|Bid||344.60 x 1000|
|Ask||345.10 x 1400|
|Day's Range||344.00 - 369.35|
|52 Week Range||292.47 - 446.01|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||39.44|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||8.22 (2.21%)|
|1y Target Est||411.86|
Yahoo Finance's The Final Round discuss the drivers in the day's market action.
According to a Reuters report, the FAA is concerned it was misled by Boeing about 737 Max safety. Yahoo Finance's Julie Hyman and Adam Shapiro report.
Yahoo Finance's Jessica Smith looks at the new U.S. tariffs on E.U. goods and impact it has globally. She talks with Julie Hyman, Adam Shapiro, Dan Howley and Bryn Mawr Trust's Jeff Mills.
Jaw-dropping allegations involving Boeing and the grounded 737 MAX airplane involved in two deadly crashes. According to documents seen by Reuters… Instant messages between the MAX's then-chief technical pilot and another Boeing pilot in 2016 show that the head technical pilot - referring to a key safety system on the 737 MAX - said that "I basically lied to the regulators unknowingly." The messages were given to the Federal Aviation Administration by Boeing, subsequently sparking outrage by the head of the FAA, who demanded an "immediate" explanation as to why the information was only recently handed over. This revelation deepens the crisis for the world's largest planemaker. Its best-selling jet, the 737 MAX, was grounded indefinitely, following a crash of a Lion Air flight in Indonesia last year and an Ethiopian Airlines flight in March. The combined death toll: 346. Boeing's so-called MCAS anti-stall software has been tied to both fatal crashes. The messages appear to be the first publicly known observations that MCAS behaved erratically during testing before the aircraft entered service. Boeing's CEO Dennis Muilenberg is scheduled to testify before Congress for the first time later this month and provide investors with an update next week. Shares of Boeing tumbled as much as 7 percent on worries this crisis is far from over.
Such calibration problems may have contributed in some way to then-chief technical pilot Mark Forkner's observations and conclusions about MCAS' behavior, the former pilot, and a second former Boeing engineering employee, Rick Ludtke, said. The messages, first reported by Reuters, appear to be the first publicly known observations that MCAS behaved erratically during testing before the aircraft entered service.
The week contained enough good news to drive just about any market higher, but instead ended with the Dow Jones Industrial Average lower for the fourth time in five weeks.
(Bloomberg Opinion) -- The question about Qantas Airways Ltd.’s plans to start 20-hour direct flights from Sydney to London and New York isn’t why any passenger would want to take the route — it’s why any carrier would want to offer them.For all the hardship of spending a day cooped up with the body odors of a couple of hundred other humans, long-haul flying isn’t a particularly attractive business for airlines, either.Qantas’s international unit made just 10.7 Australian cents of revenue per seat, per kilometer flown in its last fiscal year through June, of which 10.3 Australian cents was eaten up on operating costs. If you fly the roughly 17,000 kilometers (10,500 miles) between London and Sydney and buy a decent bottle of liquor at duty free, the A$70 ($48) you’ll spend will quite possibly be more money than the operating profit Qantas made on your ticket for the entire flight. Qantas’s Jetstar budget carrier makes about twice the profit per kilometer that the international business brings in, and its mainline domestic unit is five times more profitable.So what gives? Establishing ultra-long-haul routes is no easy task. Qantas is modifying in-flight menus and lighting patterns and using its staff as guinea pigs in a test flight this weekend to examine how passengers will cope with such a long journey.Costs don’t explain it. Indeed, they’re likely to be somewhat worse on direct ultra-long-haul flights than on more conventional routes. On a fully-laden twin-aisle passenger jet, fuel will often weigh more than all the passengers and cargo. Breaking the journey and refueling en route at a hub airport is a good way of keeping costs down, because it means that you don’t have to carry fuel for the second “leg” of the flight.Revenue, however, is a different matter. Qantas’s domestic business is so profitable because it has a single struggling rival, Virgin Australia Holdings Ltd. Despite flying more passengers in the 12 months through June than it did six years