BA - The Boeing Company

NYSE - NYSE Delayed price. Currency in USD
304.14
-13.76 (-4.33%)
At close: 4:02PM EST

305.49 +1.35 (0.44%)
After hours: 5:42PM EST

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Previous close317.90
Open318.26
Bid304.77 x 900
Ask305.49 x 900
Day's range303.63 - 320.64
52-week range302.72 - 446.01
Volume7,813,637
Avg. volume6,520,480
Market cap171.277B
Beta (5Y monthly)1.31
PE ratio (TTM)N/A
EPS (TTM)-1.12
Earnings date21 Apr 2020 - 26 Apr 2020
Forward dividend & yield8.22 (2.59%)
Ex-dividend date12 Feb 2020
1y target est344.00
  • Three U.S. Senate Democrats propose sweeping reforms after Boeing 737 MAX crashes
    Reuters

    Three U.S. Senate Democrats propose sweeping reforms after Boeing 737 MAX crashes

    Three Democratic U.S. senators on Tuesday introduced sweeping legislation to reform how new airplanes are certified and overseen by U.S. regulators after two fatal Boeing 737 MAX crashes killed 346 people. The bill would create an independent aircraft certification commission, bar Boeing Co and other manufacturers from tying employee compensation to delivery of airplanes and increase oversight of manufacturers that handle delegated certification tasks on behalf of the Federal Aviation Administration (FAA). Boeing's best-selling jet has been grounded since March 2019 and the FAA has been criticized by some for its role in approving the jet's new safety system in the wake of both fatal crashes.

  • U.S. regulator: Airlines should complete inspections on 737 MAX panels before flying
    Reuters

    U.S. regulator: Airlines should complete inspections on 737 MAX panels before flying

    The Federal Aviation Administration (FAA) on Tuesday proposed that airlines complete inspections on a key component that could make Boeing 737 MAX airplanes vulnerable to lightning strikes and interference from high-power radio frequency transmitters before returning to service. Boeing Co in December issued a service bulletin that disclosed procedures for detailed inspections and repairs or replacement if needed for panels on top of the engine housing that may not ensure adequate shielding of the underlying wiring. Boeing said on Tuesday it agreed with the FAA recommendation.

  • Japan's ANA orders 15 more Boeing 787 Dreamliners worth $5 billion at list prices
    Reuters

    Japan's ANA orders 15 more Boeing 787 Dreamliners worth $5 billion at list prices

    SEATTLE/TOKYO (Reuters) - Japan's ANA Holdings Inc will buy 15 Boeing Co 787 Dreamliners worth $5 billion at list prices, it said, the first commercial order announcement for the U.S. planemaker this year as it wrestles with the grounding of the smaller 737 MAX. The deal, which sees Japan's biggest carrier switch from Rolls-Royce engines to ones supplied by General Electric, is a boost for Boeing after it posted no January orders for the first time in decades. ANA's order includes 11 787-10 stretch versions and four shorter 787-9s.

