367.89 +0.45 (0.12%)
After hours: 7:57PM EST
|Bid||367.30 x 800|
|Ask||367.60 x 800|
|Day's Range||361.48 - 368.48|
|52 Week Range||292.47 - 446.01|
|Beta (3Y Monthly)||1.24|
|PE Ratio (TTM)||55.30|
|Earnings Date||Jan. 28, 2020 - Feb. 3, 2020|
|Forward Dividend & Yield||8.22 (2.27%)|
|1y Target Est||379.00|
The company began to build 777 fuselages in 2015 in an upright orientation, with robots drilling holes and installing fasteners, an initiative known as fuselage automated upright build (FAUB). Boeing had faced delays last year when the FAUB machine was tried out on existing versions of the 777. The system was developed by Boeing Commercial Airplanes and has been tested in commercial and defense programs, company spokesman Paul Bergman said in an emailed statement.
The head of the Southwest Airlines Co pilot union Wednesday sharply criticized Boeing Co and questioned whether the manufacturer was trying to speed up the timeline for the 737 MAX's return to service. Boeing's best-selling 737 MAX has been grounded since March, after two deadly crashes in five months killed 346 people, and it has come under harsh criticism from U.S. lawmakers.
(Bloomberg) -- Microsoft Corp. is sending representatives to a series of meetings with Pentagon officials Wednesday to discuss how companies can contribute to the military’s work on artificial intelligence, according to a list of participants reviewed by Bloomberg. Microsoft is the only Big Tech company set to attend the event, which is likely to draw objections from employees and protesters who have broad concerns about the use of AI for military purposes.About 140 companies and organizations are on the list of attendees, which includes Boeing Co., International Business Machines Corp. and Lockheed Martin Corp. Anduril Industries Inc., a new startup from former Facebook Inc. executive Palmer Luckey, will also be there. The defense contractor began working this year on Project Maven, a technology unit of the Pentagon whose official name is the Algorithmic Warfare Cross-Functional Team.For the last two years, Maven has been at the center of a contentious public debate over the technology industry’s willingness to help build military technology. The project uses computer vision software to automatically analyze footage gathered by U.S. military drones. Google, an early participant in Maven, said last summer it would stop working on the project, following protests from employees who said the work strayed too closely to autonomous weaponry. Employees at Clarifai, a small computer vision startup, also objected to Maven, although that company continued to work on the project. It is on the list of attendees for this week’s meetings, which are co-hosted by Maven officials.Wednesday’s event is billed as an “AI Industry Day,” and the stated goal is to develop AI technology to assist soldiers in the field. The government said it is particularly interested in facial recognition, natural language processing, social media data and drone footage.Microsoft has made significant inroads with its military business over the last year. It won a contract a year ago worth as much as $480 million to build combat-ready versions of its HoloLens augmented reality headsets. Last month, it also won a $10 billion contract called Joint Enterprise Defense Infrastructure, or JEDI, to build cloud computing infrastructure for the Defense Department.Both contracts inspired criticism from Microsoft employees who said they hadn’t signed up to build weaponry. The company’s executives have consistently said they would not step back from working with the U.S. military. In a meeting with employees the week after the company won the JEDI contract, Microsoft Chief Executive Officer Satya Nadella said he respected dissenting opinions but that the company had always been unambiguous about its military work, according to a person who attended and asked not to be identified discussing a private event. A Microsoft spokesman declined to comment. Microsoft’s ties to government work have caused controversy in other areas, too. Workers at Microsoft’s GitHub unit have asked the company to cancel a contract with the U.S. Immigration and Customs Enforcement agency. On Wednesday morning, a group of protesters gathered at a GitHub conference in San Francisco to draw attention to the issue.The Defense Department has put increasing focus on AI in recent years. It sees the technology as key to geopolitical competition with China. But building it has come with challenges. U.S. officials have spoken openly about tensions in the military’s relationship with tech companies.“Some employees in the tech industry see no compelling reason to work with the Department of Defense,” Lieutenant General Jack Shanahan, the head of the Pentagon’s Joint Artificial Intelligence Center, said at an event last week. Their reluctance, he said, often came from the government’s inability to adapt to the pace of the private sector: “We don’t make it easy for them.”(Updates with GitHub protests in the seventh paragraph.)To contact the author of this story: Joshua Brustein in New York at email@example.comTo contact the editor responsible for this story: Mark Milian at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Greener and leaner transportation is a top priority for most industrialized countries currently, and smart solutions such as scooters, electric vehicles and bullet trains are quickly gaining popularity
CHICAGO, Nov. 13, 2019 -- Boeing today named Donna Hrinak to the newly-created position of president of Boeing Canada. Hrinak will coordinate all company business.
