Boeing faces significant issues with the Starliner and Boeing 777X programs, impacting CEO Kelly Ortberg's early tenure. Boeing's 777X program is delayed due to thrust link failures, risking further certification and delivery delays. Boeing has incurred $15.9 billion in costs for the 777X, needing higher production rates to recoup expenses.
Boeing's stock took a beating Tuesday, after Wells Fargo warned investors to get out, as whatever decision the troubled aerospace giant makes on what to do with its cash and debt will likely be bad for the stock.
Boeing's annual free cash flow target of $10 billion may be delayed by about two years to 2027-28 and it would have to raise $30 billion before developing a new aircraft, Wells Fargo said and downgraded the stock.
Boeing has been flying through headwinds for years, and it is missing a substantial upward trend that could have filled its cash coffers and allowed it to invest in future products. Wells Fargo is lowering Boeing to an underperform rating, warning an equity raise is likely.
Starliner is slated to return to Earth empty, while its crew will stay on the International Space Station for a few more months.
Boeing Co (NYSE:BA) is dragging the Dow today, last seen down 7% to trade at $161.62 after Wells Fargo issued a downgrade on the aerospace giant to "underweight" from "equal-weight.
NEW YORK CITY, NY / ACCESSWIRE / September 3, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating the merger between Spirit Aerosystems Holdings, Inc. ("Spirit") (NYSE:SPR) and The Boeing Company ("Boeing") (NYSE:BA). Investors who purchased Spirit and continue to hold to the present are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/SPR.
U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 100 points on Tuesday.
Strange noises that were heard coming from the Boeing Starliner currently docked on the International Space Station (ISS) are not serious, says NASA.
BA to expand its manufacturing facility in Mississippi to produce composite components for executive aircraft.
NEW YORK CITY, NY / ACCESSWIRE / September 2, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating the merger between Spirit Aerosystems Holdings, Inc. ("Spirit") (NYSE:SPR) and The Boeing Company ("Boeing") (NYSE:BA). Investors who purchased Spirit and continue to hold to the present are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/SPR.
The NASA Office of Inspector General faults Boeing for poor quality control building the Space Launch System. A new and improved version of SLS is years late and billions of dollars over budget.