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Boeing 737 MAX certification extension not in current defense bill - sources
By: David Shepardson | October 11, 2022
WASHINGTON (Reuters) - A U.S. Senate amendment to extend a December deadline for Boeing (NYSE:BA) Co to win regulatory approval for the 737 MAX 7 and MAX 10 jetliners is not part of the latest version of an annual defense bill, according to sources and documents seen by Reuters.
Late last month, Republican Senator Roger Wicker proposed extending the deadline for the U.S. planemaker to win approval for the two new 737 variants until September 2024.
Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service. Wicker had sought to attach the measure to the version of the defense bill that was filed on Tuesday.
The requirements were adopted by Congress as part of certification reform passed after two fatal 737 MAX crashes killed 346 people and led to the bestselling plane's 20-month grounding.
Wicker, who is the top Republican on the Senate Commerce Committee, did not immediately comment.
There are other opportunities to make changes to the defense bill and an extension could be potentially attached to other measures Congress will consider before the end of the year.
On Friday, the union representing about 10,000 Southwest Airlines (NYSE:LUV) pilots told Reuters it supports the extension, while the Allied Pilots Association representing 15,000 American Airlines (NASDAQ:AAL) pilots said it opposes it.
Both American and Southwest fly the MAX 8. Southwest has ordered 192 MAX 7 planes. Boeing has an estimated 1,000 orders and commitments for MAX 7 and 10s.
Boeing argues it is safer to have one common 737 cockpit alerting system. "A consistent operational experience across an airplane family is an industry best practice that benefits flight crews and the flying public by enhancing safety and reducing risk," Boeing said.
Reuters reported last week Boeing does not anticipate winning regulatory approval for the MAX 10 before next summer, according to a Federal Aviation Administration letter.
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Boeing orders, deliveries rise in September
By: David Shepardson | October 11, 2022
WASHINGTON (Reuters) - Boeing (NYSE:BA) Co said Tuesday deliveries rose in September to 51 airplanes, while orders rose by 90 as the planemaker continues to see strong demand for new aircraft.
Boeing deliveries last month tied its 51 deliveries in June, when it exceeded the 50-plane threshold for the first time since March 2019.
In August, Boeing deliveries rose to 35 airplanes after it resumed handovers of its 787 Dreamliner after a 15-month delay.
Last month, Boeing had 51 new 737 MAX airplane orders and 45 widebody airplanes, including 14 777s.
In September, Boeing delivered 14 widebody planes, including 7 787s, including three 787-8s to American Airlines (NASDAQ:AAL).
American Airlines told Reuters Friday that since August it has received four 787s from Boeing and all are in service.
Boeing's commercial order backlog now stands at 4,354 planes. Boeing has delivered 328 airplanes in the first nine months of 2022, including 267 737 MAXs.
Boeing faces a December deadline to win regulatory approval for the MAX 10, which is slightly larger than current 737 MAXs in service, as well as for a smaller variant, the MAX 7. Unless it gains an extension from Congress, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service.
Last week, regulators told Congress that Boeing does not anticipate winning approval for the 737 MAX 10 before next summer.
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Q3 2022 EPS Estimates for The Boeing Company (BA) Lowered by Analyst
By: MarketBeat | October 10, 2022
• The Boeing Company (NYSE:BA - Get Rating) - Equities research analysts at Jefferies Financial Group reduced their Q3 2022 earnings per share estimates for Boeing in a report issued on Thursday, October 6th. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aircraft producer will earn $0.24 per share for the quarter, down from their prior estimate of $0.40. Jefferies Financial Group has a "Buy" rating and a $225.00 price target on the stock. The consensus estimate for Boeing's current full-year earnings is ($1.95) per share...
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Boeing Shares Rise on News a 737 MAX Flight Lands in China
By: Investing.com | October 10, 2022
Boeing (NYSE:BA) shares are trading higher after it was reported that flight tracking websites showed a 737 MAX flight by airline MIAT Mongolian touched down in Guangzhou, China, on Monday morning.
The flight potentially represents the first commercial flight to China by the model since the country decided to ground the plane in March 2019.
Airlines in China have not yet put the 737 MAX back into commercial service, while Boeing recently stated it would remarket some of the planes that were initially meant for customers in China.
Despite China not yet recertifying the 737 MAX, it has returned to commercial services in most other markets.
