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Elmo has a friend, indeed.

Minority Leader Hakeem Jeffries,D-N.Y., brought along a stuffed friend to help make a point on the House floor Thursday.

Jeffries held up a stuffed Elmo doll while accusing Republicans of targeting beloved children’s shows like ‘Sesame Street’ in their push to slash federal spending.

‘Today, we are on the floor of the House of Representatives debating legislation that targets Elmo. And Big Bird. And Daniel Tiger and ‘Sesame Street,” Jeffries said, waving the puppet as he railed against the GOP-led rescissions package.

The moment, widely circulated online, came during debate over the Republican-backed Proposed Rescissions of Budgetary Resources from President Trump, which would eliminate over $9 billion in unspent or low-priority federal funds.

Among the targeted programs: $3 million in taxpayer support for an international version of Sesame Street in Iraq.

Democrats objected to what they characterized as cultural and humanitarian vandalism disguised as fiscal responsibility. Rep. Sydney Kamlager-Dove, D-Calif., delivered one of the sharpest lines of the day: ‘While you all have killed off Elmo, I urge my colleagues to vote no on this trash and I yield back,’ Garcia said.

Republicans dismissed the theatrics and defended the package as a commonsense rollback of bloated, ideological spending. The bill also includes broader cuts to the Corporation for Public Broadcasting, which supports PBS and NPR, long-time targets of fiscal conservatives who argue the taxpayer shouldn’t subsidize public media.

Rep. Lisa McClain, R-Mich., rebutted, ‘I never realized Elmo was more important to my colleagues on the other side of the aisle than the American people.’

House Majority Leader Steve Scalise, R-La., pushed back forcefully: ‘The Minority Leader held up a Sesame Street character here on the floor as if Sesame Street’s somehow going to go away,’ Scalise said. 

‘I was watching a commercial on TV yesterday where the Cookie Monster was actually doing an advertisement for Netflix because a private company is paying money to run Sesame Street. It’s not going away. It’s doing just fine. Very lucrative.’

Scalise argued the bill doesn’t threaten Sesame Street’s survival, only its taxpayer subsidy, and called out what he described as ‘far-left, radical views’ being promoted through outlets like NPR and PBS.

‘There is still going to be a plethora of options for the American people,’ he said. ‘But if they are paying their hard-earned dollars to get content, why should your tax dollars go to only one thing that the other side wants to promote?’

He concluded bluntly: ‘They can still watch Sesame Street in Iraq. But let the Iraqi people pay for it — not the taxpayers of the United States of America’s children.’

Even more eyebrow‑raising was the inclusion of taxpayer‑funded global health spending for procedures like circumcisions.

Among the line items flagged by GOP lawmakers: $3 million to subsidize circumcisions, vasectomies and condoms in Zambia, alongside similar grants for transgender surgeries in Nepal. Republicans contended that pulling back these types of low-impact or ideological slush funds was a logical first step toward returning more than $9 billion to the U.S. Treasury.

The bill passed the House Appropriations Committee earlier this week and Senate Democrats have signaled strong opposition.

The bill passed the House in a 214–212 vote. Four Republicans, Reps. Mark Amodei, R-Nev.; Mike Turner, R-Ohio; Brian Fitzpatrick, R-Pa.; and Nicole Malliotakis, R-N.Y., broke ranks to vote against the bill. All Democrats voted no.

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Israeli Prime Minister Benjamin Netanyahu confirmed that one of Iran’s top nuclear facilities had been hit in Thursday night’s strike against the regime.

‘Iran has produced enough highly enriched uranium for nine atom bombs, nine,’ Netanyahu said. ‘In recent months, Iran is taking steps that it has never taken before, steps to weaponize this enriched uranium. And if not stopped, Iran could produce a nuclear weapon in a very short time.’

The Natanz Nuclear Facility – one of Tehran’s key nuclear sites and which has been flagged by security experts that in coordination with the Fordow Fuel Enrichment Plant, could produce enough weapons-grade uranium to produce 11 nuclear weapons within a month – has been hit in the strikes, though the extent of the damage remains unknown. 

