4:57 a.m. June 1, 2021
- By Tomi Kilgore
Boeing stock rallies to pace the Dow's early gainers, after Cowen turns bullishShaers of Boeing Co. rallied 2.0%, enough to pace the Dow Jones Industrial Average's premarket gainers, after Cowen analyst Cai von Rumohr turned bullish on the aerospace and defense giant, citing improving air traffic and a brighter outlook regarding regulatory oversight. Von Rumohr raised his rating on Boeing to outperform, after being at market perform since January 2020, while boosting her price target to $290 from $240. Von Rumohr said "fast improving air traffic" is bolstering demand for Boeing aircraft, and while lingering oversight from the Federal Aviation Administration and the timing of approval of Boeing's MAX planes in China will limit the upside to 2021 financial results, he believes the outlook for the next three years is brighter. He said Boeing's second-quarter results could "miss" expectations, given the China approval delay, but he doesn't believe it's in the U.S. or China's interest to hold trade hostage, so he doesn't see the situation as a long-term overhang. The stock's implied price gain would add about 32 points to the Dow's price, while Dow futures gained 251 points, or 0.7%.
3:09 a.m. Nov. 18, 2020
- By Tomi Kilgore
Boeing's stock surges, to add about 80 points to the Dow, on expected FAA approval of 737 MAX return to serviceShares of Boeing Co. shot up 5.8% in early trading Wednesday, enough to pace the Dow Jones Industrial Average's premarket gainers, as the Federal Aviation Administration the return to service of aerospace giant's 737 MAX jets, which have been grounded since March 2019. The stock's implied price gain would add about 80 points to the Dow's price, while Dow futures rose 122 points, or 0.4%. Analyst Robert Stallard at Vertical Research Partners said this pending approval is the "cherry on the cake" for Boeing, following on from good news on the U.S. election and progress on coronavirus vaccines. Boeing's stock is on track to open at the highest price seen during regular-session hours since June 9. The stock has tumbled 35.5% year to date through Tuesday, while the Dow has gained 4.4%.
6:45 a.m. July 28, 2020
- By Claudia Assis
Boeing earnings preview: Can the company meet even low expectations? Cash burn, return of 737 Max top list of concernsBoeing is slated to report second-quarter results Wednesday before the bell, giving Wall Street a clearer picture of the coronavirus pandemic’s impact on a company already beset with problems of its own making.