  • Boeing’s Board Needs Overhaul, Not Rejiggering
    Bloomberg

    Boeing’s Board Needs Overhaul, Not Rejiggering

    (Bloomberg Opinion) -- When Boeing Co. CEO David Calhoun was asked last month how he would fix the 737 Max crisis as a long-time insider, he bristled at the label, telling reporters, “I watched the same movie you did.” Calhoun, of course, was hardly just an observer, or shouldn’t have been: He has been a director at the company since 2009. A pair of board changes announced on Monday should be viewed in that context. The rejiggering is fine, but ultimately just a Band-Aid over the bigger question of the board’s accountability for one of the ugliest period’s in the company’s history.Boeing directors Edward Liddy – the former CEO of Allstate Corp. and an interim leader at American International Group Inc. during the financial crisis — and Michael Zafirovski, a former General Electric Co. executive and an adviser to Blackstone Group Inc., will step down. Zafirovski was Boeing’s longest-serving director at more than 15 years, while Liddy has been on the board since 2010 following an earlier stint that was disrupted by his appointment at AIG. Neither had direct experience in commercial-aerospace development. They will be replaced by Qualcomm Inc. CEO Steve Mollenkopf and former United Technologies Corp. CFO Akhil Johri. Mollenkopf’s engineering degree fits with Boeing’s pledge to staff its board with that kind of expertise amid criticism that it lost sight of technical priorities in the pursuit of ever-higher profits. Johri brings the perspective of someone who’s been on the other side of Boeing’s aggressive stance toward its suppliers and could be an asset in healing those relationships.Cleaving off long-serving directors and those with less helpful expertise is a good and necessary move. But that’s an odd juxtaposition to Calhoun himself, who is now the second-longest serving director and whose background in private equity and as a GE executive under Jack Welch at least on the surface seems anathema to the cultural changes that are needed at Boeing.(1) Among the legacy directors that remain, the median tenure is nine years. Point being, more needs to be done. Shareholders will have an opportunity to lodge symbolic protest votes against the current slate at Boeing’s annual meeting, which is likely to take place in April. But there’s something to be said for a more proactive, deep overhaul, much like what took place at GE.On the bright side, Boeing seems to have finally woken up to the terrible optics of the special $7 million bonus for Calhoun tied to the safe return of the 737 Max. In a filing on Monday, Boeing spelled out additional milestones that Calhoun must hit by 2023 in order to receive the payout. These include stabilizing the KC-46 military tanker program that’s struggled with production setbacks, and successfully guiding the 777X into service after the widebody jet’s first flight was delayed by teething issues with the engine. Calhoun also must follow through on Boeing’s commitments for building a bigger services business and finally close the company’s joint venture with regional-jet maker Embraer SA, which is being held up by a regulatory review from the European Union. On top of that, Boeing’s Starliner spacecraft needs to successfully complete a manned flight after an uncrewed mission in December was aborted amid what NASA has called “critical software defects.” And lastly, Calhoun must “strengthen engineering” at the company.It’s still not clear why Calhoun needs a special bonus on top of a salary and a regular bonus to incentivize him do his job. But that lengthy list of priorities and tasks is a testament to just how deep the problems run at Boeing. Whether a guy who’s been on the board for a decade can deliver on all of these goals in a way that redefines the company’s ethos and culture remains to be seen.  (1) In somewhat of an interesting twist, Mollenkopf spent about a year and a half on the board of GE. He was appointed in 2016 under Jeff Immelt, but stepped down in 2018 as Immelt's successor John Flannery rejiggered the board and as Mollenkopf's company fended off a hostile takeover approach from Broadcom Inc.To contact the author of this story: Brooke Sutherland at bsutherland7@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Meggitt warns of growth hit from 737 MAX difficulties, coronavirus
    Reuters

    Meggitt warns of growth hit from 737 MAX difficulties, coronavirus

    Britain's Meggitt warned that future growth would be constrained by the halt to production of Boeing's 737 MAX aircraft and the economic impact of the coronavirus, knocking its shares. For 2020, Meggitt, which makes aerospace parts, said that organic revenue growth would be between 2% and 4%, trailing the 8% rise recorded last year, while underlying operating profit would take a 20 million pound ($26 million) hit from the two factors. The impact was split equally, with 10 million pounds from the Boeing issues and 10 million pounds from the rapid spread of the COVID-19 virus, mainly as a result of the drop in air traffic, Meggitt CEO Tony Wood said.

  • Reuters - UK Focus

    Meggitt sees 2020 growth constrained by 737 MAX difficulties, coronavirus impact

    British engineering company Meggitt warned that its growth in 2020 would be constrained by the impact of the halt to production of Boeing's 737 MAX aircraft, combined with the disruption caused by coronavirus. The company said that organic revenue growth in 2020 would come in at between 2% to 4%.