(Bloomberg) -- Argentina’s airline passengers have been enjoying their first taste of the global boom in discount airlines. Now the shift to greater competition is under threat from a powerful potential foe: the country’s newly elected leader.While President-elect Alberto Fernandez hasn’t detailed his plans for the industry, he emphasized during his campaign the need to boost state-controlled flagship Aerolineas Argentinas. His rival, departing President Mauricio Macri, championed policies that allowed budget carriers to vie more effectively for passengers starting last year.Fernandez’s resounding victory -- fueled by voters’ rejection of austerity measures adopted as part of a $56 billion loan from the International Monetary Fund -- endangers an aviation opening that has enabled half a million passengers to fly for the first time. The biggest discounter, Flybondi, drew unwanted attention last week after its former chief executive officer called Fernandez’s political party a “cancer” in leaked personal messages.“A Fernandez administration can make life much harder for new entrants and favor Aerolineas Argentinas,” said Savanthi Syth, airlines analyst at Raymond James. “There’s a risk that the somewhat supportive environment, through the removal of barriers to entry/market-based competition, would be reversed with a change of the administration.“Of Macri’s many grand plans, his airline opening was one of the few that were successfully executed. He allowed competition on more routes and scrapped price floors that propped up airfares. Alongside airport operator Corporacion America, the government invested $2.2 billion since 2016 in infrastructure works. A former military airport near Buenos Aires, El Palomar, was adapted for commercial flights.That positioned Argentina to join a regional boom in budget airlines in countries from Mexico to Brazil.“What’s interesting about Latin America is that low-cost carriers have really been the engine of growth, especially in Brazil but also in other large markets like Mexico and Colombia,” said Darren Hulst, Boeing Co.’s managing director for market analysis & sales support.Low-cost operators control about 35% of the Latin American airline market, he said.Fewest TripsCompanies such as Flybondi, Norwegian Air Shuttle ASA and Chile’s JetSmart flocked to Argentina, which according to Syth has Latin America’s fewest trips per person after Venezuela. Argentina had 14.2 million domestic passengers in 2018, up 13% from the previous year, and low-cost carriers now fly 40 routes. The discounters have carried more than 3.4 million passengers since early 2018, according to the Transport Ministry.“We continue doing what we know how to do: being efficient and demonstrating that our model has no political party,” Mauricio Sana, Flybondi’s chief commercial officer, said in comments before last week’s dust-up involving the company’s former boss. The ex-CEO, Julian Cook, resigned from Flybondi’s board last week after his harsh words for the next president’s party.For discounters, the going hasn’t always been easy in a country with 50% inflation and an economy headed for its second straight annual contraction this year and a third expected in 2020.Perhaps the toughest challenge has been the plunging Argentine peso, which lost half its value last year and has already dropped 37% in 2019 -- with most of this year’s decline coming after an August vote that foreshadowed Fernandez’s election victory.Currency MismatchThe volatility is bad news for an industry where the purchasing power is in local currency but as many as 60% of costs are in dollars.“The rising inflation has imposed some challenges on the ability for the companies to both grow and sustain the operation,” said Ole Christian Melhus, head of Norwegian Air Argentina, which operates domestic routes as well as a flight to London. “Growth plans have been reduced.”Flybondi has the most routes of the discounters and an 8% domestic market share. Since changes in the airline policy, the piece of the pie controlled by Aerolineas Argentinas has fallen to 65% so far this year from 74% in 2015, according to the Transport Ministry. But the flagship airline flew 3% more passengers in the first eight months of 2019 compared with the same period a year earlier as the number of flyers expanded.Fernandez, who takes office Dec. 10 after winning on the first ballot Oct. 27, campaigned on promises to boost salaries and stoke consumer spending. His running-mate, former President Cristina Fernandez de Kirchner, took a protectionist approach to the economy during her two terms in office.In the airline industry, the incoming president has complained that the rise of discounters has put more pressure on Aerolineas.“It allows low-costs to go to the profitable destinations while Aerolineas must take care of the unprofitable ones,” he said in a radio interview during the campaign. “I’ll review it.”Rising SubsidiesThe state-controlled company will require more than $300 million in subsidies this year, up from $197 million in 2018, because of the latest currency volatility, said Guillermo Dietrich, Macri’s transport minister. Another drag on its finances comes from the strength of its labor unions, which require more pilots and mechanics per plane than other companies operating in the country, he said.“We’ve worked hard to cut costs,” he said. “To curb the kilograms on the aircraft, we analyzed everything from digitizing manuals to the weight of coffee stir sticks.”Many of the low-cost carriers are diversifying their risk amid the turbulence. Four of them have announced this year that they are opening routes to Brazil, the largest market in the region.Ultimately, though, their fate depends on what happens in Argentina.“Nothing is clear for now,” Flybondi’s Sana said.(Updates with Boeing comment in seventh paragraph.)To contact the reporters on this story: Jorgelina do Rosario in Buenos Aires at email@example.com;Fabiola Moura in Sao Paulo at firstname.lastname@example.org;Carolina Millan in Buenos Aires at email@example.comTo contact the editors responsible for this story: Brendan Case at firstname.lastname@example.org, Carolina MillanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Indonesia will not approve the return of the Boeing Co 737 MAX to its skies until after aviation regulators in the United States, Europe, Brazil, Canada and China do so, an official at Indonesia's aviation regulator said. A Lion Air 737 MAX crashed shortly after take-off from Jakarta last year, killing all 189 people on board, and the model was grounded globally following a second deadly crash in Ethiopia in March this year. Indonesian investigators last month released a final report into the Lion Air crash that included recommendations to Boeing, the U.S. Federal Aviation Administration (FAA) and the airline on improving safety practices.
