Shares of industrial and transportation companies rose as an executive shakeup at one major player heartened investors.

Boeing shares rose after reports that Chief Executive Dave Calhoun will exit at the end of the year, part of a broader executive shake-up after a Jan. 5 midair blowout and sweeping production problems that have angered airlines and regulators.

"Looks as if we're finally seeing a Trumanesque move at Boeing," said J.D. Joyce, president of financial advisor Joyce Wealth Management.

Joyce said it would be difficult to find someone with the right "engineering background, business background and the ability to shake things up in a positive manner," outside of aging veterans such as Ford Motor Chief Executive Alan Mulally.

The European Union said German airline Deutsche Lufthansa's acquisition of a minority stake in ITA Airways, the Italian carrier formerly known as Alitalia, could hinder competition for certain routes in and out of Italy.

Fisker said its negotiations for some kind of tie-up with a large automaker have broken down, heightening concerns about the electric-vehicle startup's financial situation.

The Dallas Federal Reserve's index for general business activity deteriorated in March to minus 14.4 from minus 11.3 in February, according to the Texas Manufacturing Outlook Survey.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

03-25-24 1711ET