‘We struck at the heart of Iran’s nuclear enrichment program. We struck at the heart Iran’s nuclear weaponization program,’ Netanyahu said in live remarks. ‘We targeted Iran’s main enrichment facility in Natanz. 

‘We targeted Iran’s leading nuclear scientists working on the Iranian bomb,’ he added. 

The Nantaz Nuclear Facility was at least partially destroyed in 2020 following an explosion, and satellite imagery has suggested Iran began constructing deep underground tunnels to further secure and obscure their nuclear program, reported the Institute for Science and International Security earlier this year. 

It is unclear at this time if any of the underground structures were hit in the Thursday night strikes. 

‘We will not let the world’s most dangerous regime get the world’s most dangerous weapons, and Iran plans to give those weapons, nuclear weapons, to its terrorist proxies,’ Netanyahu said. ‘That would make the nightmare of nuclear terrorism all too real. 

‘The increasing range of Iran’s ballistic missiles would bring that nuclear nightmare to the cities of Europe, and eventually to America,’ he added. 

Reporting by The New York Times also said the Parchin military complex had been hit in the overnight strikes, though Fox News Digital could not independently confirm the hit.

The extent of the damage also remains unknown as it was reported in November that the Parchin military complex had been significantly damaged in Israel’s October strikes which housed a nuclear weapons research facility. 

Another five military bases surrounding Tehran were also reportedly hit. 

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When it comes to the nation’s federal government, GOP Sen. Ron Johnson of Wisconsin is ‘not a fan.’ 

He believes that it ’causes or exacerbates more problems than it actually solves,’ telling Fox News Digital during an interview on Wednesday that the bulk of his oversight is ‘to expose how awful government is’ in order to obtain ‘public support for reducing it, limiting its size, limiting its cost, limiting its influence over our lives.’

‘As our federal government grows, our freedoms recede,’ he said. ‘You see what the federal government does, how it wastes money.’

The national debt has ballooned to the eye-watering sum of more than $36 trillion, with lawmakers and presidents from both parties presiding over the deficit spending that has led the nation to this point. 

Johnson said he’s ‘trying to force reality’ upon everyone in the nation’s capital, regardless of whether they want to face that reality.

He said for decades the nation has been suffering a ‘chronic debt crisis,’ illustrating the dramatic decline in the value of the U.S. dollar by noting that ‘the dollar you held back in 1998 is now only worth $0.51 cents,’ while ‘a dollar you held in … 2019 is only worth $0.80 cents.’

The senator referred to inflation as ‘the silent tax.’

But he’s certainly not staying silent.

Johnson indicated that the elected leaders are mortgaging the future of American children, but ‘don’t talk about it.’

‘I’m forcing everybody to look at it,’ he said, noting that his ‘primary role’ is to force ‘acknowledgment of our problem.’

But as keenly as Johnson advocates the idea of slashing the sprawling tentacles of the massive federal bureaucracy, right now he’s just pushing to pare spending down to pre-pandemic levels.

The conservative fiscal hawk has been making headlines for taking a stand against the Trump-backed One Big Beautiful Bill Act that cleared the GOP-controlled House of Representatives last month. 

But Johnson told Fox News Digital that he actually likes a lot of the measure.

‘I’m really not critical of the bill as far as it goes,’ Johnson explained, noting that he’s a ‘big supporter’ of much of what’s in it, though he noted that has not read all of it — the measure is more than 1,000 pages long. 

‘My main beef is it just doesn’t go far enough,’ he said, noting that after the COVID-19 pandemic Democrats failed to return to pre-COVID spending and deficit levels.

The Congressional Budget Office’s estimated budgetary impact for the measure indicates that the net effect on the deficit would be a more than $2.4 trillion increase over the fiscal years 2025-2034.

But White House Office of Management and Budget Director Russ Vought has said the measure would decrease deficits.

‘The bill REDUCES deficits by $1.4 trillion over ten years when you adjust for CBO’s one big gimmick–not using a realistic current policy baseline. It includes $1.7 trillion in mandatory savings, the most in history. If you care about deficits and debt, this bill dramatically improves the fiscal picture,’ Vought said in a post on X.