Boeing shares are currently up 3% at $133.68 after hitting a high of $135.74 at the start of the session. Even so, in 2022, the company's stock price has declined more than 34%.
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The Boeing Company (BA) Given Average Recommendation of "Moderate Buy" by Brokerages
By: MarketBeat | October 6, 2022
• The Boeing Company (NYSE:BA - Get Rating) has been given an average recommendation of "Moderate Buy" by the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $218.07...
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Boeing's Investor Day Likely a Milestone - Cowen
By: Investing.com | October 7, 2022
Cowen analysts told investors in a note Friday that Boeing's (NYSE:BA) upcoming investor day is likely a key milestone.
The analysts, who have an Outperform rating and $230 per share price target on the stock, said that while Boeing's third quarter may lag consensus, investors will focus on the company's Investor Day and its free cash flow potential when things have "normalized."
"BA's Investor Day will review each of BA's three segments and its longer-term potential. This should include comments on what 'normalized' results could look like after BA gets beyond 737/787 inventory burnoff, 737/787 compensation costs, abnormal 787/777x production costs, with a return to normal levels of PDPs and payables," wrote the analysts, who also noted the stock remains the firm's top pick.
On deliveries, the analysts said Cirium data suggests Boeing delivered 39 737s in September, its second-best month of the year, topping the A320's 36 deliveries and reversing weak June and August 737 shipments. However, 737 output was lackluster, they added.
"Based on the light est. September deliveries, we look for Q3 revenue (report on 10/26) of $16.7B vs. Street's $18.2B and a 5¢/share loss vs. Street's initial 17¢ gain. Because 737/787 production looks like it was even lighter than deliveries, paring inventory, we still think cash flow can move into the black, but near $1.1B vs. Street's $1.6B. n the Q3 call, BA is apt to address supply chain/labor issues, Q4 trends, and 2023 'color,' including pension swings, which are adjusted out in the calculation of 'core' EPS," the analysts added.
Boeing shares are down over 2% Friday.
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Exclusive-Boeing does not expect FAA approval for MAX 10 before summer 2023 -letter
By: David Shepardson | October 3, 2022
WASHINGTON (Reuters) - Boeing (NYSE:BA) Co does not anticipate winning regulatory approval its 737 MAX 10 before next summer, according to an letter from the Federal Aviation Administration (FAA) sent on Monday.
Boeing faces a December deadline to win approval for the MAX 10 as well as another 737 variant, the MAX 7. Without an extension, Boeing must meet new modern cockpit-alerting requirements that could significantly delay the planes' entry into service.
"With regard to the 737-10, Boeing's current project plan timeline has the 737-10 receiving an amended type certificate no sooner than summer 2023," two sources quoted acting FAA Administrator Billy Nolen as saying in a letter to Senator Roger Wicker, the top Republican on the Senate Commerce Committee.
The FAA, Boeing and Wicker's office declined to comment.
The letter raises questions about when Boeing may be able to deliver MAX 10s after recently booking major orders from Delta Air Lines (NYSE:DAL) and other carriers.
Last week, Wicker proposed extending the deadline for Boeing to win approval for the two new variants until September 2024 and hopes to attach the proposal to an annual defense bill. But it is not clear if the proposal will gain approval from Congress.
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BA Boeings weekly chart looking suspect
By: TrendSpider | September 30, 2022
• $BA Boeings weekly chart looking suspect.
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Boeing (BA) Stock Bounces From Recent Tumble
By: Schaeffer's Investment Research | September 28, 2022
• Is Boeing stock in free-fall?
• Shares of Boeing took a 20% dive over the last month
The Boeing Company (NYSE:BA) is an American aerospace and defense technology company that manufactures and services commercial and military aircrafts in over 150 countries. Boeing also provides defense products and space systems, including rockets, satellites, telecommunications equipment, and missiles. At last check, BA is trading up 4.3% at $132.96.
At the end of last month, The Boeing Company announced its delivery of the first of 32 of the 787 Dreamliners ordered by Europe’s largest airline, Lufthansa Group. Additionally, the European company awaits orders for 20 of the 777-9 passenger airplanes and seven of the new 777-8 Freighter. More recently, the company on Thursday was said to have to pay over $200 million to settle charges made by the U.S. Securities and Exchange Commission (SEC) over misleading investors on the safety risks involved with its 737 MAX jets following the crashes. Former CEO Dennis Muilenburg, meanwhile, will have to pay $1 million in the settlement.
