183.87 -0.43 (-0.23%)
After hours: 7:59PM EDT
|Bid||183.96 x 1000|
|Ask||184.00 x 1200|
|Day's Range||177.40 - 188.60|
|52 Week Range||89.00 - 391.00|
|Beta (5Y Monthly)||1.19|
|PE Ratio (TTM)||27.74|
|Earnings Date||Jul. 22, 2020 - Jul. 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb. 13, 2020|
|1y Target Est||154.32|
Shares of Boeing (NYSE: BA) airplane-parts supplier Spirit AeroSystems (NYSE: SPR) stock are up a strong 8.5% in 1:55 p.m. EDT trading Thursday -- and if I had to take a guess, I'd say they're up for the same reason Boeing itself is up today: Hope that airlines are getting healthier. In a column earlier today, Barron's magazine pointed out that American Airlines saw 71% sequential growth in passengers between April and May and is planning to expand capacity on domestic flights to about 55% of "normal" by July. More airplanes flying also means, though, that more airplanes will eventually get worn out and need to be replaced.
What happened Shares of Boeing (NYSE: BA) stock are up a strong 6.5% at 1:30 p.m. EDT Thursday -- and there could be a couple of reasons for that. Reason No. 1: As Barron's pointed out this morning, ...
A major airline is ramping up flights for the summer as demand returns, and Intel's new midrange PC chip gets a positive review.
In its effort to negotiate its 737 Max order book and avoid cancellations, Boeing (NYSE: BA) has scored a pair of wins in recent days. Shares of Boeing were up 12% as of 2:30 p.m. EDT, while shares of Spirit AeroSystems (NYSE: SPR) climbed 18%, Allegheny Technologies (NYSE: ATI) and Triumph Group (NYSE: TGI) were each up 11%, and shares of TransDigm Group (NYSE: TDG) gained 10%.
(Bloomberg) -- Amazon.com Inc. is expanding its air cargo operations with plans to grow its fleet to more than 80 planes as the online retailer takes advantage of a depressed market for aircraft during the pandemic.The company announced Wednesday that it had leased 12 converted Boeing 767-300 passenger planes from Air Transport Services Group Inc. One was added to Amazon’s existing fleet of 70 aircraft last month, and the rest will be delivered in 2021, the Seattle-based company said in a statement.The deal comes as the global aviation industry grapples with severe travel restrictions to limit the spread of Covid-19. Air Transport shares rose as much as 16% on the news.Amazon, meanwhile, is trying to keep up with a booming e-commerce business that has benefited from a surge in online shopping from people sheltering at home. The company unveiled the air cargo service, now called Amazon Air, in 2016 as it looked to rely less on carriers such as United Parcel Service Inc. and FedEx Corp.A report released last month by the DePaul University’s Chaddick Institute of Metropolitan Development estimated that Amazon Air may grow to 200 planes in the next seven or eight years, creating a cargo service that could rival UPS. “Amazon Air’s robust expansion makes it one of the biggest stories in the air cargo industry in years,” the study’s authors wrote.For 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.
Stocks extended gains Wednesday as investors set their sights on more plans to reopen businesses in the near-term.
Investors shed safe-haven assets such as gold and government debt on encouraging economic data from China and hopes the worst of the downturn stemming from the coronavirus crisis is over. Gold prices extended losses as MSCI's all-country world index, a gauge of equity markets in 49 countries, surged to its highest since March 6, while Germany's benchmark 10-year Bund yield hit its highest since mid-April. U.S. gold futures fell $27.40 to settle at $1,697.80 an ounce, the first time bullion has traded below $1,700 in a week.
Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries. Financials, industrials and tech pushed the three major U.S. stock indexes well into the black. The S&P 500 and the Nasdaq each posted their fourth straight day of solid gains.
A possible activist stake in Boeing lit a fire under the stock, and an analyst sees the App Store helping to drive services growth for Apple.
Financials, industrials and tech led the three major U.S. stock indexes well into the black, with the S&P 500 and the Nasdaq on course to post their fourth straight day of solid gains. The Nasdaq, the S&P 500 and the Dow have rebounded sharply from March lows hit as coronavirus-related lockdowns shocked the stock market, and they are now about 1.6%, 8.1%, and 11.6%, respectively, away from overtaking record closing highs set in February.
A jump in Boeing shares led Wall Street higher on Wednesday, with investors hopeful of a rebound from a coronavirus-led economic slump amid continuing social unrest in the country. Boeing Co jumped 8.5% and was the top boost to the blue-chip Dow Jones index after billionaire investor Daniel Loeb's Third Point said it took a stake in the planemaker.
In the long-run, does consistent market timing really matter to be a successful investor?
Billionaire investor Dan Loeb's Third Point has apparently taken a stake in Boeing (NYSE: BA), a move that should provide support for the beleaguered aerospace giant's shares. Boeing is also making progress securing its massive commercial order book despite the COVID-19 pandemic. Loeb's Third Point Offshore fund listed Boeing as one of its top winners in May, confirming market rumors that the fund has taken a position in Boeing.
