|Bid||0.00 x 1000|
|Ask||0.00 x 1100|
|Day's Range||370.08 - 376.94|
|52 Week Range||292.47 - 446.01|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||42.99|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||8.22 (2.22%)|
|1y Target Est||411.86|
Stock futures: Will the China trade deal spur the stock market to record highs like Apple? Microsoft, Google, Nvidia, Facebook, Visa are near buys.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The European Union made a last-ditch appeal to the U.S. to refrain from triggering retaliatory tariffs over illegal subsidies to Airbus SE, warning of economic harm to both sides and repeating a call for a negotiated solution.European Trade Commissioner Cecilia Malmstrom told her U.S. counterpart, Robert Lighthizer, that his plan to hit $7.5 billion of EU goods ranging from planes to whiskey with duties would compel the EU to apply countermeasures in a parallel lawsuit over market-distorting aid to Boeing Co. U.S. levies would make a negotiated settlement harder to reach, she said.“I strongly believe that imposing additional tariffs in the two aircraft cases is not a solution,” Malmstrom said in an Oct. 11 letter to Lighthizer seen by Bloomberg News. “It would only inflict damage on businesses and put at risk jobs on both sides of the Atlantic, harm global trade and the broader aviation industry at a sensitive time.”The World Trade Organization is due to give final approval for U.S. retaliation in the Airbus case on Monday, allowing tariffs to kick in as planned on Friday.The trans-Atlantic dispute over aircraft aid risks fraying a trade truce struck between the U.S. and EU in July 2018. At the time, both sides pledged to try to scale back commercial barriers and avoid a repeat of tit-for-tat tariffs that began with President Donald Trump’s duties on European steel and aluminum on U.S. national-security grounds.The WTO cases over subsidies to Airbus and Boeing are 15 years old. Because of the calendar, the U.S. is entitled to strike first and the EU would follow suit sometime in 2020.Malmstrom gave no sign in her letter to Lighthizer that an idea floated in some EU circles for quicker European retaliation is gaining ground. The idea weighed was to hit back by invoking an unrelated, older WTO case against a now-defunct U.S. tax break given to companies, including Boeing, via subsidiaries known as foreign sales corporations.Instead, Malmstrom said the EU’s planned countermeasures of $12 billion would be applied “when the time comes on the parallel Boeing case.”Aside from causing economic harm, hastier European retaliation could undermine the EU’s claim to be working to uphold the WTO system that Trump’s protectionism is shaking.“We are ready to negotiate a settlement for both the Airbus and the Boeing case addressing remaining compliance obligations on both sides, putting these cases behind us,” Malmstrom said.To contact the reporter on this story: Jonathan Stearns in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, Tony Czuczka, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This weekend's Barron's cover story examines ways to maximize income in a low-rate environment. Other featured articles discuss a way to play the China trade talks and what a new baby boom means for retail ...
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of his chairmanship of the crisis-hit aircraft manufacturer, keeping him on as chief executive but elevating David Calhoun, its senior independent director, to head the board. In a statement, Mr Calhoun said: “The board has full confidence in Dennis as CEO and believes this division of labour will enable maximum focus on running the business with the board playing an active oversight role.” Boeing would soon appoint a new director “with deep safety experience and expertise” to the board, he added.
