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Aug. 22, 2019, 10:02 a.m. EDT

Boeing's stock powers up to pace Dow gainers, adds about 62 points to Dow's rally

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By Tomi Kilgore

Shares of Boeing Co. /zigman2/quotes/208579720/composite BA +1.10% powered up 2.7% in morning trading, to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA +0.14% gainers, after an upbeat note from Cowen analyst Cai von Rumohr, who said the Federal Aviation Administration certification flight for the 737 Max plane could be 4-to-6 weeks off. The stock's price gain of $9.14 was adding about 62 points to the Dow, which was up 138 points. The certification flight, which comes after the 737 Max was grounded earlier this year after two crashes, would be "a key milestone for the stock," von Rumohr wrote. He said the fact that Boeing hasn't pushed out its "early Q4" recertification target, despite saying it could possibly shut production if the grounding drags into 2020 and after stressing uncertainty over the regulatory process, suggests "no news is good news." Von Rumohr said Boeing is his top pick in the aerospace and defense sector. Boeing's stock has now run up 9.0% in the six sessions since it closed at a 7 1/2-month low on Aug. 14. It has gained 8.3% year to date, while the Dow has advanced 12.9%.

/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 379.76
+4.13 +1.10%
Volume: 3.63M
Sept. 13, 2019 6:30p
P/E Ratio
44.47
Dividend Yield
2.16%
Market Cap
$213.70 billion
Rev. per Employee
$660,961
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,219.52
+37.07 +0.14%
Volume: 255.26M
Sept. 13, 2019 4:56p
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