BA - The Boeing Company
| Previous Close | 336.28 |
| Open | 334.05 |
| Bid | 330.15 x 1000 |
| Ask | 330.35 x 900 |
| Day's Range | 330.23 - 334.66 |
| 52 Week Range | 302.72 - 446.01 |
| Volume | 3,620,751 |
| Avg. Volume | 6,485,431 |
| Market Cap | 186.054B |
| Beta (5Y Monthly) | 1.31 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -1.12 |
| Earnings Date | Apr 21, 2020 - Apr 26, 2020 |
| Forward Dividend & Yield | 8.22 (2.44%) |
| Ex-Dividend Date | Feb 12, 2020 |
| 1y Target Est | 344.00 |
- Reuters
Boeing finds debris in fuel tanks of many undelivered 737 MAX jets
Boeing found debris in the fuel tanks of about 35 aircraft, a company spokesman confirmed on Friday. A person familiar with the matter told Reuters that more than 50% of the undelivered 737 MAX jets inspected thus far have had debris found in them.
- MarketWatch
Wall Street has slashed these S&P 500 companies’ estimates by as much as 70%
There are always “bad” stories, even in a bull market, but analysts still love half of the companies with the greatest cuts in sales estimates.
- Bloomberg
Warren Buffett Flashes ‘Urgent’
(Bloomberg Opinion) -- Warren Buffett says he’s in the “urgent zone.” It’s the folksy billionaire’s way of calling himself old. But even as Buffett approaches 90, the spotlight-loving chairman and CEO of Berkshire Hathaway Inc. isn’t ready just yet to talk about who will run his giant company when he’s gone. He still has more to say, and more to do — and that could make for an interesting year ahead.Buffett’s annual letter of intrigue arrived Saturday morning, a roundup of thoughts that the Oracle of Omaha has been publishing for six decades. It’s evolved over time into what reads like a love letter to shareholders, to insurance float — the lucrative gift that keeps on giving at Berkshire — and to America as a whole, while taking the occasional jab at Wall Street’s fee-giddy bankers and anyone who thinks Ebitda is an honest profit gauge. Lately, he’s also lamented the lack of cheap takeover targets. The company’s last splashy acquisition was in 2015, when it struck a $37 billion deal for airplane-parts supplier Precision Castparts. Berkshire had $128 billion of cash as of December, about the same level as the previous quarter and many billions more than Buffett would like to see sitting in a bank. The letter, one of two major yearly events for Berkshire investors and Buffett groupies (the other is the shareholder meeting each May) has become more condensed in recent years. But more important to readers is what’s written between the lines — hints of a major deal and signs that the world’s most celebrated businessman is about to step aside. I suspect the former will come before the latter, though not even Buffett can truly know.As mentioned, Buffett will turn 90 this summer, and his right-hand man Charlie Munger is 96. His letter contained an anecdote about a friend from his past who, at the relatively ripe age of 80-something, kept receiving requests from a local newspaper for biographical data so that it could prep the man’s obituary. The request was marked “URGENT.” “Charlie and I long ago entered the urgent zone,” Buffett wrote, assuring shareholders that their company is “100% prepared” for the sad day of their departure and even sharing some details about his will. In my decade covering Berkshire, it’s the most I can remember Buffett discussing what will happen when he’s gone.Over 12 to 15 years after his death, Buffett’s class A shares will be converted into B shares and distributed to various charities; the executors and trustees are otherwise instructed not to sell any Berkshire stock, no matter what. That’s putting a lot of faith in the next CEO, whoever it is. Buffett’s still keeping hush about his succession plans. But in a first this year, he said that shareholders can direct questions directly to his lieutenants, Greg Abel and Ajit Jain, at the May investor meeting. It’s something I suggested Berkshire should start doing at last year’s meeting, and indeed Buffett did hand Abel the mic in a rather symbolic, if impromptu, moment during the Q&A session. Not long ago, Abel’s title was expanded from head of Berkshire Hathaway Energy to vice chairman of all the company’s various operations — except for insurance, which is overseen by Jain. Notably, this year’s letter signaled a desire to invest more of the energy division’s retained earnings to take on large utility projects. He said Berkshire’s operations in the Omaha-based company’s neighboring state of Iowa will be wind self-sufficient by next year thanks to investments in wind turbines, which have helped to keep rates lower than the competition as profits soar. Berkshire Hathaway Energy and BNSF — the railroad Berkshire bought in 2009 — together earned $8.3 billion last year, making them two of the biggest contributors to profit. Abel’s rising profile, along with the emphasis on energy, leads me to wonder whether he’s not only being groomed to take over for Buffett, but also whether Abel could soon make his own M&A splash. Separately, Todd Combs, who manages some of Berkshire's stock-market portfolio, was recently tapped to be CEO of its Geico insurance business. Despite his dual-function sparking succession curiosity, he didn't get a shout-out in the letter.Buffett’s letter always includes a rant on the topics du jour, and this year’s was corporate governance. He penned a section on the “vexing problem” of subservient corporate boards made up of overpaid aging directors, especially those who don’t tap into their own savings to buy shares in the companies they serve. Of course, Berkshire is guilty of some of that. The average age of its board is 74 (including three nonagenarians). Buffett’s celebrity and track record has also allowed him to skirt many of the corporate