(Bloomberg) -- Boeing Co. stripped Chief Executive Officer Dennis Muilenburg of his role as chairman, leaving him little margin for error in his final push to resolve the crisis engulfing the company’s 737 Max jetliner.Separating the CEO and chairman roles will let Muilenburg focus on getting the grounded jet back in the air, Boeing said in a statement Friday. While the board expressed its continued support for Muilenburg, it pledged “active oversight” of his performance, a sign of the pressure he’s under to surmount regulatory hurdles and soothe the safety concerns of customers, pilots and passengers.Lead director David Calhoun, a senior executive at Blackstone Group Inc., will take over as non-executive chairman. Calhoun, 62, a former boss of General Electric Co.’s aviation division, stands out on the board for his deep aerospace experience and has been mentioned in years past as a contender for Boeing’s CEO job.“It provides stability and continuity but also introduces a new approach to leadership,” said Richard Aboulafia, an aerospace analyst at Teal Group. “It’s not a huge move in itself, but it creates the potential for a much bigger move.”Muilenburg, 55, is under increasing scrutiny as the global flying ban on the Max nears the seven-month mark, with little clarity on when Boeing’s best-selling jet will return to service. The planemaker’s reputation and finances have been battered since two Max crashes killed 346 people and prompted a worldwide grounding.The shares were little changed after the close of regular trading in New York, having advanced 1.1% to $374.92 in the Friday session. Boeing slumped after the flying ban began in March, but the stock has climbed 17% since mid-August as investors bet that the Max would soon return to service. That’s the biggest gain on the Dow Jones Industrial Average over that period.‘Full Confidence’The board will soon add a director who will serve on a new safety panel, Calhoun said in the statement. The Aerospace Safety Committee is part of a board-ordered safety push.“The board has full confidence in Dennis as CEO,” he said.Muilenburg, 55, said he was “fully supportive” of the change.“Our entire team is laser-focused on returning the 737 Max safely to service and delivering on the full breadth of our company’s commitments,” he said in the statement. He took the reins as CEO in July 2015 and added the chairmanship in March 2016.Governance ActivistsCorporate-governance activists had already been clamoring to separate the chairman and CEO positions.Boeing opposed a proposal to divide the roles at the annual meeting earlier this year, saying directors should be able to select their leadership structure rather than be bound by an “inflexible policy.” Investors rejected the measure but it won 27% support, up from 20% the year before, including abstentions and non-votes.Shareholder activist John Chevedden filed a proposal Oct. 9 to raise the matter again at Boeing’s 2020 annual meeting. Directors would have the discretion to phase in an independent chairman, “although it would be better to have an immediate transition,” the measure said.The Max’s return continues to slip amid scrutiny from sometimes fractious regulators. Until recent weeks, Boeing had insisted the plane would be cleared early in the fourth quarter. But the Max’s three U.S. operators -- Southwest Airlines Co., United Airlines Holdings Inc. and American Airlines Group Inc. -- have taken the single-aisle jet out of their flight schedules until January.A longer delay would jeopardize Muilenburg’s position as CEO, said Aboulafia.“If they’re on course for re-certification in the fourth quarter as they maintain, then he could hang on,” he said. “If it slips much beyond that, then his job is definitely at risk.”Boeing LiferAn aerospace engineer by training and Boeing lifer, the CEO has served as the company’s public face throughout the Max crisis. That’s made him a target of critics who contend that Boeing was too slow to fully explain the role its flight-control software played in the crashes.Muilenburg will have two critical chances to shape perceptions about his handling of the crisis this month: When third-quarter results are released on Oct. 23 and when he testifies before Congress a week later.Directors already should have insights into the financial results, which analysts anticipate to be dented by unexpectedly low deliveries of the 787 Dreamliner and other aircraft.Boeing’s tally of 63 deliveries, down from 190 shipments a year earlier, was 12 jetliners less than predicted by Cowen & Co. analyst Cai von Rumohr.The shortfall probably pared $900 million from third-quarter revenue and 25 cents to 30 cents a share from estimated earnings, von Rumohr said in an Oct. 8 report. That probably resulted in a cash outflow of $1.7 billion to $2 billion for the quarter, he said.‘Undue Pressures’Boeing announced the decision to split the CEO and chairman jobs on the same day that a review panel of global aviation experts delivered a scathing assessment of missteps by the company and the U.S. Federal Aviation Administration in the development and certification of the Max.The Chicago-based manufacturer exerted “undue pressures” on some of its own employees who had FAA authority to approve design changes, according to a 69-page summary of the panel’s findings.Regulators assessing the aircraft sometimes didn’t follow their own rules, used out-of-date procedures and lacked the resources and expertise to fully vet the design changes implicated in two fatal crashes, the Joint Authorities Technical Review found.The findings are ratcheting up the pressure on Muilenburg as he seeks to guide Boeing out of one of the biggest crises in the modern jet era.When asked in an interview last week if he was the right person to lead Boeing out of the deepening turmoil, Muilenburg responded: “This is not about me, right? It’s about our company and what we do for our customers.” He then said, “I will serve in this role with everything that I have as long as the board wants me serving in this role.”(Updates with analyst comment in fourth paragraph.)\--With assistance from Richard Clough.To contact the reporter on this story: Julie Johnsson in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Case at email@example.com, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Boeing said David L. Calhoun, a Blackstone Group private equity boss and Boeing director, has been appointed to serve as a non-executive chairman.
Boeing Co's board has stripped chief executive Dennis Muilenburg of his chairmanship title, in an unexpected strategy shift announced by the U.S. planemaker on Friday only hours after a global aviation panel criticized development of the troubled 737 MAX. Lead Director David Calhoun, a senior managing director at Blackstone Group, will takeover as non-executive chairman, Boeing said in its announcement, which came late on Friday afternoon without warning. The decision came as Boeing struggles to get its best-selling 737 MAX back into service following a worldwide safety ban in March triggered by two crashes that killed a total of 346 people in Ethiopia and Indonesia.