  • Japan's ANA orders 15 more Boeing 787 Dreamliners worth $5 bln at list prices
    Reuters

    Japan's ANA orders 15 more Boeing 787 Dreamliners worth $5 bln at list prices

    SEATTLE/TOKYO (Reuters) - Japan's ANA Holdings Inc will buy 15 Boeing Co 787 Dreamliners worth $5 billion at list prices, it said, the first commercial order announcement for the U.S. planemaker this year as it wrestles with the grounding of the smaller 737 MAX. The deal, which sees Japan's biggest carrier switch from Rolls-Royce engines to ones supplied by General Electric , is a boost for Boeing after it posted no January orders for the first time in decades. ANA's order includes 11 787-10 stretch versions and four shorter 787-9s.

  • U.S. FAA agrees to pay $90,000 to whistleblower who disclosed unqualified flight safety inspectors
    Reuters

    U.S. FAA agrees to pay $90,000 to whistleblower who disclosed unqualified flight safety inspectors

    The Federal Aviation Administration (FAA) agreed to pay $90,000 (£69,423) to an aviation safety inspector who faced retaliation for raising concerns about unqualified flight safety inspectors, a U.S. agency said Monday. The U.S. Office of Special Counsel (OSC) said the whistleblower aviation employee disclosed flight inspectors were certifying pilots and conducting safety "check rides" even though they lacked necessary formal training and certifications.

  • Boeing scours idle 737 MAX plant for industrial snags
    Reuters

    Boeing scours idle 737 MAX plant for industrial snags

    Insiders note an "eerie" calm at Boeing Co's 737 MAX factory, formerly a bustling hub that has helped fuel the aviation industry's record growth over the last two decades. Weeks after halting production of the 737 MAX, which has been grounded for almost a year over fatal crashes, Boeing is seizing on the lull to conduct an overhaul at its Seattle-area factory to curb inefficiency, improve quality and ease the plane's re-entry to the market, four people familiar with the matter said. Backed by engineers from roughly a dozen suppliers such as fuselage maker Spirit AeroSystems and robot maker Electroimpact Inc, Boeing is fixing inventory management, upgrading automated tooling, and addressing "high-defect" areas, three of them said.

  • Warren Buffett Flashes ‘Urgent’
    Bloomberg

    Warren Buffett Flashes ‘Urgent’