Boeing stock price has decreased about 39% over the past 12 months and BA is currently trading down 43% since peaking at a 52-week high of $233.94 last November. Boeing stock price has also dropped 33% year-to-date.
Moreover, Boeing stock offers a relatively good valuation, considering how far off the company's figures remain from before the pandemic. BA currently trades at a forward price-earnings ratio of 25.51 and a price-sales ratio of 1.28. Nonetheless, the aerospace and defense technology company now must deal with a balance sheet that holds $57.2 billion in total debt and just $11.45 billion in cash. BA will also need to increase its revenues by nearly $16 billion and its net income by about $4.6 billion in order to return to its fiscal 2019 figures.
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Boeing (BA) 130 is some support, choppy mess to 120 under that..
By: Options Mike | September 25, 2022
• $BA 130 is some support, choppy mess to 120 under that..
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Boeing (BA) Stock Sinks Amid $200 Million 737 MAX Settlement
By: Schaeffer's Investment Research | September 23, 2022
• Boeing will have to pay $200 million to settle SEC charges pertaining to the 737 MAX crashes
• The company's former CEO Dennis Muilenburg will have to pay $1 million as part of the settlement
Boeing Co (NYSE:BA) has run into more problems with its 737 MAX jets, which were involved in two fatal crashes in October 2018 and March 2019. Late Thursday, it was reported that the company will have to pay over $200 million to settle charges made by the U.S. Securities and Exchange Commission (SEC) over misleading investors on the safety risks involved with its 737 MAX jets following the crashes. Former CEO Dennis Muilenburg, meanwhile, will have to pay $1 million in the settlement.
The stock has shed 2.4% at trade at $135.43 in response, set to hit a more than two-month low at the open. The security has been on a jag lower since mid-August, when it ran into pressure near the $170-$175 region. This is coincidentally home to BA's pre-bear gap lows from March 2022 and November 2020. The 180-day moving average also swooped in as a ceiling, sending the shares to a 31% year-to-date deficit.
We covered Boeing stock about a month back, warning investors to use caution before buying into the stock's early August rally. One thing we noted was BA's 14-day Relative Strength Index (RSI), which was sitting at an "overbought" 72. In little over a month the equity plummeted into "oversold" territory, as its RSI now sits at an extremely low 26.
Short-term bears have hopped on Boeing stock's plummet. The security's Schaeffer's put/call open interest ratio (SOIR) of 1.11 stands higher than 99% of readings from the past year. In other words, these traders have rarely been more put-biased.
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?Boeing and Former CEO to Pay $200 Million and $1 Million to Settle SEC Charges
By: Davit Kirakosyan | September 22, 2022
Today, The Securities and Exchange Commission charged The Boeing Company (NYSE:BA) and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019.
According to the SEC’s orders, after the first crash, Boeing and Muilenburg knew that the Maneuvering Characteristics Augmentation System (MCAS) posed an ongoing airplane safety issue, but nevertheless assured the public that the 737 MAX airplane was safe. Following the second crash, the company and Muilenburg misled investors by providing assurances that there were no slips or gaps in the certification process with respect to MCAS, despite knowing about serious safety concerns.
The company and Muilenburg consented to cease-and-desist SEC orders that include penalties of $200 million and $1 million, respectively.
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United cancels some flights after failing to perform some Boeing 777 inspections - FAA
By: David Shepardson | September 20, 2022
(Reuters) - United Airlines removed 25 of its Boeing (NYSE:BA) 777-200 airplanes from service this week after discovering it had failed to perform required inspections on the wing leading-edge panels.
The Federal Aviation Administration (FAA) said the airline had disclosed the issue to the agency after an internal audit and proposed a plan to complete the inspections. United said on Tuesday it had canceled around 18 flights on Monday night and Tuesday morning to conduct the inspections but did not expect to cancel additional flights because of the issue.
"We've completed inspections on 10 of those aircraft, and are working with the FAA to return others to service while inspections are ongoing over the next two weeks," United said Tuesday.
The FAA said it was reviewing United's inspection plan "as well as looking into the circumstances that led to the missed inspections."