governance customs expected of other CEOs, such as quarterly earnings calls, more detailed filings and returning cash to shareholders. His successor may not be given so much leeway, especially not with $128 billion sitting around. Reading that finger-wagging section, it was hard not to think of Boeing Co. and General Electric Co. — one company that was once seen as Buffett-investment quality, and another that in many ways tried to be like Berkshire. The downfall of each has been a devastating display of what can happen when leadership isn’t held to account, and I imagine that’s the sort of thing Buffett had in mind when he was writing. Then again, his investment in Kraft Heinz Co. is almost the pot calling the kettle black. Kraft Heinz juiced Ebitda by irresponsibly under-investing in its business — which goes completely against the Buffett way — and all the while it happened under Buffett’s nose. Berkshire is the largest shareholder, and while the Kraft Heinz holding is carried at $13.8 billion on its balance sheet, it had a market value of only $10.5 billion as of Dec. 31 (and is worth even less than that now).Buffett only reveals what he wants to, and it’s clear that succession is on his mind, as is his unending hunger for deals. Is it urgent enough for him to strike soon? To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Reuters
Ethiopia plans to release interim jet crash report as probe continues
Ethiopia plans to release an interim report into a deadly Boeing 737 MAX crash, which killed 157 passengers and crew, ahead of the first anniversary of the accident next month, according to an official speaking on Saturday. Boeing's popular 737 MAX has been grounded globally since the March 10 crash, which killed everyone on board, and came just five months after a Lion Air crash in Indonesia which killed 189 in a plane of the same model. Ethiopian Airlines flight 302 crashed in an open field six minutes after take-off from Addis Ababa, the Ethiopian capital.
- Reuters
US Treasury's Mnuchin: Tax certainty needed on global basis
U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a global basis and that the OECD was very close to consensus on a framework for minimum corporate tax. "You cannot have in a global economy different national tax systems that conflict with each other," Mnuchin told an economic conference in Saudi Arabia, which is hosting finance leaders of the world's 20 largest economies. "The good news is we're very close to a consensus on pillar 2," he said, referring to OECD tax reform talks on an international framework for minimum corporate tax.
- American City Business Journals
Seattle nonprofit wins $1M federal grant to boost apprenticeships
The money unveiled by U.S. Secretary of Labor Eugene Scalia comes after President Trump signed an executive order to expand apprenticeships to fight skilled labor shortages.
- GuruFocus.com
US Indexes Lower Friday and for the Week
Nasdaq up 5.3% for the year Continue reading...
- Reuters
Federal prosecutors probing if Boeing pilot knowingly lied to FAA - NYT
Boeing said it was cooperating with the U.S Department of Justice investigation. The prosecutors have questioned several Boeing employees in recent months, focusing on whether Mark Forkner, a top pilot at the company, intentionally lied to the regulator about the nature of new flight control software on the jet, according to the report. A lawyer for Forkner did not immediately respond to a Reuters request for comment.
- Reuters
Federal prosecutors probing if Boeing pilot knowingly lied to FAA: NYT
Boeing said it was cooperating with the U.S Department of Justice investigation. The prosecutors have questioned several Boeing employees in recent months, focusing on whether Mark Forkner, a top pilot at the company, intentionally lied to the regulator about the nature of new flight control software on the jet, according to the report. A lawyer for Forkner did not immediately respond to a Reuters request for comment.
- American City Business Journals
Air Force says Boeing has ‘different level of intensity’ on KC-46 fixes
Gen. David Goldfein tells Defense News that Boeing is closing in on an important needed fix to the tanker under new CEO David Calhoun.
- American City Business Journals
Wichita safe in global Airbus job cuts
Airbus said this week it will look to cut nearly 2,400 jobs due to sluggishness in the space and defense market.
- American City Business Journals
Firm takes aim at $21M weapons deal with local work
A defense giant has scored a big local contract, and it’s hiring for more than 100 positions in Central Florida. Arlington, Virginia-based Leonardo DRS won a $21 million U.S. Army contract, the Department of Defense announced Feb. 19. The contract was awarded to the company’s Melbourne-based division, DRS Network & Imaging Systems LLC. The company will provide chargers, computers and displays for the Digital Fire Control System, used by the Army as an internal positioning unit for its Howitzer artillery weapon.
- Benzinga
Atlas Air Offers Optimistic Outlook Despite 4Q Operating Loss
Air cargo service provider Atlas Air Worldwide (NASDAQ: AAWW) said Thursday it took a $616 million fourth-quarter charge on its fleet of Boeing 747-400 freighters, which inflated earnings by lowering rent and depreciation expense and is expected to help boost future profits. The Purchase, New York, company also said it has idled four less-efficient 747-400 converted freighters since the beginning of 2020, plans to return an additional -400 freighter to its lessor in the first half of the year, sold a Boeing 757 freighter, and expects to sell a Boeing 777 freighter and a Boeing 737 passenger jet. The fleet changes signal that Atlas is attempting to focus on its most profitable customers, according to analysts.
