|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's range||141.24 - 149.65|
|52-week range||89.00 - 391.00|
|Beta (5Y monthly)||1.45|
|PE ratio (TTM)||N/A|
|Earnings date||22 Jul 2020 - 27 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||13 Feb 2020|
|1y target est||156.72|
May.27 -- Chad Anderson, managing partner of Space Capital, discusses what the scrubbed launch of Elon Musk's SpaceX rocket delay means for NASA and SpaceX on "Bloomberg Technology."
Shares of Spirit AeroSystems (NYSE: SPR) gained 10.7% on Wednesday, as key customer Boeing (NYSE: BA) restarted its 737 Max production line. Spirit's fortunes are closely tied to Boeing, its former parent, and the restarted production is good news for beleaguered Spirit shares. Spirit AeroSystems makes the fuselages for the 737 Max, and the company was having troubles well before the COVID-19 pandemic, due to the aircraft being grounded after a pair of fatal crashes.
The aircraft maker's best-selling plane was grounded in March 2019 after the second fatal 737 MAX crash in five months. Boeing declined to say what the current production rate is. Boeing said last month it expected to resume 737 MAX deliveries in the third quarter following regulatory approvals, with production restarting at low rates in the second quarter before gradually increasing to 31 per month in 2021.
Optimism surrounding the reopening of the U.S. economy appears to be the driving force, although it remains to be seen whether that optimism is warranted. Disney put forth plans to reopen some of its parks in July, while Boeing disclosed that it would layoff nearly 7,000 U.S. employees this week in a bid to cut costs. The pandemic has been a disaster for Disney, which relies on its parks for a significant portion of revenue and profits.
Boeing Co said on Wednesday it was eliminating more than 12,000 U.S. jobs, including 6,770 involuntary layoffs, as the largest American planemaker restructures in the face of the coronavirus pandemic. Boeing also disclosed it plans "several thousand remaining layoffs" in coming months but did not say where those would take place. Boeing is slashing costs as a sharp drop in airplane demand during the pandemic worsened a crisis for the company whose 737 MAX jet was grounded last year after a second fatal crash.
Boeing (NYSE: BA) on Wednesday said it was laying off 6,770 U.S. workers, part of a broader effort to right-size the business and help the company weather the COVID-19 pandemic. The company said in early April it would offer early retirement and buyout packages to its workforce, part of a broader retrenchment in response to an expected fall in demand for new commercial aircraft. CEO Dave Calhoun in a letter to employees detailing the cuts said “I wish there were some other way” but the company believes it needs to adjust employment levels based on expected demand.
U.S. stocks are set to open in positive territory Wednesday, continuing recent gains, amid rising confidence that the coronavirus outbreak is over its worst and the economy is moving closer towards a recovery. At 7 AM ET (1100 GMT), S&P 500 futures traded 32 points, or 1.1%, higher, Nasdaq 100 futures up 65 points, or 0.7%. The Dow Jones Industrial Average cash index is now at its highest level since March 10, the S&P 500 since March 5, while the Nasdaq Composite is at a three-month high.
The plane manufacturers are working with government authorities and academics to study risks on airplanes and how to mitigate them.
Shares of Boeing (NYSE: BA) climbed 5% on Tuesday, fueled by broader market optimism that the economy is beginning to return to normal and a surge in airline stocks. Boeing shares have plummeted this year as its airline customers have scrambled to survive, but Tuesday's headlines offer reason to hope the worst of the pandemic might be behind us. Boeing shares have lost more than half their value year to date, as the COVID-19 pandemic has caused airlines that just months ago were in expansion mode to instead cut costs, ground planes, and focus on survival.
Entrepreneur Elon Musk's SpaceX is set to launch two American astronauts to the International Space Station on Wednesday from NASA's Kennedy Space Center in Florida, ending the U.S. space agency's nine-year hiatus in human spaceflight. California-based SpaceX's Crew Dragon capsule carrying astronauts Doug Hurley and Bob Behnken and its Falcon 9 rocket is due to lift off at 4:33 p.m. EDT (2033 GMT) on Wednesday from the same launch pad used by NASA's last space shuttle mission in 2011.