In May, the FAA cleared United's 52 Boeing 777 planes equipped with Pratt & Whitney (PW) 4000 engines to return to service.
The jets were grounded after a United flight to Honolulu suffered engine failure and showered debris over nearby cities and made an emergency landing in Denver in February 2021. No one was injured and the plane safely returned to the airport.
United said Tuesday the wing leading-edge panel inspections of some of those 777-200s are not related to engines or recent engine work. The said the inspections in most cases can be completed overnight.
The inspection issue was reported earlier by the Wall Street Journal.
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The Boeing Company (BA) Sees Significant Decrease in Short Interest
By: MarketBeat | September 19, 2022
• The Boeing Company (NYSE:BA - Get Rating) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 8,880,000 shares, a decrease of 15.1% from the August 15th total of 10,460,000 shares. Based on an average daily trading volume, of 8,570,000 shares, the days-to-cover ratio is presently 1.0 days...
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$BA 350K share #darkpool print at $145.55
By: Money Flow Mel | September 20, 2022
• $BA 350K share #darkpool print at $145.55
There was a smaller one earlier ~ 142K at $146.45
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Best Performer in the $DJIA is Boeing Company. $BA
By: Thom Hartle | September 20, 2022
• Today (8:33 CST), the best performer in the $DJIA is Boeing Company. $BA.
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Boeing Co. (BA) Wouldn't chase this short here, out of the BB and extended
By: Options Mike | September 18, 2022
• $BA Wouldn't chase this short here, out of the BB and extended. Some Support @ 140 then 135.
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China plans sanctions on CEOs of Boeing Defense, Raytheon over Taiwan sales
By: Reuters | September 16, 2022
BEIJING (Reuters) - China will impose sanctions on the chief executives of Boeing (NYSE:BA) Defense and Raytheon (NYSE:RTN) over their involvement in Washington's latest arms sales to Taiwan, a foreign ministry spokesperson said on Friday.
The sanctions on Boeing Defense, Space, and Security CEO Ted Colbert and Raytheon Technologies (NYSE:RTX) Corp boss Gregory Hayes are in response to the U.S. State Department approval on Sept. 2 of the sale of military equipment to Taiwan.
Those sales include 60 anti-ship missiles and 100 air-to-air missiles, of which the respective principal contractors are Boeing Defense, a division of Boeing Co , and Raytheon.
Colbert and Hayes will be sanctioned "in order to protect China's sovereignty and security interests" said foreign ministry spokesperson Mao Ning citing "their involvement in these arms sales."
Mao did not elaborate on what the sanctions would entail or on how they would be enforced. Neither company sells defense products to China, but both have robust commercial aviation businesses there.
U.S. defense procurement rules generally prohibit Chinese-origin content, so sanctions have had no impact on the U.S. military.
"The Chinese side once again urges the U.S. government and relevant entities to... stop selling arms to Taiwan and U.S.-Taiwan military contacts."
The Pentagon announced the package in the wake of China's aggressive military drills around Taiwan following a visit last month by U.S. House of Representatives Speaker Nancy Pelosi, the highest-ranking U.S. official to travel to Taipei in years.
China has previously sanctioned Raytheon, Boeing Defense, and unspecified individuals involved in arms sales to Taiwan.
A Raytheon spokesman declined to comment. Boeing declined to comment immediately, but on Thursday said it plans to remarket some airplanes that it had earmarked for Chinese airlines as geopolitical tensions have delayed deliveries.
In December 2021, China approved the return of Boeing's 737 MAX to service after it had been grounded following two accidents involving the airliner that killed 346 people.
Despite the approval, Chinese airlines have not resumed flying the MAX and have not accepted deliveries of new MAX aircraft. The U.S. government has previously accused the Chinese government of blocking tens of billions of dollars of MAX deliveries to China.
Before the MAX was grounded, Boeing was selling a quarter of the planes it built annually to Chinese buyers, its largest customers.
Raytheon sells to China through its United Technologies engine business.
Friday's announcement marks the first time Beijing identified and imposed sanctions against individuals from these companies.
Beijing considers the self-ruled island of Taiwan a wayward province it has vowed to bring under control, by force if necessary.
Taiwan rejects China's sovereignty claims, saying only its people can decide their future, and vows to defend itself if attacked.
