180.70 +7.54 (4.35%)
Pre-market: 8:20AM EDT
|Bid||174.25 x 1000|
|Ask||175.50 x 800|
|Day's range||155.49 - 173.78|
|52-week range||89.00 - 391.00|
|Beta (5Y monthly)||1.19|
|PE ratio (TTM)||26.06|
|Earnings date||22 Jul 2020 - 27 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||13 Feb 2020|
|1y target est||154.32|
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%.
Stocks extended gains Wednesday as investors set their sights on more plans to reopen businesses in the near-term.
Amazon is also opening regional hubs to support its growing air network. This summer it will open new regional air hubs at Lakeland Linder International Airport in Florida. Amazon is building a delivery network to service its own business and potentially rival those of major carriers such as FedEx Corp <FDX.N>, United Parcel Service Inc <UPS.N> and Deutsche Post DHL <DPWGn.DE>.
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.
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.
Aircraft leasing firm SMBC Aviation Capital on Wednesday said it had deferred delivery of 68 of Boeing's grounded 737 MAX jet by four years until 2025-2027, but said it did not plan to cancel any orders "at this point." SMBC, which has firm orders for 89 MAX jets and is committed to a fleet of 133, said it had secured satisfactory terms to defer the jets that were due for delivery in 2021-22 but had not entered production. "The terms are satisfactory to us and ... allows us to plan better over the next number of years," SMBC Aviation Capital Chief Executive Peter Barrett said in an interview.
Tui, Europe’s largest tour operator, has agreed compensation worth an estimated €300m from Boeing for the grounding of the jet maker’s 737 Max fleet, giving a much-needed cash boost to the struggling holiday company. Tui has not cancelled any orders of the aircraft model, which was grounded after two of the planes crashed five months apart killing 346 people. One 737 Max is in transit to Europe for Tui’s use and it has 15 in its fleet.
Aircraft lessors are facing roughly two years of lower rental rates due to the collapse in air travel, according to SMBC Aviation Capital, which on Wednesday deferred delivery of 68 Boeing 737 Max jets for four to five years. “It will be a tough couple of years for customers and the leasing market,” said Peter Barrett, chief executive of SMBC Aviation, as the top five lessor posted a rise of nearly 6 per cent in annual pre-tax profits to a record $364.5m. Mr Barrett said these opportunities included increasing market share by buying aircraft from airlines seeking to raise cash through sale and leasebacks of their jets.
American plane builder Boeing will compensate giant German tour operator TUI over the grounding of its troubled 737 MAX aircraft, TUI said Wednesday. While the companies did not reveal financial details of the settlement, TUI said it covered "a significant portion of the financial impact" from the grounding of its existing 737 MAX fleet, "as well as credits for future aircraft orders". Last year, TUI said that keeping the 15 aircraft already on its hands grounded until September 2020 would cost between 220 and 245 million euros ($247-275 million).
Europe's biggest travel company, TUI Group <TUIT.L>, said it has struck a deal with Boeing <BA.N> 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.
The nation’s top aviation regulator is going back to Capitol Hill to explain the government’s oversight of the Boeing 737 Max, which remains grounded after two deadly crashes. The Senate Commerce Committee said Tuesday that Federal Aviation Administration chief Stephen Dickson will appear before the panel June 17. Committee Chairman Roger Wicker, R-Ala., introduced legislation Tuesday that would direct the FAA to reconsider assumptions it makes about how quickly pilots respond to warning signs.
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.
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
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.
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.
Qatar Airways Chief Executive Akbar al-Baker on Tuesday warned Airbus and Boeing 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.
Here's how investors should be thinking through the impact of social unrest sweeping the country.
The success of SpaceX and launch of new constellations of satellites to enter low-Earth orbit in the coming years brighten prospects for space technology.