Stock Market | Stocks | Investing
Stock market, stocks, investing, business, stock trading, stock investing, stock market news, money, finance
The Boeing Company (BA) stock closed at 162.00-18.55 (-10.27%) on Friday, March 27, 2020. This is a 5-day change of +70.51% for the BA stock price.
Stock market data: MarketWatch, Stockscharts
Boeing share price closed at $158.73+31.05 (+24.32%) on Wednesday, March 25, 2020. In the past 3 days, Boeing stock has rallied almost 75%. BA stock price was about $90 three days ago. At 8:24 Thursday, March 26, 2020, Eastern Time (ET), in the pre-market trading BA stock price is at $162.00 +3.36 (2.12%).
“The promise of a $2 trillion stimulus program was received with widespread relief across Wall Street, none more so than by investors of beleaguered airline Boeing (BA). BA stock jumped over 60% in the past 3 trading sessions. Yet, even following the surge, Boeing’s share price is down by 50% year-to-date. So, following months of the stock’s decline, is Boeing finally on the mend?”
Source: https://finance.yahoo.com/news/boeing-presses-survival-mode-analysts-205142525.html
At 12:01 PM, Tuesday, March 24, 2020, Eastern Time (ET) Boeing stock price is at 123.55+17.93 (+16.98%). The news related to this jump for Boeing stock price is:
“Boeing Co. (BA) shares surged higher Tuesday after it stuck to forecasts for mid-year return for the 737 MAX and investors bet a Senate coronavirus stimulus bill could steer billions towards the troubled planemaker.
Boeing CEO David Calhoun told CNBC that he still expects the flagship plane, which was grounded last year following two fatal crashes that took the lives of 346 people, to get FAA approval to return to service in early summer. The current Senate relief package, which could reach $2.5 trillion, is also likely to provide loan guarantees and grants to the U.S. aviation and aerospace industries, which have been ravaged by the global coronavirus pandemic.
“We’re very close to the finish line,” Calhoun said of the 737 MAX return, adding that there were “a lot of options for us in the private markets, but the credit markets have to be open” when asked about the planemaker’s request for $60 billion in financial aid. “
Source: https://www.thestreet.com/investing/boeing-surges-after-ceo-sticks-to-mid-2020-737-max-return
Boing shares fell 18% on Wednesday, March 11, 2020, hitting a 52-week low at $187. These news made the Boing stock plunge:
“JP Morgan analysts have given up on their long-term “overweight” call on Boeing Co shares, cutting their price target for the company by $160 to just $210 dollars in a note to clients on Thursday.
The bank, which now rates Boeing “neutral”, said the added hit from the coronavirus to airlines made it impossible to stick with its call that investors should wait out the grounding of the company’s 737 MAX planes this year.
Boeing said on Wednesday it was freezing new hiring and overtime except in certain critical areas to preserve cash, and the company is also moving to draw down funds from existing loan facilities as it battles the worst crisis in its history.” Source: https://finance.yahoo.com/news/jp-morgan-abandons-boeing-buy-093927182.html
“Boeing announced a number of MAX order cancellations when it provided its monthly update on Wednesday. Air Canada (AC.Canada) canceled 11 MAX jets. Japan Investment Adviser canceled another 10 MAX jets. Other customers converted MAX orders into different aircraft, such as Boeing 787s. The overall net February order number was minus 28.”
The Boeing stock daily chart shows the selling pressure for BA stock after closing below the 50-day and 200-day moving averages.