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Boeing deliveries rose in August as it resumed 787 handovers
By: David Shepardson | September 13, 2022
WASHINGTON (Reuters) - Boeing (NYSE:BA) jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay.
Boeing said monthly deliveries included 27 737 MAX jets, two 787s and five freighters. That raised the total MAX deliveries this year to 240 jets and overall deliveries to 277 through August.
Boeing deliveries in July had fallen to a five-month low of 26 airplanes, highlighting pressure on global supply chains.
Boeing also on Tuesday reported 30 new gross orders for airplanes, including 13 737 MAX planes and reported 26 net new orders as four 737 MAXs were debooked including two for Chinese-based Okay Airways.
Boeing in August delivered its first 787s since May 2021 -- a 787-9 Lufthansa and a 787-10 to KLM, part of Air France-KLM. But two 787s for American Airlines (NASDAQ:AAL) that were "contractually delivered" in August were not yet booked as delivered because Boeing is performing some pre-scheduled post-delivery customization.
Boeing's gross orders net of cancellations rose to 338 for the year.
In July, the Federal Aviation Administration(FAA) approved Boeing's inspection and retrofit plan needed to meet certification standards. In September 2020, the FAA said it was investigating manufacturing flaws in some 787 jetliners.
Boeing has about 120 787s awaiting delivery. The FAA said it "will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery." Typically, the FAA delegates airplane ticketing authority to the manufacturer, but in some instances, like the 737 MAX, it has retained responsibility for approving each new airplane.
American Airlines has around 40 additional 787s on order. Two of the new 737 MAX orders in August were for American, Boeing said.
In January, Boeing disclosed a $3.5 billion charge due to 787 delivery delays and customer concessions, and another $1 billion in abnormal production costs stemming from production flaws and related repairs and inspections.
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The Boeing Company (BA) Receives Average Recommendation of "Moderate Buy" from Analysts
By: MarketBeat | September 11, 2022
• The Boeing Company (NYSE:BA - Get Rating) has received a consensus recommendation of "Moderate Buy" from the nineteen research firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $220.06...
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Boeing (BA) Used the 150 area as support and failed at the 21D this week
By: Options Mike | September 10, 2022
• $BA used the 150 area as support and failed at the 21D this week.
Just not in play right now.
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Boeing (BA) PT Raised to $233.00 at Morgan Stanley
By: MarketBeat | September 8, 2022
• Boeing (NYSE:BA - Get Rating) had its price objective hoisted by Morgan Stanley from $215.00 to $233.00 in a research report issued to clients and investors on Thursday, The Fly reports. Morgan Stanley's price objective suggests a potential upside of 49.41% from the company's previous close...
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Boeing 250K share #darkpool print at $152.60
By: Money Flow Mel | September 7, 2022
• $BA 250K share #darkpool print at $152.60.
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Boeing Co. (BA) Flag broke down, 100D and 150 some support
By: Options Mike | September 5, 2022
• $BA Flag broke down, 100D and 150 some support, then 140 if we keep selling.
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Boeing Rips Off America, Again
By: 24/7 Wall St. | September 4, 2022
The Artemis I mission to the moon is among the greatest debacles in NASA history. The launch of the massive rocket known as the Space Launch System rocket was delayed twice this past week. The second time was due to hydrogen leakage in an inlet.
The next launch will be put off for weeks, or perhaps longer. That is hard to believe because the cost to design and build the system from inception until 2025 will be $93 billion. That is well over budget. The first mission was supposed to be in 2017.
Among the companies which did the most work on the project was the historic bungler of similar work – Boeing. NPR recently reported “The National Aeronautics and Space Administration’s scheduled test launch Monday of a new mega-rocket will give Boeing Co. another chance to prove it can pull off big national projects following past missteps.”
Boeing has been able to build dangerous commercial aircraft and faulty rockets for years and its reputation is in tatters. Its executives have routinely said Elon Musk’s SpaceX rockets are nothing better than toys. In the meantime, SpaceX has launched a number of rockets, some of which were for NASA. Each has come off without a hitch. One has to wonder why SpaceX was not asked to build much of the Artemis I components – or all of them.
The Artemis I mission’s success cannot be understated. The U.S. has not been to the moon for decades. It has fallen behind Russia and China. America led the race for years.