Johnson also noted during the interview that there has not been a ‘reckoning’ regarding the ‘abuse’ at all levels of government during the COVID-19 pandemic.

He noted that he does not refer to the COVID-19 jab as a vaccine. Instead, he referred to it as an ‘injection,’ asserting that it is ‘not a vaccine,’ and that it caused injuries and death.

The senator said that he thinks the shots should have ‘black box warnings.’ 

The Centers for Disease Control and Prevention website states that the ‘CDC recommends a 2024-2025 COVID-19 vaccine for most adults ages 18 and older’ and claims that the ‘vaccine helps protect you from severe illness, hospitalization, and death.’

Johnson, who has served in the Senate since 2011 and won election to a third term in 2022, said he’d prefer not to seek another term in office.

‘I don’t covet this job,’ he said, noting that he wants to leverage his post to help save America and aid those who are ‘ignored by the system.’

While he’s not ruling out another run, Johnson, who turned 70-years-old earlier this year, said he’d ‘be happy’ to return to Oshkosh and ‘live a nice, peaceful life.’

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Sen. John Fetterman, D-Pa., expressed staunch support for Israel’s assault against Iran, calling for the U.S. to back Israel’s efforts by providing the ally with anything it needs.

‘Our commitment to Israel must be absolute and I fully support this attack. Keep wiping out Iranian leadership and the nuclear personnel. We must provide whatever is necessary—military, intelligence, weaponry—to fully back Israel in striking Iran,’ Fetterman asserted Thursday night in a post on X.

The Israeli Ministry of Foreign Affairs reposted the senator’s post. 

It also shared a post in which U.S. House Speaker Mike Johnson expressed support for the U.S. ally. 

‘Israel IS right—and has a right—to defend itself!’ Johnson declared.

Sen. Lindsey Graham suggested that if Iran targets U.S. interests, America should execute ‘an overwhelming response’ that annihilates the foreign country’s oil infrastructure.

‘People are wondering if Iran will attack American military personnel or interests throughout the region because of Israel’s attack on Iran’s leadership and nuclear facilities,’ Graham noted Thursday night in a post on X. 

‘My answer is if they do, America should have an overwhelming response, destroying all of Iran’s oil refineries and oil infrastructure putting the ayatollah and his henchmen out of the oil business.’

Secretary of State Marco Rubio said in a statement on Thursday night that the U.S. was ‘not involved in strikes against Iran’ and declared that ‘Iran should not target U.S. interests or personnel.’

President Donald Trump issued a Truth Social post on Friday morning in which he urged Iran to agree to a deal, apparently referring to a nuclear deal.

‘I gave Iran chance after chance to make a deal. I told them, in the strongest of words, to ‘just do it,’ but no matter how hard they tried, no matter how close they got, they just couldn’t get it done. I told them it would be much worse than anything they know, anticipated, or were told, that the United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come – And they know how to use it. Certain Iranian hardliner’s spoke bravely, but they didn’t know what was about to happen. They are all DEAD now, and it will only get worse!’ Trump warned in his post.

‘There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end. Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire. No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE. God Bless You All!’

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President Donald Trump promised that Israel’s next round of attacks on Iran would be ‘even more brutal’ in a Truth Social post pressuring Iran to cut a deal on its nuclear activity. 

‘There has already been great death and destruction, but there is still time to make this slaughter, with the next already planned attacks being even more brutal, come to an end,’ Trump said. 

‘Iran must make a deal, before there is nothing left, and save what was once known as the Iranian Empire. No more death, no more destruction, JUST DO IT, BEFORE IT IS TOO LATE.’

Trump said he warned Iran that ‘the United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come – And they know how to use it.’

‘Certain Iranian hardliner’s spoke bravely, but they didn’t know what was about to happen. They are all DEAD now, and it will only get worse!’

The U.S. and Iran have another round of nuclear talks scheduled for this weekend in Muscat, Oman, while the two sides remain on opposite ends over whether Iran should have the capacity to enrich uranium at all, even for civil energy purposes. 

