|Bid||321.45 x 900|
|Ask||322.27 x 1000|
|Day's Range||312.51 - 326.20|
|52 Week Range||302.72 - 446.01|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||48.62|
|Earnings Date||Jan 28, 2020|
|Forward Dividend & Yield||8.22 (2.59%)|
|Ex-Dividend Date||Feb 12, 2020|
|1y Target Est||339.85|
The new Boeing (NYSE: BA) 777X jetliner took to the skies today, entering the next phase of its rigorous test program. Based on the popular 777 and with proven technologies from the 787 Dreamliner, the 777X took off in front of thousands at Paine Field in Everett, Washington, at 10:09 a.m. local time for a three hour, 51 minute flight over Washington state before landing at Seattle's Boeing Field.
Japan's Mitsubishi Aircraft Corp has postponed delivery of the SpaceJet regional plane for a sixth time to late 2021 or 2022, according to a Nikkei report, pushing back the target from mid-2020. It represents another setback to Japan's ambitions of reviving its commercial jet industry, which has been dormant for 50 years. In November, the chief executive of the programme's largest shareholder, Mitsubishi Heavy Industries Ltd, told Reuters the company was rethinking the timetable for the SpaceJet and could no longer commit to mid-2020.
Boeing Co.’s fourth-quarter earnings are shaping up to be “an absolute disaster” after the aerospace company pushed back its 737 Max return to service timeline to possibly midyear.
Boeing Co successfully staged the first flight of the world's largest twin-engined jetliner on Saturday in a respite from the crisis over its smallest model, the grounded 737 MAX. The 777X, a larger version of the 777 mini-jumbo, touched down at the historic Boeing Field outside Seattle at 2 pm (2200 GMT) after a debut which began almost four hours earlier at Boeing's revamped wide-body assembly lines north of the city. "It's a proud day for us," said the chief executive of Boeing's commercial airplane unit, Stan Deal.
The Boeing 777X had its first flight Saturday after heavy winds forced a delay Friday, while the aerospace giant is considering a further slowdown to 787 production.
United Technologies will have a busy 2020 with spinoff and merger transactions to complete. The company reports its fourth-quarter earnings on Tuesday.
The former top U.S. military official, General Joseph Dunford, has been elected to the board of Lockheed Martin Corp, the Pentagon's largest weapons supplier, the company said on Friday. Dunford, who served as Chairman of the Joint Chiefs of Staff from 2015 to 2019, will join the board of the F-35 fighter jet maker on Feb. 10. Critics of U.S. military spending have long complained of a revolving door between Pentagon leadership and the defense industry.
(Bloomberg) -- Boeing Co. is considering another cut to production of its marquee 787 Dreamliner as the aerospace giant contends with sluggish demand, people familiar with the matter said.Executives are studying whether to trim monthly output by two planes to 10 a month from a reduced pace that was announced in October, the people said. While no final decision has been made, a new production schedule for the twin-aisle jet could be announced as early as next week when the company reports earnings.Boeing is grappling with slowing sales for wide-body aircraft in a market glutted with used models. The manufacturer has struggled to persuade airlines to accelerate deliveries to fill empty production slots, said one of the people, who asked not to be identified because the discussions are private.Slowing output of the carbon-composite Dreamliner, with a list price that starts at about $250 million, would crimp a critical source of cash for Boeing as it attempts to recover from a global grounding of the 737 Max following two fatal crashes. The 787 accounted for about 40% of Boeing’s jetliner deliveries in 2019 as the company was barred most of the year from shipping the best-selling Max.“We maintain a disciplined rate-management process, taking into account a host of risks and opportunities,” Boeing spokesman Chaz Bickers said when asked about a possible output cut for the Dreamliner. “We will continue to assess the demand environment and make adjustments as appropriate in the future.”Boeing rose 1.7% to $323.05 at the close in New York. On a volatile day for the stock, Boeing fell in midday trading on the potential Dreamliner rate cut before reversing losses when Reuters reported that the Federal Aviation Administration was “pleased” with Boeing’s latest work on fixing the Max. The shares have fallen 9.8% over the last 12 months, the second-worst performance in the Dow Jones Industrial Average.Cutting Dreamliner output to 10 a month from last year’s levels would clip $324 million from cash flow, said Bloomberg Intelligence analyst George Ferguson. That’s “small vs. the $4 billion-plus the 737 will earn” when the Max grounding ends and production normalizes at a monthly rate of 57 jets, he said in a note to clients.In addition, the impact on cash flow of any new cut in Dreamliner production could take years to materialize. In October, Boeing executives cited an extended order drought from China when they said the company would slow production to 12 Dreamliners a month by late this year from its peak rate of 14.China FactorBoeing has gotten more bad news into the open under new Chief Executive Officer Dave Calhoun, who took the reins this month. The Chicago-based company has already delayed expectations for the Max’s return to midyear and is expected to report a multibillion-dollar accounting charge for compensating airlines that didn’t receive planes on order.A nascent thaw in trade tensions between the U.S. and China could weigh against reducing output of the Dreamliner, which can seat as many as 336 passengers. In a trade pact announced last week, China agreed to purchase almost $80 billion in U.S. goods including aircraft through next year.“I would expect a rate reduction sooner rather than later, with one caveat,” John Plueger, CEO of Air Lease Corp., predicted earlier this month. “If Boeing had any suspended 787 deals which get reactivated quickly, then that might modify their rate decision.”He said he had no particular knowledge of Boeing’s plans.(Updates with analyst comment in seventh paragraph.)\--With assistance from Charlotte Ryan and Brandon Kochkodin.To contact the reporters on this story: Julie Johnsson in Chicago at firstname.lastname@example.org;Siddharth Philip in London at email@example.comTo contact the editors responsible for this story: Brendan Case at firstname.lastname@example.org, ;Anthony Palazzo at email@example.com, Tony Robinson, Richard CloughFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Dow Jones sold off on Friday over worries of the China virus outbreak. The market recovered and closed off the lows. Intel rose 8% on earnings.