One reason to explore the Moon is that it may have valuable minerals. Another is that it could be a staging area for a trip to Mars. Just important is the prestige of a U.S. return to the Moon, which is an unquantifiable, but critical part of the national identity.
Boeing will be shamed by the press, and many Americans will blame it for the Moon mission failure. The shaming is well placed and should continue.
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Israel to ban Boeing 747s, other 4-engine planes amid environmental concerns
By: Investing.com | September 4, 2022
JERUSALEM - Israel will ban Boeing (NYSE:BA) 747 and similar aircraft with four engines as of March 31, 2023 to reduce noise and air pollution, its airports authority said on Sunday.
As part of a broader plan under development to improve the surrounding environment, the authority said that it had already told airlines they would not be able to land large airplanes at Ben Gurion Airport near Tel Aviv as of the 2023 summer season.
The directive is mainly for cargo aircraft since most, it not all, carriers have stopped using 747 and other four-engine planes on routes to Israel.
Flag carrier El Al has already retired its fleet of 747s and uses twin-engine Boeing 777 and 787 planes on long-haul routes. Competitors also use those Boeing planes or comparable Airbus ones to Ben Gurion, although the 747s are still used by some for cargo.
Operation of aircraft with four engines will be allowed in exceptional cases and only with a special permit.
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Boeing says Israel to buy four air force refuelling planes for $927 million
By: Investing.com | September 1, 2022
JERUSALEM (Reuters) - Israel has signed a $927 million purchase order for four Boeing (NYSE:BA) KC-46A refuelling tankers for its air force, with deliveries due to begin in 2025, the U.S. defence contractor said on Thursday.
Israeli officials have described the tankers as important for planning military operations that could potentially include a long-threatened attack on Iran's nuclear facilities.
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Boeing expects more orders from India as airlines boost capacity
By: Reuters | September 1, 2022
• Planemaker Boeing Co expects Indian airlines to boost their capacity by at least 25% over the next year as demand rebounds quickly in the world’s fastest-growing major market, an executive said on Thursday.
NEW DELHI (Reuters) -Boeing Co expects more orders for its planes from Indian airlines as they boost their capacity to keep pace with rising demand in the world’s fastest-growing major aviation market, an executive said on Thursday.
Airlines in India are expected to increase their capacity by at least 25% over the next year as post-pandemic air travel demand rebounds quickly, and long-term growth to settle at 7% annually, outpacing other top high-growth markets, Boeing said.
The U.S. planemaker expects South Asian airlines to order a total of 2,345 aircraft over the next 20 years.
“I certainly expect more widebody orders and I expect more narrowbody orders from India,” Salil Gupte, president of Boeing India told reporters in New Delhi.
Indian skies are dominated by low-cost carriers including IndiGo, SpiceJet and AirAsia India, with the majority of them operating Airbus narrowbody planes.
Boeing however dominates the country’s widebody market where fare wars and high costs have led to casualties among full-service carriers, including Kingfisher Airlines in 2012 and Jet Airways in 2019.
India’s newest budget carrier Akasa Air, Tata Sons-owned Air India and the Jalan-Kalrock consortium at Jet Airways are giving Boeing hope of clawing back share in the market, with new and potential orders for more planes.
Akasa has 72 Boeing 737 MAX narrowbody planes and Vistara – a joint venture between Singapore Airlines and Tata Group, has six 787 widebody planes on order. Air India and Jet Airways are close to placing new orders.
SpiceJet, Boeing’s biggest customer in India, has 155 MAX planes on order. However, the loss-making airline has been slow in adding planes to its fleet even after the 737 MAX aircraft was cleared for flying by India’s aviation regulator last year following a global ban prompted by two deadly crashes.
While supply chain snags are expected to continue for some time, Gupte said he hoped to “manage customer expectations” and “get them the products they need as quickly as possible”.
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Boeing $BA was just awarded a contract with the US Missle Defense Agency worth a maximum of $5 Billion
By: Stock Market News | August 30, 2022
• Boeing $BA was just awarded a contract with the US Missle Defense Agency worth a maximum of $5 Billion.
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Boeing Co. (BA) 200D is coming down to it, holding in better than the markets so far
By: Options Mike | August 28, 2022
• $BA Messy weak in this one. 200D is coming down to it, holding in better than the markets so far.