It is not clear whether those negotiations will carry on in light of the attack. Trump had urged Prime Minister Benjamin Netanyahu to let talks play out before launching any strikes. 

 ‘I think it would blow it,’ Trump said earlier yesterday of the prospect of a premature Israeli attack. But then, he mused, it ‘might help it actually, but it also could blow it.’ 

After the attack, Secretary of State Marco Rubio put out a statement insisting the U.S. had no part in the strikes and urged Iran not to attack U.S. positions. Earlier, non-essential embassy staff in Iraq had been evacuated in light of the prospect of an attack. 

Tehran fired over 100 drones toward Israel on Friday morning in a counter-move, which Israel intercepted. 

Netanyahu revealed the Israeli Defense Forces (IDF) struck a key nuclear site, Natanz, during the attack on the regime.

Among those killed were top nuclear scientists and top military leaders: General Hossein Salami, the commander-in-chief of Iran’s Revolutionary Guard Corps (IRGC), and Major General Mohammad Bagheri, Iran’s highest-ranking military official and chief of staff of the IRGC, along with most of the IRGC air force high command, who were convened in an underground bunker at the time. 

The first wave of strikes hit over 100 targets with 200 Israeli fighter jets dropping ‘330 different munitions,’ the IDF said, adding the strikes will carry on for days. 

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LAS VEGAS. — Former Starbucks CEO Howard Schultz said Wednesday that he “did a cartwheel” in his living room when current chief executive Brian Niccol first coined his “back to Starbucks” strategy.

The enthusiasm from the 71-year-old Starbucks chairman emeritus is a key stamp of approval for Niccol as he tries to lift the company’s slumping sales and restore the chain’s culture.

Schultz, who grew Starbucks from a small chain into a global coffee giant, made a surprise appearance at the company’s Leadership Experience in Las Vegas and cosigned Niccol’s plans. The three-day event has gathered more than 14,000 North American store leaders to hear from Starbucks management as the company embarks on a turnaround.

Niccol took the reins in September, joining the company after the board ousted Laxman Narasimhan, Schultz’s handpicked successor.

Schultz had returned in 2022 for his third stint as chief executive, but it was only an interim role. He previously told CNBC that he has no plans to come back again. Schultz no longer holds a formal role within the company, although CNBC has previously reported that he’s forever entitled to attend board meetings unless barred by the company’s directors.

During Niccol’s first week on the job, he outlined plans for the comeback in an open letter, making the commitment to get “back to Starbucks.” More details on how the chain planned to return to its roots followed in the ensuing months, from bringing back seating inside cafes to writing personalized messages on cups. Under Niccol’s leadership, the company’s marketing has shifted to focus on its coffee, rather than discounts and promotions.

When Starbucks announced Narasimhan’s firing and Niccol’s hiring, Schultz issued a statement of support, saying that the then-Chipotle CEO was the leader that the company needs. However, the Leadership Experience marks the first time that Niccol and Schultz have appeared publicly together.

During Narasimhan’s short tenure as CEO, Schultz did not mince words when the company’s performance fell short of his expectations. After a dismal quarterly earnings report, he weighed in publicly on LinkedIn, saying the company needs to improve its mobile order and pay experience and overhaul how it creates new drinks to focus on premium items that set it apart.

But Schultz said Starbucks’ problems went further than just operational issues and lackluster beverages and food.

“The culture was not understood. The culture wasn’t valued. The culture wasn’t being upheld,” he said on Wednesday.

This post appeared first on NBC NEWS

Palantir stock price has surged to a record high as investors move back to artificial intelligence companies. PLTR jumped to a high of $139.77 on Wednesday, up by 110% from its lowest point in April. This surge has brought its market capitalization to over $321 billion, making it one of the biggest companies in the US.

Why Palantir stock price has surged

Palantir share price has jumped because of its growing business and market share in the artificial intelligence industry. 

Its annual results show that its business has been in a strong bull run in the past few months.

Data shows that its annual revenue has jumped from $1.09 billion in 2020 to $2.8 billion last year. 