Some U.S. airlines are willing to pick up their 737 MAX jets from Boeing Co as soon as December if the Federal Aviation Administration (FAA) approves delivery of the grounded planes before new pilot training is agreed, three people with knowledge of the matter said. Hundreds of 737 MAX jets have rolled off Boeing's Seattle production line in the months since two fatal crashes on the aircraft led to a global safety ban, forcing the planemaker to park un-flown jets at facilities across Washington state until regulators approve software and training updates. Boeing on Monday said the FAA could issue an order approving the plane's return to service in December, even though approval for training changes would take more time.
Serving airlines that will operate flights lasting 14 hours or longer is a "key consideration" for Boeing Co's global growth strategy over the next 20 years, an executive said on Tuesday. "Globally, if long haul is growing 5% per year, ultra long haul is growing twice that per year," Darren Hulst, a managing director at Boeing, told Reuters in Sao Paulo while discussing market forecasts for the next 20 years. Commercial aviation overall is expected to grow 4.6% per year on average between 2019 and 2038, according to a Boeing market study released in September, representing a slight slowing from the previous pace of about 5%, according to figures compiled by the World Bank.
One of two Boeing Co technical pilots who described flaws in a crucial flight control system in leaked 2016 instant messages has been transferred to a new job at the U.S. planemaker, two people familiar with the matter said on Tuesday. Boeing shares tumbled after the conversation between the employee, Patrik Gustavsson, and then-chief technical pilot Mark Forkner became public on Oct. 18. The comments by Forkner, who has since left Boeing, were among those pinpointed by U.S. lawmakers in hearings in Washington as evidence Boeing knew about problems with flight control software well before two crashes of its 737 MAX aircraft in October 2018 and March 2019 killed 346 people.
The U.S. Federal Aviation Administration (FAA) said on Tuesday it was revising its order requiring checks for structural cracks in Boeing 737 NG planes to cover a larger area after the company said additional cracks had been found. Boeing said on Tuesday after completing a round of inspections for cracking on some 737 NGs with a large number of take-offs and landings, one airplane was found to have a small crack in an adjacent location. "Boeing has asked those operators to also inspect the adjacent area to ensure any potential issue is identified and repaired," the company said in a statement.
Net orders so far this year came to just 45 at the end of October, down from 56 in September, further widening the gap on sales this year with the company's European rival Airbus SE which has now sold nearly 500 more planes. After an accounting adjustment representing jets ordered in previous years, but now unlikely to be delivered, Boeing's net total for orders this year sank to a negative 95 airplanes. The orders included what Boeing called a "conversion" by Air Lease Corp of 15 MAX orders into five 787 Dreamliners.
Investing.com - Stocks ended basically flat Tuesday as President Donald Trump's speech did not offer clues on when a China-U.S. trade deal will be signed.
Investing.com – Stocks were struggling to hold onto morning gains Tuesday even as President Donald Trump touted his administration's economy policy and hopes for a phase one trade deal.
Nov.13 -- Alan Joyce, Qantas Airways Ltd. chief executive officer, discusses the prospects for Boeing Co.'s 737 Max jets returning to the sky with Bloomberg's Vonnie Quinn and Guy Johnson on "Bloomberg Markets."