No feel on this one, maybe 160 area for support.
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$BA Making another run for it!
By: TrendSpider | August 25, 2022
• $BA Making another run for it!.
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Boeing Co. (BA) Already on the 21D, small gap to fill down to 160
By: Options Mike | August 21, 2022
• $BA Already on the 21D, small gap to fill down to 160.
155 area some support then 150 and the 50D.
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Boeing (BA) Starting to roll over after price was unable to gain any traction above the downtrend from January
By: TrendSpider | August 20, 2022
• $BA Starting to roll over after price was unable to gain any traction above the downtrend from January.
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Boeing (BA) Decent size coming in to the 10/21/22 $145 PUTS
By: Money Flow Mel | August 17, 2022
• $BA Decent size coming in to the 10/21/22 $145 PUTS
above the ask.
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Boeing Co. (BA) 170 needs to clear w/ volume for push to the 200D
By: Options Mike | August 14, 2022
• $BA Stuck, 170 needs to clear w/ volume for push to the 200D
Note that CMF shows money flowing out right now.
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Boeing MACD threatening to breakdown at resistance
By: TrendSpider | August 13, 2022
• $BA MACD threatening to breakdown at resistance.
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A Case to Pump the Brakes on Boeing (BA) Stock
By: Schaeffer's Investment Research | August 12, 2022
• BA promptly ceded that $100 billion market cap level
• Boeing stock is showing a low SVS reading, too
Boeing Co (NYSE:BA) just wrapped up its fourth-straight weekly win, its longest weekly winning streak since October. The big catalyst for this week’s win was the U.S. Federal Aviation Administration (FAA) approving a rework plan to resume 787 deliveries. The aerospace giant’s earnings report in late July saw second-quarter earnings and revenue whiff on expectations, but the stock finished the day 1.9% higher thanks to a dramatic improvement in cash flow.
On Boeings conference call, executives trimmed estimates for 737 MAX deliveries in 2022 and warned that supply-chain constraints have limited the ability to ramp up jet production despite "significant" demand. Despite these sizable headwinds, BA has continued climbing, filling a post-earnings bear gap from late April. After the FAA decision on Monday, BA gapped higher by as much as 7%, and was the most visited ticker page that day on Yahoo! News. An analyst from J.P. Morgan Securities noted "We expect Boeing to emerge from the 737 MAX crisis and begin generating cash in 2022, with the stock being driven by multiple catalysts including the return of the 787, 737 MAX re-certification in China, and increased deliveries.” While these are certainly tailwinds worth recognizing, there are technical areas on BA’s chart that warrant some investor caution.
As Schaeffer’s Senior Market Strategist Chris Prybal identified, Monday’s breakout helped Boeing stock reclaim its $100 billion market cap level. Per the chart below, Boeing’s peak market cap was hit on March 1, 2019, at $250 billion, or 2.5 times its current level. Other areas of note as seen on the chart: $150 billion represents BA’s pandemic highs, while $100 billion was modest resistance dating back from late 2013 to late 2015. These round-number levels come into play as milestones, where share price levels are assigned more psychological meaning than others. That’s not to say they are bullish or bearish trendlines, but instead areas of greater-than-usual importance, where stalling or toppling around these levels could dictate future price action.
On Thursday, BA promptly ceded that $100 billion market cap level, and at last check it now sits at $98.9 billion. For perspective, that’s good for 25th out of the 30 Dow components, and third among sector peers in the aerospace industry. While the stock oscillates between this key round number, bear in mind BA’s 14-Day Relative Strength Index (RSI), was last seen at an overbought 72.
There is also a historically bearish trendline that Boeing is within one standard deviation from: BA’s 140-day moving average. According to Schaeffer's Senior Quantitative Analyst Rocky White's latest study, the security has seen five similar signals over the past three years and was lower one month later 80% of the time, averaging a 10% loss for that period. A comparable move from the stock's current perch of $166.38 would place it just below $150.
One final note for prospective options traders; Boeing stock’s incredibly low Schaeffer's Volatility Scorecard (SVS) of just 24 out of 100. This scorecard is used to identify which underlying stock options have historically had underpriced or overpriced options. Low SVS readings indicate consistently realized lower volatility than its options have priced in -- pointing to the possibility of BA being a potential premium-selling candidate rather than a premium-buying candidate.