It has also moved from being a loss-making company into a highly profitable one, making over $579 million in trailing twelve-month (TTM) profit.

The most recent results showed that Palantir Technologies’ business is firing on all cylinders, helped by its commercial and government business. Its US revenue rose by 55% in the last quarter and by 13% from the fourth quarter. 

The numbers showed that US commercial revenue rose by 71% to $255 million, while the government revenue rose by 45% to $373 million. This means that the commercial division is closing the gap with the government one. 

Including its international business, the company’s revenue jumped by 39% to over $884 million. This happened as the company closed 139 deals during the quarter, with most companies being interested in its artificial intelligence solutions. The CEO said:

“We are delivering the operating system for the modern enterprise in the era of AI. Consequently, we are raising our full-year guidance for total revenue growth to 36% and our guidance for U.S. commercial revenue growth to 68%.”

Rule of 40 shows PLTR stock is cheap

Analysts are optimistic that the company will continue growing. The average estimate is that its revenue will rise by 38% to $939 million. This will be followed by a 35% quarterly growth to $980 million.

Palantir is expected to make $3.9 billion in revenue this year, up from 35.9% from a year earlier. It will then make $5 billion next year, a 28% annualized growth. There are chances that the company’s business will beat analysts estimates this year.

A key issue about Palantir is that it is one of the most expensive companies in Wall Street. It has a forward price-to-earnings ratio of 228, much higher than the sector median of 22.80. Its forward EV to EBITDA ratio of 176 is higher than the sector median of 19.

While PE and EV to EBITDA multiples are important, analysts use the rule of 40 metric to value software companies. This approach looks at a company’s growth and its margins to estimate its valuation. Ideally, when the revenue growth and margin are added, the figure should be over 40.

In Palantir’s case, the company has a forward revenue growth figure of 31% and its net income and free cash flow margins of 18% and 29%, respectively. In this case, the rule of 40 is between 49% and 60%, meaning that it is not all that overvalued. 

Read more: US picks Palantir as data analysis partner, but why you shouldn’t jump into PLTR

Palantir share price technical analysis

PLTR stock chart | Source: TradingView

The daily chart shows that the PLTR stock price has made a bullish breakout, moving above the key resistance level at $125.20. This was a notable level since it was the upper side of the cup and handle pattern.

The C&H pattern has a depth of 47%. Measuring the same distance from the cup’s upper side gives it a target of $184, which is about 35% above the current level. A drop below the support at $120 will invalidate the bullish outlook.

The post Here’s why Palantir stock price is cheap and could surge 35% appeared first on Invezz

More than $151 million worth of XRP was withdrawn from Binance on 11 June, according to on-chain data compiled by CryptoQuant, marking one of the most significant single-day outflows in recent memory.

The activity stood in sharp contrast to the relatively modest $23 million withdrawn the previous day.

This more than sixfold increase suggests a deliberate shift in positioning among large XRP holders, potentially signalling broader sentiment or institutional moves ahead of expected market developments.

On-chain data points to silent accumulation

While the price of XRP held steady around $2.31 during the withdrawal surge, the volume and nature of the activity indicate a possible accumulation phase.

Typically, such withdrawals mean tokens are being moved to private wallets, suggesting that holders are not planning to sell in the near term.

This pattern is commonly associated with high-conviction investors or so-called “whales”, who may be positioning themselves in anticipation of a future price move without disturbing the current market equilibrium.

Market participants often look to such trends for early indicators of institutional involvement or shifts in sentiment.

When large sums leave exchanges, it removes immediate selling pressure, which can tighten supply and set the stage for price action.

Although withdrawals are not a guarantee of a bullish rally, they do highlight changing investor behaviour, especially when combined with other developments across the XRP ecosystem.

XRP-linked partnerships and treasury investments grow

The timing of the outflows coincided with a significant development from VivoPower, a publicly traded firm.

On 11 June, the company announced a new partnership with the Flare blockchain to generate yield from its XRP reserves.

This follows a separate investment in May, when VivoPower allocated $121 million to XRP, creating the world’s first XRP-focused treasury reserve.

