Boeing Stock Crashes on Coronavirus Travel Ban, Ratings Cut

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  • #23227
    ThePitBoss
    Participant

    Boeing corp stock fell a further 25% after…

    [article]1994[/article]

    #23241
    Truman
    Participant

    No Love Despite a 1000 point Dow bounce
    Market Summary > Boeing Co
    NYSE: BA
    124.14 USD −5.47 (4.22%)
    Closed: Mar 17, 4:29 PM EDT · Disclaimer

    #23322
    ClemSnide
    Participant

    Tale of the tape …
    Collapse Bailout and then running out of steam, bringing the Dow down with it today

    Chart via @DavidPivovarov
    ·

    #23323
    ClemSnide
    Participant

    BA leading Dow down

    Thom Hartle @CQGThom

    #23343
    ThePitBoss
    Participant

    Vertical Research Partners analyst Rob Stallard said

    “Air travel will fall 40% in 2020, recover some in 2021 and 2022 and then resume the 5% growth it has averaged for about a generation. Under this scenario, it would take roughly seven years get back to 2019 traffic levels”

    #23352
    Super Harley
    Participant

    From IBD

    Boeing stock is down 53.25% since the start of the year after falling to its lowest levels since April 2013 in March.

    $BA has rebounded on reports that Boeing could get a government bailout but shares are well below their 50-day and 200-day lines and has been underperforming the S&P 500 for the better part of a year.

    Boeing shares are flat at 152.32 on the stock market yesterday. But the stock’s Composite Rating is 9 out of a best possible 99, and the EPS Rating, which measures whether a company can consistently grow profit, is 7. IBD encourages investors to focus on stocks with Composite Ratings of 90 or higher, and an EPS Rating of at least 80.

    Market Summary > Boeing Co
    NYSE: BA
    152.32 USD +0.040 (0.026%)
    Mar 31, 1:33 PM EDT ·

    #23377
    Super Harley
    Participant

    [color=red][size=5][b]Despite DJIA up Boeing Co
    NYSE: BA
    124.08 USD −6.57 (-5.03%)
    [/b][/size][/color]

    #23493
    ClemSnide
    Participant

    Boeing to resume phased in commercial plane production in Puget Sound

    Boeing (NYSE:BA) announces plans to resume production of all commercial airplanes in a phased approach at its Puget Sound-region facilities next week.

    The company says ~27K employees in the Puget Sound area will return to production of the 747, 767, 777 and 787 programs, and the 737 program will resume working toward restarting production of the 737 MAX.

    Operations remain suspended at Boeing South Carolina at this time.

    Market Summary > Boeing Co
    NYSE: BA
    134.24 USD −11.65 (7.99%)
    Closed: Apr 16, 5:20 PM EDT ·
    After hours 145.43 +11.19 (8.34%)

    #23506
    MoneyNeverSleeps
    Participant

    [size=5][color=green][i][b]Boeing Co continued its recovery with ramp from last night
    Market Summary > Boeing Co
    NYSE: BA $154.00 USD +19.76 (+14.72%) Close[/b][/i][/color][/size]

    #23764
    ThePitBoss
    Participant

    Boeing (BA) Initiated by Brokerage Firm: RBC Capital Mkts Ratings Change Outperform Price Tgt: $164

    #24019
    Helmholtz Watson
    Participant

    Norwegian Air canceled orders for 97 Boeing 737 Max and 787 jets, and plans to seek compensation for the grounding of the 737 and engine troubles related to the 787.

    #24143
    TradersCom
    Keymaster

    [color=red][b]Boeing on Tuesday said customers canceled another 60 of the company’s beleaguered 737 Max planes in June, capping a bleak first half to the air for the manufacturer.
    [/b][/color]
    That tipped Boeing’s net cancellations to 323 planes in the first six months of the year.

    Boeing’s backlog shrank to 4,552 to planes, a tally that included orders the company periodically removes due to customers’ financial trouble or other factors. For many customers, it was easier to scrap orders after the 737 Max was grounded for more than 12 months.

    https://www.cnbc.com/2020/07/14/boeing-737-max-cancellations-climb-again-in-dismal-first-half-of-the-year.html

    #25168
    Truman
    Participant

    Boeing first US commercial flight for 737 MAX today

    Last month, the FAA rescinded its order that halted commercial operations of Boeing’s 737 MAX, and today the plane will make its first commercial flight in the US. American Airlines (AAL) is scheduled to fly a 737 MAX from Miami to NYC this morning, according to multiple news reports.

    The plane has been grounded since March 2019 following two crashes believed to be caused by the plane’s automated flight-control system being erroneously activated. That problem has been fixed via new systems and software installations as well as pilot training. After that span of evaluation and improvement, today is a big day, where the rubber hits the road and these planes get back in the air with real passengers.

    United Airlines (UAL) plans to start MAX flights on February 11 from its Denver and Houston hubs, according to CNBC.com, while Southwest Airlines (LUV) is set to start flying MAX planes in Q2.

    It’s good to see multiple airlines sticking with these MAX planes, and the decision make a lot of sense for carriers because the model is significantly more fuel efficient than their predecessors. Of course, the MAX plane is coming back to a totally different commercial aircraft world in which the pandemic has sapped demand for flying and has spurred airlines to cancel orders. As such, investors should not expect some huge near-term rebound in sales.

    On its last earnings call, BA said it has approximately 450 737 MAX aircraft built and stored in inventory. The company expects that it will have to remarket some of these aircraft and potentially reconfigure them, which will extend delivery timeframes. BA’s current estimate is that it expects delivery of about half of the aircraft currently in storage by the end of 2021 and the majority of the remaining in 2022. As you can see, it’s going to take some time. We should get an update in late January when BA reports Q4 results.

    At the same time, the world that the MAX is re-entering is different from the one it left, so investors need to understand that a quick sales rebound is unlikely. The focus now will turn to building up consumer confidence, not only in the safety of these planes but for flying generally. With the MAX issues fixed and the vaccine getting rolled out, we think there is a lot of room for optimism.

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