Boeing Slips as Kodiak Sciences Jumps in Premarket Trading
A reported 737 MAX software glitch weighed on Boeing, while Kodiak shares surged after the biotech released Phase 3 study results.
Boeing shares fell 1.9% in premarket trading Monday after a reported 737 MAX software glitch. Kodiak Sciences surged 31.9% after releasing topline results from its pivotal DAYBREAK Phase 3 study.
The Wall Street Journal reported Boeing identified a glitch that can disable an automated navigation function during a landing after a missed approach. The issue followed a cockpit software update and may arise when pilots change their planned flight path. In some circumstances, pilots may need to fly manually without some autopilot functions at low altitude, according to the report.
The reported issue has prompted concern among industry officials and a review by U.S. regulators. Kodiak’s study is evaluating two investigational therapies, Zenkuda and KSI-501, in patients with wet age-related macular degeneration.
By 5:45 a.m. ET, Nasdaq 100 futures were down 1%, S&P 500 futures had lost 0.5%, and Dow futures slipped 0.4%. Investing.com cited rising crude prices and a halt in frontier AI development as factors weighing on risk appetite ahead of a pivotal week for economic data.
This article was produced with the help of AI technology.
Source: Yahoo Finance