Such moves illustrate how corporate treasury strategies are beginning to incorporate blockchain yield opportunities.

Rather than liquidating assets, companies like VivoPower are now exploring mechanisms to generate returns through integrations with protocols such as Flare.

The Flare partnership suggests that XRP is being considered as a long-term asset, further validating the observed withdrawal patterns from Binance.

Ethereum compatibility coming to XRP Ledger

In a separate but potentially related development, Ripple is progressing towards Ethereum compatibility by rolling out an Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger.

The announcement was made at the Apex 2025 conference in Singapore by Ripple CTO David Schwartz. Blockchain firm Peersyst is leading the technical implementation of the sidechain, which is currently live on testnet.

A mainnet launch is expected by the end of Q2 2025 following validator onboarding.

The EVM sidechain is being built using evmOS, a software stack designed to enable high-speed, low-cost transactions from the XRP Ledger while supporting Ethereum-based smart contracts.

This integration would enable XRP to tap into Ethereum’s vast decentralised finance (DeFi) ecosystem, offering developers greater flexibility and expanding the ledger’s utility.

Unlike Ethereum-native chains, the XRP Ledger does not natively support the EVM environment, so this sidechain marks a strategic step toward bridging the two ecosystems.

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IBM stock price has surged to a record high, capping a turnaround that started in 2020 when it crashed to a low of $68.45. It has jumped by 315%, giving it a market capitalization of over $250 billion, making it one of the biggest technology companies.

IBM turnaround continues

IBM, commonly known as the Big Blue, has gone through a remarkable turnaround in the past few years. This turnaround started in 2020 after the company had a rough patch under Ginni Rometty.

Krishna has implemented several strategies to turn around the company. Its most important approach was to spin off its infrastructure business into Kyndryl, a company whose market cap has jumped to almost $10 billion.

Spinning out the infrastructure removed billions in stagnant revenue and let it to focus in faster-growing areas like cloud and artificial intelligence. It also let the company shed over 73,000 employees.

Krishna has also implemented several acquisitions to boost its business in emerging markets. It acquired HashiCorp last year in a $6.4 billion deal, a move that introduced a high-growth and high-margin business. 

Further, IBM has focused on accelerating its hybrid computing model, which allows companies to store data on the cloud and on-premises. 

This approach has started to pay off as its annual revenue has risen gradually from $54 billion in 2020 to $62.8 billion in the trailing twelve months (TTM). 

Growth is continuing

The most recent results showed that IBM’s business has grown gradually, with its artificial intelligence business starting to pay off. Its revenue rose by 1% to $14.5 billion. 

This growth happened as the software revenue rose by 7%, while its consulting and infrastructure revenue fell by 2% and 6%. Krishna said:

“There continues to be strong demand for generative A, and our book of business stands at more than $6 billion inception-to-date, up more than $1 billion in the quarter.”

Analysts anticipate that IBM’s growth will continue this year. The average revenue estimate for the current quarter is $16.5 billion, a 5.15% increase from the same period last year. 

IBM will then make $16 billion in the third quarter, $66 billion this year, and $69 billion in the next financial year. These numbers will represent about 5% annualized growth rate. 

IBM’s earnings per share is expected to grow to $2.65, up from $2.43, while its annual EPS will be $10.9 and $11.64, respectively.

The company hopes to continue growing by focusing on its core business and its quantum computing. It is working on a new quantum computer that will be fault-tolerant by 2029. Analysts believe that the quantum computing industry will grow from $1.3 billion in 2024 to $5.3 billion by 2019. 

These numbers may help to justify its valuation multiples. The company has a forward price-to-earnings ratio of 25, a few points higher than the sector’s median of 22.

IBM stock price forecast

IBM share price chart | Source: TradingView 

The daily chart shows that the IBM share price has been in a strong bull run in the past few months. Most recently, it has risen in the past nine consecutive days, pushing it to the highest level on record. 

IBM has moved above the key resistance level at $269.4, the highest point on May 19. It invalidated the forming double-top pattern by moving above that level.

IBM has remained above all moving averages, while the Average Directional Index has jumped to 20, a sign that the trend is continuing. 