(Bloomberg) -- The coronavirus pandemic is hitting Gulf Arab economies hard and emboldening the region’s dynastic rulers to push through unpopular fiscal measures that will impact their citizens. The question now is how long their resolve will last.Saudi Arabia, the biggest Arab economy, tripled its value-added tax and trimmed allowances for government workers. Oman cut salaries of new state employees.Even in the United Arab Emirates -- a financial and commercial hub with the Gulf’s most diversified economy -- there are calls for overhauling a so-called “rentier state” model, which depends on hydrocarbon wealth to support government jobs for citizens, generous benefits and a largely tax-free environment. A prominent Emirati lawyer recently called introducing corporate tax “unavoidable.”Yet for all the talk of accelerating overdue changes, there were also moves to protect state jobs and shield nationals employed in the private sector, casting doubt on whether the downturn will prompt deeper reforms that outlive the crisis.“The global economic recession has become a trigger for real reconsideration of the fundamentals of the economic models in the Gulf,” said Ayham Kamel, head of Middle East and North Africa at Eurasia Group. “In Saudi, Crown Prince Mohammad bin Salman wants change, but it’s far from easy to kill off the rentier-state model.”Austerity will affect Saudis like Mohammed, who works for the state, like almost two-thirds of his compatriots. When his pay was cut by 1,000 riyals ($266) a month after a cost-of-living allowance was canceled, the 29-year-old doctor said the measures were necessary. But he also hopes they’ll be reversed later, like they were in past crises.“If it’s temporary, one or two years, I can adapt,” he said, asking to withhold his full name. “My concern is that more taxes will be permanent — and that will be an issue.”Thrift may be in place for longer this time given the fiscal outlook. And with less money to spend on citizens, governments could face increased public scrutiny of how their oil wealth is used.In an unusual move for Saudi Arabia’s state-friendly media, local newspaper Okaz recently published two columns questioning the policy changes.“Citizens worry that the pressure on their living standards will outlast the current crisis,” wrote columnist Khalid Al-Sulaiman. “Increasing VAT from 5% to 15% will have a big effect on society’s purchasing power and will reflect negatively on the economy in the long term.”Fiscal WoesAlmost all the countries in the region are expected to run budget shortfalls of 15%-25% of economic output, leading to a build-up of debt, dwindling reserves, and tough choices. Saudi Arabia’s economy is forecast to contract by 2.9% this year, the most since 1999, according to Bloomberg Economics, with risks of an even deeper downturn.Saudi officials had been trying to reduce dependence on oil and trim the wage bill long before the epidemic; both are goals of the “Vision 2030” plan championed by the crown prince. The kingdom’s de-facto ruler has pushed through big changes since late 2015, though some were rescinded or softened after public blowback. Simultaneously, he’s cracked down on dissent, stifling criticism. The crisis could be an opportunity to intensify the transformation, particularly when nationalism is running high.Others around the region are following suit.“We will have a lot of questions about what constitutes a Gulf rentier-state model,” UAE Minister of State Anwar Gargash said on a panel last month. “I think this is going to accelerate the necessity for us to find something a little bit more sustainable.”In Kuwait, ruler Sheikh Sabah Al-Ahmed Al-Sabah renewed a call for an economy less reliant on oil and urged rationalizing spending. His son, who sits on the planning & development council, lamented a lack of progress and said the impact of the pandemic might make such changes unavoidable.Saudi Arabia’s decisions are worth emulating, said Eid Alshihri, a 42-year-old business consultant and a member of the Kuwaiti Entrepreneurs Society. But reforms are caught up in a political struggle with Kuwaiti lawmakers, who are blocking them for fear of losing seats and instead point to the sovereign wealth fund as a possible source of money to help weather the crisis.Government steps to help businesses were too little, too late, and the result will be the opposite of diversification, Alshihri said. “Many will shut down and apply for government jobs.”While some in Saudi Arabia say they’re happy to assume part of the burden, others are frustrated. Complaints could increase as the impact of the crisis sinks in; the higher VAT starts in July.The government has already stirred controversy by continuing to spend elsewhere. Officials say the sovereign wealth fund is seizing an opportunity to take advantage of market turmoil, building stakes in companies including Carnival Corp., Boeing Co. and Facebook Inc.“Why are they investing abroad so much and so impulsively, while investment in the people and their minds is so weak?” said Talal, a 23-year-old accountant, whose company cut his monthly salary by 600 riyals when the pandemic struck. “Officials say that there’s growth and there’s revenue and blah, blah — where did that go?”(Updates with remark from lawyer in third paragraph, additional quotes from Saudis starting in 10th)For 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.
Europe's biggest travel company, TUI Group, said it has struck a deal with Boeing for compensation and deferred deliveries of the grounded 737 MAX jet, boosting its finances as it seeks to survive the coronavirus pandemic. Shares in TUI rose 7% on news of the deal. The company's London-listed shares have halved in value since the beginning of the year, after TUI was hammered by the coronavirus outbreak which halted its activities in March.
