steel factory in Iowa, Bloomberg saysAirbusand Leonardoare investigating a coatings defect affecting about 500 A321neo jets, Reuters reportsFugazi Research said in a new research report that the firm considers Greenland Energy'sstock "uninvestable" at "any price above zero"A EUR 10.3B bid by BASFfor Evonikhas been rejected as too low to warrant negotiations, setting up a potential takeover battle as Evonik pursues restructuring and divestitures amid broader consolidation in Europe's challenged chemicals industry, FT reports4. MOVERS:Kodiak Sciencessurged after announcing its Phase 3 DAYBREAK study met its primary endpointsBurford Capitalincreased after issuing comments related to the patent matter between Apple and TactionGE Aerospaceslipped after Bloomberg reported the FAA intends to delay certification of Boeing's 737 Max 10 aircraft as it reviews a potential issue with software developed by GE AerospaceGold Fieldsfell in New York after announcing its offer was rejected by Northern Star Resources boardNubankwas lower in New York after Bloomberg reported the company is in talks to acquire Monzo Bank for GBP8B-GBP10B5. EARNINGS/GUIDANCE:Zymeworksprovided guidance for FY26NetSol Technologiesreported Q4 results, with EPS and revenue higher year-over-yearGray Mediaannounced its outlook for Q3Kandi Technologiesreported results for H1, with EPS and revenue higher year-over-yearVestisreaffirmed its guidance for FY26INDEXES:The Dow fell 347.11, or 0.67%, to 51,481.51, the Nasdaq lost 248.34, or 0.92%, to 26,820.38, and the S&P 500 declined 59.72, or 0.77%, to 7,683.69.
GE Aviation Systems Awarded $199.7 Million Contract
GE Aviation Systems has been awarded a $199,700,000 Firm Fixed Price Requirements Indefinite Delivery Contract for three years for the R-391 Propeller Assembly & Component Spares. This contract provides for the procurement and management of the propellers, subsystems, and components to support operational readiness of the F-130J aircraft for both the Air Force and Foreign Military Sales, specifically Australia and Egypt.
Kratos and GE Aerospace Successfully Ignite GEK800 Engine
Kratos Defense & Security Solutions (KTOS) and GE Aerospace (GE) announced a key program milestone with the successful ignition of the GEK800 turbofan cruise missile propulsion system. Recently, the GEK800 Serial Number 1 was tested at the X-58 test facility, igniting successfully. This achievement initiates a new testing campaign and demonstrates a 100 percent success rate for this critical phase of development, keeping the program on schedule. "The combined Kratos, GE Aerospace, and Government test team has demonstrated exceptional focus, discipline, and schedule execution," said Chris Rawlings, Vice President of Kratos' Defense Engine Portfolio. "This team sets the benchmark for operational efficiency and provides a refreshing reminder that our nation can develop turbine engines affordably and at pace."
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