    (Bloomberg Opinion) -- Warren Buffett says he’s in the “urgent zone.” It’s the folksy billionaire’s way of calling himself old. But even as Buffett approaches 90, the spotlight-loving chairman and CEO of Berkshire Hathaway Inc. isn’t ready just yet to talk about who will run his giant company when he’s gone. He still has more to say, and more to do — and that could make for an interesting year ahead.Buffett’s annual letter of intrigue arrived Saturday morning, a roundup of thoughts that the Oracle of Omaha has been publishing for six decades. It’s evolved over time into what reads like a love letter to shareholders, to insurance float — the lucrative gift that keeps on giving at Berkshire — and to America as a whole, while taking the occasional jab at Wall Street’s fee-giddy bankers and anyone who thinks Ebitda is an honest profit gauge. Lately, he’s also lamented the lack of cheap takeover targets. The company’s last splashy acquisition was in 2015, when it struck a $37 billion deal for airplane-parts supplier Precision Castparts. Berkshire had $128 billion of cash as of December, about the same level as the previous quarter and many billions more than Buffett would like to see sitting in a bank. The letter, one of two major yearly events for Berkshire investors and Buffett groupies (the other is the shareholder meeting each May) has become more condensed in recent years. But more important to readers is what’s written between the lines — hints of a major deal and signs that the world’s most celebrated businessman is about to step aside. I suspect the former will come before the latter, though not even Buffett can truly know.As mentioned, Buffett will turn 90 this summer, and his right-hand man Charlie Munger is 96. His letter contained an anecdote about a friend from his past who, at the relatively ripe age of 80-something, kept receiving requests from a local newspaper for biographical data so that it could prep the man’s obituary. The request was marked “URGENT.” “Charlie and I long ago entered the urgent zone,” Buffett wrote, assuring shareholders that their company is “100% prepared” for the sad day of their departure and even sharing some details about his will. In my decade covering Berkshire, it’s the most I can remember Buffett discussing what will happen when he’s gone.Over 12 to 15 years after his death, Buffett’s class A shares will be converted into B shares and distributed to various charities; the executors and trustees are otherwise instructed not to sell any Berkshire stock, no matter what. That’s putting a lot of faith in the next CEO, whoever it is. Buffett’s still keeping hush about his succession plans. But in a first this year, he said that shareholders can direct questions directly to his lieutenants, Greg Abel and Ajit Jain, at the May investor meeting. It’s something I suggested Berkshire should start doing at last year’s meeting, and indeed Buffett did hand Abel the mic in a rather symbolic, if impromptu, moment during the Q&A session. Not long ago, Abel’s title was expanded from head of Berkshire Hathaway Energy to vice chairman of all the company’s various operations — except for insurance, which is overseen by Jain. Notably, this year’s letter signaled a desire to invest more of the energy division’s retained earnings to take on large utility projects. He said Berkshire’s operations in the Omaha-based company’s neighboring state of Iowa will be wind self-sufficient by next year thanks to investments in wind turbines, which have helped to keep rates lower than the competition as profits soar. Berkshire Hathaway Energy and BNSF — the railroad Berkshire bought in 2009 — together earned $8.3 billion last year, making them two of the biggest contributors to profit. Abel’s rising profile, along with the emphasis on energy, leads me to wonder whether he’s not only being groomed to take over for Buffett, but also whether Abel could soon make his own M&A splash. Separately, Todd Combs, who manages some of Berkshire's stock-market portfolio, was recently tapped to be CEO of its Geico insurance business. Despite his dual-function sparking succession curiosity, he didn't get a shout-out in the letter.Buffett’s letter always includes a rant on the topics du jour, and this year’s was corporate governance. He penned a section on the “vexing problem” of subservient corporate boards made up of overpaid aging directors, especially those who don’t tap into their own savings to buy shares in the companies they serve. Of course, Berkshire is guilty of some of that. The average age of its board is 74 (including three nonagenarians). Buffett’s celebrity and track record has also allowed him to skirt many of the corporate governance customs expected of other CEOs, such as quarterly earnings calls, more detailed filings and returning cash to shareholders. His successor may not be given so much leeway, especially not with $128 billion sitting around. Reading that finger-wagging section, it was hard not to think of Boeing Co. and General Electric Co. — one company that was once seen as Buffett-investment quality, and another that in many ways tried to be like Berkshire. The downfall of each has been a devastating display of what can happen when leadership isn’t held to account, and I imagine that’s the sort of thing Buffett had in mind when he was writing. Then again, his investment in Kraft Heinz Co. is almost the pot calling the kettle black. Kraft Heinz juiced Ebitda by irresponsibly under-investing in its business — which goes completely against the Buffett way — and all the while it happened under Buffett’s nose. Berkshire is the largest shareholder, and while the Kraft Heinz holding is carried at $13.8 billion on its balance sheet, it had a market value of only $10.5 billion as of Dec. 31 (and is worth even less than that now).Buffett only reveals what he wants to, and it’s clear that succession is on his mind, as is his unending hunger for deals. Is it urgent enough for him to strike soon? To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    US Treasury's Mnuchin: Tax certainty needed on global basis

    U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a global basis and that the OECD was very close to consensus on a framework for minimum corporate tax. "You cannot have in a global economy different national tax systems that conflict with each other," Mnuchin told an economic conference in Saudi Arabia, which is hosting finance leaders of the world's 20 largest economies. "The good news is we're very close to a consensus on pillar 2," he said, referring to OECD tax reform talks on an international framework for minimum corporate tax.

  • Boeing finds debris in fuel tanks of many undelivered 737 MAX jets
    Reuters

    Boeing finds debris in fuel tanks of many undelivered 737 MAX jets

    Boeing found debris in the fuel tanks of about 35 aircraft, a company spokesman confirmed on Friday. A person familiar with the matter told Reuters that more than 50% of the undelivered 737 MAX jets inspected thus far have had debris found in them.