Wall Street fell in a broad sell-off on Friday, as investors fled equities on growing concerns over the scope of the coronavirus outbreak, capping the S&P 500's worst week in six months. All three major U.S. stock averages turned sharply negative, with the S&P 500 seeing its biggest one-day percentage drop in over three months after the Centers for Disease Control and Prevention confirmed the second case of the virus on U.S. soil, this time in Chicago.
As the Boeing 737 Max crisis continues, analysts expect the aerospace giant's fourth-quarter to be "an absolute disaster" when it reports results early Wednesday.
The stock market rally had a down week on China coronavirus fears. Netflix, Intel and Atlassian soared on earnings. Boeing fell on 737 Max delays and more.
The delay in the planned return of the troubled jet has analysts worried about the aerospace company’s credit quality and with good reason—two credit-ratings firms have Boeing’s bonds on watch for a potential downgrade.
Federal Aviation Administrator Steve Dickson called senior U.S. airline officials on Friday and told them the agency could approve the grounded Boeing 737 MAX's return to service before mid-year - a faster time frame than the planemaker suggested this week, people briefed on the calls said. Dickson's calls came as the FAA issued a statement on Friday voicing progress on the 737 MAX, in a shifting tone that helped push the planemaker's shares higher even as concerns grew that it may cut production of another aircraft, the 787 Dreamliner. "While the FAA continues to follow a thorough, deliberate process, the agency is pleased with Boeing’s progress in recent weeks towards achieving key milestones," the agency said in a statement.
Federal Aviation Administrator Steve Dickson is calling senior U.S. airline officials Friday to tell them that the agency could approve the grounded Boeing 737 MAX's return to service before mid-year, a government official said Friday. FAA approval before mid-year could only happen if Boeing continues to make complete and thorough submissions, the official said, and emphasized that unforeseen issues could always potentially delay approval.
Boeing Co. is considering further production cuts to its 787 Dreamliner jets, according to CNBC on Friday, which cited a statement from the jet maker. Boeing last year said it would cut production of the wide-body jets to 12 from 14 a month for about two years beginning in late 2020. Some in the industry had seen risk that the Dreamliner production rate could be further lowered due to lack of demand. Boeing did not immediately return a request for comment. The jet maker has been mired in controversy over its narrow-body 737 Max planes, grounded since March after two deadly crashes. In the statement to CNBC, the company said that it maintains "a disciplined rate management process taking into account a host of risks and opportunities. We will continue to assess the demand environment and make adjustments as appropriate in the future." Boeing shares fell 1.4% on Friday and have lost 12% in the past 12 months, which contrasts with gains of 18% for the Dow Jones Industrial Average . Boeing is a Dow component.
Issues affected by the coronavirus outbreak, a big earnings beat and technical look were a few of the issues covered on Friday's PreMarket Prep Show. Airlines, cruise and gaming stocks are suffering most of the damage on the downside, while others like hazmat suit maker Lakeland Industries (NASDAQ: LAKE) have benefited.
Wall Street lost ground on Friday as mounting worries over the scope of the coronavirus outbreak overshadowed positive corporate earnings. All three major U.S. stock averages extended their losses after the Centers for Disease Control and Prevention confirmed the second case of the virus on U.S. soil, this time in Chicago. For the holiday-shortened week, all three indexes are on course to post a decline with the Nasdaq set to snap a six-week winning streak.