Separating the roles, which will enable Muilenburg to have "maximum focus" on steering daily operations, was the latest step the board has taken in recent weeks to improve executive oversight of its engineering ranks and industrial operations. Lead Director David Calhoun, a senior managing director at Blackstone Group, will takeover as non-executive chairman, Boeing said in its announcement, which came late on Friday afternoon without warning. It added that the board had "full confidence" in Muilenburg, who will retain the top job and remain on the board.
Boeing Co. said late Friday its board voted to separate the roles of chief executive and chairman. The aviation company said Dennis Muilenburg will continue as CEO, president and a board member, while David Calhoun, the current independent lead director, will become non-executive chairman. "The board has full confidence in Dennis as CEO and believes this division of labor will enable maximum focus on running the business with the board playing an active oversight role," said Calhoun in a statement. "The board also plans in the near term to name a new director with deep safety experience and expertise to serve on the board and its newly established Aerospace Safety Committee." Boeing has been beleaguered all year by groundings of its 737 Max jet, following suspected software problems that likely contributed to the crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302. Boeing shares declined 0.2% after hours, following a 1.1% rise to close at $374.92. Shares are up 16% for the year.
CHICAGO, Oct. 11, 2019 /PRNewswire/ -- The Boeing Company (BA) today announced that its Board of Directors has separated the roles of chairman and chief executive officer. Dennis A. Muilenburg continues as CEO, president and a director. The board said splitting the chairman and CEO roles will enable Muilenburg to focus full time on running the company as it works to return the 737 MAX safely to service, ensure full support to Boeing's customers around the world, and implement changes to sharpen Boeing's focus on product and services safety.
The company has told customers in the Puget Sound region that there will be delivery delays because it will take several months to restore full production.
The Dow Jones rallied on China trade deal hopes as Apple stock hit a new high. Boeing 737 Max setbacks and Delta earnings guidance were in focus.
Shareholders OK'd the United Technologies and Raytheon "merger of equals." UTX stock, Raytheon stock rose. Regulators must OK the aerospace and defense giant.
Global safety regulators slammed the Federal Aviation Administration's review of a key system on the Boeing 737 Max.
Boeing Co. said Friday its board has separated the roles of CEO and chairman, both of which had been held by Denis Muilenburg. Muilenburg will continue as CEO while lead director David Calhoun has been named chairman. The move comes as Boeing continues to struggle to return its 737 Max model to service following two fatal crashes tied to its flight control systems.
The U.S. Federal Aviation Administration had insufficient personnel to oversee the certification of new Boeing airplanes and should make significant reforms in how it approves new aircraft, an international aviation panel said Friday. The panel also faulted assumptions made by the airplane manufacturer in designing the 737 MAX and for not disclosing more information to the FAA.
The number of independent jet makers is dropping. That means commercial aerospace stocks will stay popular on Wall Street for the foreseeable future.
The three U.S. airlines with Boeing Co. 737 MAX jets in their fleets have scrapped the planes from their schedules until January as the grounding of the aircraft stretches closer to the end of 2019. United Airlines (NASDAQ: UAL) on Friday said that it was removing the MAX from its schedule through Jan.
The U.S. Federal Aviation Administration on Friday released a report by an international aviation panel that criticized the agency's certification of the Boeing 737 MAX and faulted assumptions made by the airplane manufacturer.
Aviation regulators are criticizing both Boeing and the FAA over the grounded 737 Max. The report condemns Boeing for withholding key information and the FAA for lacking expertise during the approval process. Kris Van Cleave reports.
Boeing is under fire yet again after a new report from a panel of international air safety regulators will reportedly criticize the FAA's review of Boeing's 737 Max jet. CFRA's Jim Corridore joins Yahoo Finance's Akiko Fujita to discuss.
Oct.11 -- The Federal Aviation Administration's approval procedure for Boeing Co.'s 737 Max jetliner has been called into question following a report from the Joint Authorities Technical Review. Bloomberg Intelligence's George Ferguson has the details on "Bloomberg Markets."
Cracks were found in a structural part on 38 Boeing jets. Wendy's is expanding into Europe while Dyson abandons its electric car project. Yahoo Finance's Adam Shapiro, Brian Cheung and Pras Subramanian discuss on On the Move.
The Federal Aviation Administration failed to properly review 737 Max System, according to a recent report. Yahoo Finance's Alexis Keenan joins On The Move to discuss the latest.