(Bloomberg) -- Billionaire Richard Branson’s Virgin Orbit said a crucial test of its two-stage, orbital rocket system, designed to rival that of Elon Musk’s SpaceX for satellite launches, ended the mission shortly after releasing the rocket from the plane.A Boeing Co. 747, named Cosmic Girl, took off from the Mojave Air and Space Port in California on Monday at 11:56 a.m. Pacific Time, carrying beneath it Virgin Orbit’s LauncherOne rocket over the Pacific Ocean. About an hour later, the plane released the rocket in what Virgin Orbit called a “clean” release. Three minutes later, the company said the mission had ended shortly into the flight.There have been more than 20 previous tests, including one earlier this year carrying the rocket, but this was meant to be the first time LauncherOne had been ignited. Earlier this week, Virgin Orbit described Monday’s test as “the apex of a five-year-long development program.”“We’ve confirmed a clean release from the aircraft. However, the mission terminated shortly into the flight,” the company tweeted Monday. “Cosmic Girl and our flight crew are safe and returning to base.”Prior to Monday’s attempt, Virgin Orbit said maiden flights by government and commercial providers typically fail about half the time. The company’s ultimate goal is to use its rockets to launch small satellites into space, competing with ground-based launches, such as those from Space Exploration Technologies Corp.SpaceX has a significant head start. Over the past decade it’s launched about 100 rockets, landed many of them safely back on Earth, and come to dominate the industry, while being valued at close to $40 billion. In a few days, SpaceX is set to carry two NASA astronauts to the International Space Station -- the first time NASA personnel have blasted off from the U.S. since the 2011 retirement of the Space Shuttle.In depth: Elon Musk Speaks Frankly on Coronavirus, SpaceX, and Rage TweetsMeanwhile, the Virgin Orbit test this weekend comes at a critical time for Branson, as the coronavirus pandemic weighs heavily on his leisure and travel assets.The Virgin Australia airline fell into administration last month, and Virgin Atlantic pitched to about a dozen potential investors last week as the U.K. government drags its heels over an emergency bailout.Branson’s Vieco 10 investment company also recently offloaded about 2% of its stake in a separate space company, Virgin Galactic Holdings Inc., as the billionaire looks to support his broader business empire. Virgin Galactic is trying to pioneer space tourism.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.
An analyst expects a recovery in air travel to drive gains for Boeing, and McDonald's has set aside some cash to keep franchisees afloat.
The coronavirus pandemic swept across the airline industry, upending fleet, route, and passenger number predictions for years to come, and the sharp reduction in flights will keep jet fuel demand subdued for a long time
The Federal Aviation Administration on Tuesday outlined a series of changes to the way it reviews aircraft designs, responding to criticism directed at the agency following a pair of Boeing (NYSE: BA) 737 Max crashes that killed more than 300. Specifically, the FAA has come under criticism for its practice of giving Boeing and other planemakers responsibility and authority to review design changes. Investigations into the 737 Max crashes have raised questions about Boeing's culture, and put the FAA's processes under a microscope.
In the last five trading sessions, the defense biggies put up a solid show. Boeing gained the most, with its share price rising 8.2%, followed by Northrop Grumman.
The collapse of air travel has dragged down the commercial aerospace industry, but some companies in the sector are better positioned ahead of its eventual recovery.
Boeing has appointed former engineering and development chief Mike Delaney to head wider efforts to build confidence, and Airbus leaders say the industry is moving from an initial crisis phase to securing public trust. Health officials are still quantifying various sources of transmission for COVID-19 disease caused by the virus, but attention focuses on the risk of catching it from airborne droplets from coughing or sneezing passengers as well as from touching infected surfaces. "It's about explaining what we do for the safety of passengers in the large sense: aircraft safety but also sanitary safety," Airbus engineering head Jean-Brice Dumont said.
The Boeing Company (BA) will deliver 650 SLAM ER missiles, and 402 Block II missiles and support equipment to Saudi Arabia, per the recent contract terms.