|Bid||187.15 x 1800|
|Ask||187.12 x 2200|
|Day's range||183.48 - 189.97|
|52-week range||89.00 - 391.00|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||N/A|
|Earnings date||21 Oct 2020 - 26 Oct 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||13 Feb 2020|
|1y target est||173.50|
Boeing (NYSE: BA) in July recorded a sixth straight month with more cancellations of commercial aircraft orders than new orders being placed, a continuing pattern that reflects the impact the COVID-19 pandemic has had on the air travel industry. The aerospace giant said Tuesday that customers canceled a total of 43 orders for its 737 Max in July, with an additional nine aircraft removed from its backlog due to customers facing financial challenges. Boeing already was facing challenges with the 737 Max, which has been grounded since March 2019 after a pair of fatal accidents, and the pandemic has made the company's issues even more difficult to deal with.
Boeing sold no airline planes and customers canceled orders for 43 of its 737 Max jet last month as the aircraft maker continued to struggle with both the pandemic and the ongoing grounding of the Max after two deadly crashes. Boeing shares gained 3% in midday trading. Between cancellations and orders that Boeing no longer considers certain — often because of the buyer's fragile financial position — Boeing has lost more than 800 net orders so far this year.
Surprisingly, while airline stocks appear to be up 1% or 2% more or less across the board, the farther up the supply chain you go, the better the news gets, with shares of airplane manufacturer Boeing (NYSE: BA) rising 3.8% through 11:20 a.m. EDT, and its Boeing suppliers Heico (NYSE: HEI) and Triumph Group (NYSE: TGI) up 4.3% and 11.8%, respectively. In that regard, the fact that Boeing just reported today that it delivered only four airplanes globally in the entire month of July -- and had 43 order cancellations -- doesn't bode particularly well for Boeing stock, or for Heico or Triumph Group, either.