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Boeing deliveries slip to five-month low in July
By: Reuters | August 9, 2022
• Boeing jetliner deliveries fell to a five-month low of 26 airplanes in July, highlighting pressure on global supply chains as it prepares to resume deliveries of the 787 Dreamliner.
(Reuters) – Boeing jetliner deliveries fell to a five-month low of 26 airplanes in July, highlighting pressure on global supply chains as it prepares to resume deliveries of the 787 Dreamliner.
The U.S. planemaker said monthly deliveries included 23 737 MAX jets and three wide-body freighters, bringing MAX deliveries so far this year to 212 jets and total deliveries to 242.
The figures do not include the imminent resumption of 787 Dreamliner deliveries after a year-long suspension over production issues.
The U.S. government on Monday approved the first 787 delivery since May 2021, people briefed on the matter said.
July’s Boeing data does, however, underscore industrial snags testing the aerospace industry after Airbus reported lower July deliveries on Monday.
At roughly half the 51 handovers seen in the previous month, Boeing’s July deliveries suffered the sharpest sequential drop since before the 737 MAX was cleared to return to service in December 2020, following a safety grounding.
Deliveries have nonetheless fluctuated significantly this year and June had seen a sharp swing towards the upside.
Chief Financial Officer Brian West anticipated a “light” July when he outlined three worries for the 737 during earnings last week: supply chains, delays in getting planes out of storage and an effective freeze on deliveries to China.
He told analysts that Boeing would not fully make up for lower-than-expected first-half deliveries in the second half and added: “We’ll continue to experience monthly variability”.
New orders
Boeing, meanwhile, saw a surge of new business in July as it officially booked orders announced at the Farnborough Airshow, where it focused on shoring up the 737 MAX 10, as the aircraft faces uncertainty over a certification deadline.
Boeing confirmed orders for a total of 125 MAX from Delta Air Lines and Qatar Airways as well as two 777 freighters for Air Canada. It added fresh orders for two MAX from American Airlines and a 777 freighter from FedEx.
That brings Boeing’s gross orders to 130 airplanes for July and 416 for the year so far.
After cancellations of four planes in July, Boeing posted core net orders of 126 planes in July and 312 for the year to date.
Airbus earlier reported comparable year-to-date net orders of 656 airplanes after a major deal with China..
After further accounting adjustments, Boeing said it had reached adjusted net orders of 362 planes so far this year.
The adjustments reflect a more positive view on some outstanding contracts as travel demand returns.
Boeing restored a net total of 31 planes to its normal operational backlog in July after they had previously been set aside in a category reserved for jets unlikely to be delivered.
Airbus carries out similar quality adjustments to its backlog annually rather than monthly, and logs them in terms of value rather than volume, so a comparison is not available.
Boeing has sold a total of 5,206 jets that are still waiting for delivery in coming years, or 4,370 after including the accounting adjustments for planes seen unlikely to be delivered.
(Reporting by Tim Hepher Additional reporting by Abhijith Ganapavaram and David Shepardson; Editing by Mark Potter)
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FAA says it expects Boeing resume 787 deliveries in days
By: David Shepardson | August 8, 2022
WASHINGTON (Reuters) -The Federal Aviation Administration (FAA) on Monday said that it expects Boeing (NYSE:BA) to resume deliveries of its 787 Dreamliner in the coming days after the regulator found the manufacturer made necessary changes to meet certification standards.
Boeing halted deliveries in May 2021.
American Airlines (NASDAQ:AAL) is likely to receive the first 787 airplane delivered by Boeing since the halt, sources said. American Airlines said on a July earnings call it expects to receive nine 787s this year, including two in early August.
The FAA had earlier approved Boeing's plan for specific inspections to verify the airplane meets requirements and that all work has been completed.
Boeing has presented to the FAA for approval the first of about 120 787s awaiting delivery. The FAA said it "will inspect each aircraft before an airworthiness certificate is issued and cleared for delivery."
Boeing has faced production issues with the 787 for more than two years. In September 2020, the FAA said it was investigating manufacturing flaws in some 787 jetliners.
Boeing suspended deliveries of the 787 after the FAA raised concerns about its proposed inspection method. The FAA had previously issued two airworthiness directives to address production issues for in-service airplanes and identified a new issue in July 2021.
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