Stocks staged a powerful advance Wednesday as more signs of economic recovery spurred investors to buy shares. Private payrolls fell far less than expected in May, suggesting layoffs were abating. Boeing's huge leap gave the Dow the day's biggest gains. The blue chip index rose 2%. The S&P 500 added 1.3%. The Nasdaq gained 0.8%, inching closer to its all-time high but lagging the others Wednesday as the leaders of the rally broadened beyond tech stocks to include financials, industrials and energy. Piper Sandler senior technical analyst Craig Johnson likes what he sees. "When I see expansion in breadth, that's when I say things are turning positive. Now is the time to load the boat." Investors loaded up on Boeing shares on word that Daniel Loeb did, too. The billionaire investor's firm, Third Point, said it had taken a stake in the aerospace giant. Warner Music struck a chord with investors. The world's third largest recording label's shares rose on their debut on the Nasdaq, marking a further sign of recovery for the IPO market. Coty shares rose as the cosmetics maker again tried to keep up with the Kardashians. The company said it's in talks to collaborate on a beauty line with reality TV star Kim Kardashian West. It already owns a majority stake in half sister Kylie Jenner's makeup and skincare line.
Every day seems to bring more news of airline job cuts. But one carrier at least still has expansion in mind. Wizz says the current crisis will be a drag into 2021. But it’s sticking to plans for a bigger fleet. That will see it have 9% more seats by March next year. A new joint venture in Abu Dhabi will also be bigger than originally planned when it starts up in the autumn. The Hungary-based carrier has one of the strongest balance sheets among European peers. It’s the region’s third-largest budget airline, behind Ryanair and easyJet. It expects to fly about 60% of its capacity over the summer, compared with about 40% at Ryanair. While it has announced 1,000 job cuts, Wizz says it won’t delay deliveries on any new jets. That’s a sharp contrast with holiday firm TUI. On Wednesday (June 3) it said it had agreed a deal with Boeing to delay deliveries. That will help spread out costs at a time when money is tight. Boeing will also pay it compensation over the grounding of 737 MAX jets. They’ve been out of action since March last year following two fatal crashes. Last month TUI said it would shed 8,000 jobs and cut costs by 30% after holiday travel dried up.
On Saturday, May 30, 2020, SpaceX made history. Blasting off from historic Launch pad 39A at Kennedy Space Center in Florida at 3:22 p.m. EDT, SpaceX successfully sent American astronauts into space from American territory for the first time since the Space Shuttle program shut down in 2011. Ten minutes later, the SpaceX Falcon 9 first stage successfully touched back down on a drone ship in the Atlantic.
U.S. Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing <BA.N> 737 MAX that was involved in two fatal crashes in five months that killed 346 people. The Senate Commerce Committee said Dickson "will testify about issues associated with the design, development, certification, and operation" of the MAX that has been grounded since March 2019. The FAA's long-standing practice of delegating certification tasks to Boeing employees for the MAX has come under withering criticism.
Last month, Boeing (NYSE: BA) terminated its deal to purchase most of Brazilian airplane maker Embraer (NYSE: ERJ) for $3.8 billion, sending Embraer stock into a tailspin. Only a few days later, however, news that Chinese airplane builder COMAC might want to step in and pick up the pieces sent Embraer stock flying again. Today, the prospect of a bidding war is helping lift Embraer shares even higher -- up 13.1% as of 1:40 p.m. EDT.
The increasing prevalence of artificial intelligence and 5G technology are threatening to drive up energy consumption, putting the technology sector on par with the aviation industry in the amount of CO-2 it releases, according to a leading researcher at Gartner. While data centers, tasked with processing the world’s data, have made significant investments to reduce energy consumption over the last several years, David Cappuccio, Gartner VP of Research, says that dynamic is likely to shift dramatically with the growing use of analytics and machine learning.
The Zacks Analyst Blog Highlights: Boeing, Leidos, Virgin Galactic, Northrop Grumman and Lockheed Martin
Qatar Airways Chief Executive Akbar al-Baker on Tuesday warned Airbus <AIR.PA> and Boeing <BA.N> against resisting the airline's requests to defer aircraft deliveries, in a battle over who should bear the strain of the coronavirus crisis. The state airline, whose CEO has more usually been known for criticising delays at planemakers, is now in talks like many rivals to push back deliveries due to the impact of the crisis. "We are negotiating with both Boeing and Airbus to fulfil our requirement to defer and we hope that both the manufacturers will oblige," he told Reuters by phone.
The world's No. 3 planemaker Embraer <EMBR3.SA> is open to new business partners after Boeing Co <BA.N> ditched a $4.2 billion deal that was years in the making, the Brazilian company's chief executive told Reuters. "We are not looking for a partnership of the size that the company had with Boeing," he said. "We think that it would be faster and more efficient to have partnerships by project."
It's the first Monday in June, trading is back in full swing after a holiday-shortened week, and stock markets are glowing a modest shade of green, with the S&P 500 up a healthy 0.5% in midday trading. Industrial stocks, in particular, are getting a nice boost, with shares of Boeing (NYSE: BA) up 3.5%, Boeing airplane parts supplier Spirit AeroSystems (NYSE: SPR) doing even better -- up 9.7% -- and Harley-Davidson (NYSE: HOG) riding 7% higher as of 2:15 p.m. EDT.