- Bloomberg
French Economy Leans on Services as Manufacturing Shrinks
(Bloomberg) -- France’s services sector drove economic growth this month, as factories grappled with issues including the coronavirus outbreak and the discontinuation of Boeing’s 737 Max airplane.While the Purchasing Managers Index from IHS Markit showed manufacturing back in contraction, services drove an unexpected pickup in overall momentum. The news gave the euro a modest lift, and it was up 0.1% to $1.08 as of 9:18 a.m. Paris time.The data highlight the euro zone’s split economy. European Central Bank Vice President Luis de Guindos said on Thursday that the strong labor market is bolstering domestic consumption and fending off global weakness. The worry is how long that can last.France’s composite PMI climbed to 51.9, beating economists forecasts. A gauge for manufacturing slipped below 50, signaling a contraction for the first time since the middle of last year.Industrial orders were hit particularly hard by a drop in international demand. A pause in Boeing’s production of its single-aisle jet following two fatal crashes has come as a shock to French suppliers.In addition, the coronavirus outbreak in China has forced many businesses to shutter their operations in the country.The impact of the virus is hitting hardest in Asia. Reports Friday showed manufacturing in Australia and Japan fell while early export orders for South Korea showed a slump in Chinese demand. In China itself, car sales sank 92% in the first half of February.The French PMI report showed companies are still optimistic over the next 12 months, supported by plans for new product launches expectations for a demand pickup.Markit will publish PMIs for Germany and the euro area later this morning, with both forecast to show a slight deterioration in February.(Updates with euro, Asian surveys starting in second paragraph)To contact the reporter on this story: Carolynn Look in Frankfurt at clook4@bloomberg.netTo contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.netFor 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.
- Financial Times
The shot for the sky that brought Bombardier low
“The business of making and selling aeroplanes is not for the fainthearted . . . In deciding to build a new airliner, a manufacturer is literally betting the company.” The opening lines of The Sporty Game ...
- Barrons.com
This Week’s Manufacturing Numbers Look Strong. Don’t Get Too Optimistic.
Two manufacturing reports this week could leave an investor with the impression that the coronavirus, Boeing and trade war-related storms have passed for the beleaguered industrial sector. They haven’t.
- Barrons.com
GE Might Want to Sell More Jet Engines to Airbus. That’s Part of Aerospace Competition.
Amid Boeing's 737 MAX crisis, investors are learning that commercial aerospace is a pretty good business.
- Reuters
EMERGING MARKETS-Latam FX slammed by strong dollar, Brazil's real hits new low
* Brazil posts lowest monthly February inflation since 1994 * Coronavirus buoys safe-have demand for U.S. dollar * Argentine bonds fall after IMF nod for restructuring (Updates prices, adds comment) By Sruthi Shankar and Shreyashi Sanyal Feb 20 (Reuters) - Latin American currencies took a beating on Thursday, as investors feared a bigger hit to global growth from the coronavirus outbreak after cases outside of China rose. The Brazil's real hit a new low amid improving safe-haven appeal for the dollar as data pointed to strength in the U.S. economy, while the Mexican and the Chilean pesos fell more than 1.3%. The dollar was perched at a 10-month high against the Japanese yen after rising nearly 2% since Tuesday, while also upping pressure on Latin American currencies.
- MarketWatch
Philly Fed manufacturing index jumps to highest level in three years in February
The Philadelphia Fed manufacturing index in February jumped to 36.7 after registering 17 in the prior month.
- Reuters
U.S. labor market remains strong; manufacturing likely stabilizing
The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. There was encouraging news on the struggling manufacturing sector, with other data on Thursday showing factory activity in the mid-Atlantic region accelerated to a three-year high in February, likely as tensions in the 19-month trade war between the United States and China diminished. Washington and China signed a Phase 1 trade deal in January.
- Reuters
WRAPUP 2-U.S. labor market remains strong; manufacturing likely stabilizing
The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. There was encouraging news on the struggling manufacturing sector, with other data on Thursday showing factory activity in the mid-Atlantic region accelerated to a three-year high in February, likely as tensions in the 19-month trade war between the United States and China diminished. Washington and China signed a Phase 1 trade deal in January.
- Zacks
Boston Beer Company, Spirit AeroSystems, Apple, Starbucks and Carnival highlighted as Zacks Bull and Bear of the Day
Boston Beer Company, Spirit AeroSystems, Apple, Starbucks and Carnival highlighted as Zacks Bull and Bear of the Day
- Reuters
Brazil airline Gol says Q4 profit halved as Boeing MAX grounding continues
Brazilian airline Gol, Boeing Co's largest Latin America customer, said its profit almost halved to 352 million reais ($80.37 million) in the fourth quarter as its MAX fleet remained grounded after two deadly crashes. Overall Gol, which made a profit of 675 million reais in the fourth quarter of 2018, posted a loss of 117 million reais last year.