earlier, Australia’s domestic aviation network operated fewer flights. That’s possible because the muted competition between Qantas and Virgin gives them the discipline to keep a lid on capacity growth, allowing more people to be squeezed onto each plane and keeping prices high.International routes aren’t normally like that. At least a dozen different airlines typically compete to ferry passengers between Australia and Europe, and those with hub airports mid-route can easily serve multiple destinations in a way that would be crippling to an end-of-line carrier like Qantas. The partnership between Qantas and Emirates, which started in 2013, was intended to get around this problem by funneling the Australian carrier’s passengers onto the huge network operated by its Gulf partner. While that’s helped return the international unit to profit, margins are vanishingly thin.Ultra-long-haul flights are best understood as a way for the likes of Qantas to reverse the disadvantage that this tyranny of distance engenders. It will never have the network and operations to compete with the geographic advantages of hub carriers in moving passengers between Australia, Europe and North America. However, if it can tempt the more profitable premium passengers away from hub airports with a more direct route, it at least has some ammunition on its side next time it enters negotiations with Emirates about how to share revenues from their flights. You can see this even just looking at its aircraft seat maps. About 18% of the seats on Qantas’s Boeing Co. 787-9 that it uses to fly from Perth to London and on routes between Australia and the U.S. are in business class, with another 12% in premium economy. That’s a larger share of high-margin seats than on the planes that had previously been the workhorses of its international network.It’s probably right to be skeptical that spending 20 hours in economy class can be as glamorous as Qantas’s elaborate pre-testing makes it sound. The only way airlines can make decent money flying to the far side of the world is by letting business class subsidize the rest of the cabin. If you’re flying coach, these flights aren’t really aimed at you.To contact the author of this story: David Fickling at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
News that Boeing, the commercial aerospace giant, delayed providing internal communications about the 737 MAX jet to the Federal Aviation Administration sent the stock for a loop on Friday.
Boeing delayed disclosing internal communications about the 737 MAX jet to the Federal Aviation Administration. The news triggered a plunge in the stock.
Boeing is set to release earnings on Wednesday, and CEO Dennis Muilenburg is preparing to testify before Congress. Not a good time for a massive scandal.
Boeing is set to report its third-quarter earnings next week — and analysts expect an addition to the $5.6 billion in losses the company has already booked because of 737 Max crashes.
Investing.com – Stocks finished the week on a down note on slumps in Boeing and Johnson & Johnson, plus new worries about Chinese economic growth.
The Dow Jones Industrial Average Index lost close to 260 points or 0.95% today. Boeing stock (BA) fell 6.73%, the biggest loss in the Dow today.
Boeing Co's (NASDAQ: BA) stock plummeted Friday after a report that the company this week gave federal investigators text messages from 2016 suggesting it may have misled officials probing the grounded 737 MAX airplane. Federal Aviation Administrator Steve Dickson sent a letter to Boeing saying he expects an immediate explanation from the company over why Boeing appears to have sat on "concerning" information that it discovered in its files months ago. Reuters reported on Friday that the information involves text messages between two Boeing employees in 2016 that raise questions about the degree to which the aircraft maker may have known about possible issues with the MCAS anti-stall system, a critical part of the FAA investigation into two crashes of Boeing aircraft, one in Indonesia and one in Ethiopia.
Boeing Co and Johnson & Johnson shares led both the S&P 500's and the Dow's declines. Today's market weakness "has to do with (GDP) news out of China, Boeing and Johnson & Johnson," Cardillo added, saying "market sentiment in terms of earnings is positive."
Boeing shares tumbled Friday as instant message reportedly surfaced that showed the aerospace giant may have lied to regulators on the 737 Max.
Trade deal worries and earnings uncertainty will probably keep stocks under pressure. Here's Jim Cramer's game plan for next week.