  • Federal prosecutors probing if Boeing pilot knowingly lied to FAA - NYT
    Reuters

    Federal prosecutors probing if Boeing pilot knowingly lied to FAA - NYT

    Boeing said it was cooperating with the U.S Department of Justice investigation. The prosecutors have questioned several Boeing employees in recent months, focusing on whether Mark Forkner, a top pilot at the company, intentionally lied to the regulator about the nature of new flight control software on the jet, according to the report. A lawyer for Forkner did not immediately respond to a Reuters request for comment.

  • Federal prosecutors probing if Boeing pilot knowingly lied to FAA: NYT
    Reuters

    Federal prosecutors probing if Boeing pilot knowingly lied to FAA: NYT

    Boeing said it was cooperating with the U.S Department of Justice investigation. The prosecutors have questioned several Boeing employees in recent months, focusing on whether Mark Forkner, a top pilot at the company, intentionally lied to the regulator about the nature of new flight control software on the jet, according to the report. A lawyer for Forkner did not immediately respond to a Reuters request for comment.

  • French Economy Leans on Services as Manufacturing Shrinks
    Bloomberg

    French Economy Leans on Services as Manufacturing Shrinks

    (Bloomberg) -- France’s services sector drove economic growth this month, as factories grappled with issues including the coronavirus outbreak and the discontinuation of Boeing’s 737 Max airplane.While the Purchasing Managers Index from IHS Markit showed manufacturing back in contraction, services drove an unexpected pickup in overall momentum. The news gave the euro a modest lift, and it was up 0.1% to $1.08 as of 9:18 a.m. Paris time.The data highlight the euro zone’s split economy. European Central Bank Vice President Luis de Guindos said on Thursday that the strong labor market is bolstering domestic consumption and fending off global weakness. The worry is how long that can last.France’s composite PMI climbed to 51.9, beating economists forecasts. A gauge for manufacturing slipped below 50, signaling a contraction for the first time since the middle of last year.Industrial orders were hit particularly hard by a drop in international demand. A pause in Boeing’s production of its single-aisle jet following two fatal crashes has come as a shock to French suppliers.In addition, the coronavirus outbreak in China has forced many businesses to shutter their operations in the country.The impact of the virus is hitting hardest in Asia. Reports Friday showed manufacturing in Australia and Japan fell while early export orders for South Korea showed a slump in Chinese demand. In China itself, car sales sank 92% in the first half of February.The French PMI report showed companies are still optimistic over the next 12 months, supported by plans for new product launches expectations for a demand pickup.Markit will publish PMIs for Germany and the euro area later this morning, with both forecast to show a slight deterioration in February.(Updates with euro, Asian surveys starting in second paragraph)To contact the reporter on this story: Carolynn Look in Frankfurt at clook4@bloomberg.netTo contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.netFor 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.

  • U.S. labor market remains strong; manufacturing likely stabilizing
    Reuters

    U.S. labor market remains strong; manufacturing likely stabilizing

    The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. There was encouraging news on the struggling manufacturing sector, with other data on Thursday showing factory activity in the mid-Atlantic region accelerated to a three-year high in February, likely as tensions in the 19-month trade war between the United States and China diminished. Washington and China signed a Phase 1 trade deal in January.

  • Reuters - UK Focus

    WRAPUP 2-U.S. labor market remains strong; manufacturing likely stabilizing

    The number of Americans filing for unemployment benefits rose modestly last week, suggesting sustained labor market strength that could help to support the economy amid risks from the coronavirus and weak business investment. There was encouraging news on the struggling manufacturing sector, with other data on Thursday showing factory activity in the mid-Atlantic region accelerated to a three-year high in February, likely as tensions in the 19-month trade war between the United States and China diminished. Washington and China signed a Phase 1 trade deal in January.

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