Therefore, the most likely scenario is where the stock moves to $270 and then resumes the uptrend. Such a move would then push it to $300.

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The tragic Air India plane crash near the Indian city of Ahmedabad on Thursday has thrown Boeing back into the spotlight, with more than 100 people feared dead and investors reacting sharply.

Boeing share price was down by 6% in pre-market trading on Thursday, while GE Aerospace, which likely powered the aircraft saw it share price down by more than 2.6%.

Shares of fuselage maker Spirit AeroSystems, currently in the process of being acquired by Boeing, fell 2.7%.

The aircraft, a Boeing 787-8 Dreamliner, was en route from Ahmedabad to London Gatwick when it crashed shortly after take-off, carrying 242 passengers and crew.

Reuters said that according to local police sources, 100 bodies had been brought to a hospital in Ahmedabad, with dozens more reportedly injured.

The aircraft struck a residential area near the BJ Medical College, including a hostel for intern doctors, causing additional casualties on the ground.

The exact number of fatalities remains unverified by authorities at the time of writing.

According to data from Flightradar24, the aircraft bore the registration VT-ANB and had been in service for nearly 12 years.

GE Aerospace, in a statement posted on X (formerly Twitter), said it was assembling an emergency response team to assist Indian authorities with the investigation.

Boeing, too, issued a brief statement: “We are aware of initial reports and are working to gather more information.” Air India said it was fully cooperating with authorities.

First fatal crash for Boeing 787 Dreamliner

This is the first fatal crash involving the Boeing 787 Dreamliner, a twin-aisle widebody jet that entered service in 2011.

It is one one of the company’s best-selling widebody jets, and has been delivered to nearly 1,200 customers since its debut.

Despite its commercial success, the Dreamliner has faced several production hurdles.

Early on, it grappled with supply-chain disruptions and a series of battery fires that led global aviation regulators to temporarily ground the fleet in 2013.

More recently, Boeing was forced to halt deliveries of the aircraft for nearly two years due to quality-control concerns.

However, broadly, the aircraft has had a solid safety record over the years.

Thursday’s crash not only shatters that record but could also hinder Boeing’s efforts to rebuild trust after years of setbacks tied to its troubled 737 MAX program.

Boeing Chief Executive Kelly Ortberg, who took over in August, has told employees that the company is on a fragile path to recovery and can’t afford another mistake.

“This is a knee-jerk reaction, but it revives fears about the long-running issues Boeing has faced with both production and aircraft safety,” said Chris Beauchamp, an analyst at IG Group, in a Reuters report.

Fallout ahead of Paris Air Show

The timing of the crash is particularly damaging for Boeing.

The company had been preparing for the Paris Air Show, an event typically marked by large commercial jet orders.

CEO Kelly Ortberg was scheduled to attend, but there has been no official update on whether his plans will change.

Industry experts worry the incident may cloud investor and customer sentiment at the show, especially as Boeing continues to recover from a series of past safety and manufacturing issues.

Although the cause of the crash remains unknown, early assessments suggest a manufacturing flaw is unlikely given the aircraft’s age and the Dreamliner’s reputation.

Nonetheless, investigators will now closely examine both the aircraft and its maintenance history, alongside other potential contributing factors.

A painful reminder of past Boeing tragedies

The crash evokes memories of Boeing’s most painful period: the grounding of the 737 MAX in 2019 following two catastrophic crashes — Lion Air Flight 610 in 2018 and Ethiopian Airlines Flight 302 in 2019 — that claimed 346 lives collectively.

Those accidents were ultimately traced to faulty flight control software, prompting years of regulatory scrutiny and damaged public trust.

In early 2024, a 737 MAX flight operated by Alaska Airlines suffered a mid-air panel blowout, further delaying Boeing’s path to full reputational recovery, even though no lives were lost.

The Air India crash could be the deadliest airline disaster since Malaysia Airlines Flight MH17, which was shot down over Ukraine in 2014, killing 298.

It is also the worst for Air India since the bombing of Flight 182 in 1985, which killed all 329 onboard.

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