Cowen and Co. analyst Cai von Rumohr released statement that he expected Boeing's earnings in 2009 and 2010 to be lower than expected because of declining demand for new aircraft. Decreases in new aircraft orders have been spurred by a global recession and higher fuel prices which are forcing airlines to cut back on expansion plans.
In a piece of positive news for Boeing shareholders, the machinist union and its 27,000 employees will finally return to work on Novermber 2nd. After spending nearly two full months on strike and costing the firm over $500 million in lost revenue, the employees won several concessions including a 15% pay raise.
Nearly a month after Boeing Machinists walked off the job, talks for a new deal have collapsed. A stalling point appears to be a contract stipulation that allows Boeing to bypass union workers in certain tasks.
Because of the current machinist strike, Boening has announced a 14 month delay in delivery to Japanese customers purchasing the 787 Dreamliner.
An emergency meeting could not resolve pay demands from Boeing's largest union and 27,000 machinists walked off of the job.
The GAO Releases a report sustaining Boeings Protest of the 35 Billion Dollar Tanker Contract that was previously awarded to the team from Northrup- Grumman / EADS. See <http://www.gao.gov/decisions/bidpro/311344.pdf>
Goldman Sachs analyst Richard Safran cut his rating on Boeing to "Sell" from "Neutral"
The company announced that the schedule announced in April is current, and the first flight of the dream liner will be in the 4th quarter of 2008.
The Air Force awarded a $35 billion aerial refueling tanker contract to rival EADS NV and its partner Northrop Grumman. Boeing had been supplying the refuelers to the Air Force for almost 50 years and was expected to win the deal. The deal, which only would have supported 44,000 new and existing jobs at Boeing and more than 300 suppliers in the more than 40 states, is the first of three Air Force awards worth as much as $100 billion to replace its entire refuelingtanker fleet over the next 30 years. Boeing would have used Pratt & Whitney engines. Instead, EADS NV will use General Electric engines. Members of the US Congress are in an uproar about the idea of the contract being in foreign hands and are appalled at how many American jobs will be lost. The Northrop/EADS contract is expected to add just 2,000 new American jobs, compared to the 44,000 expected with Boeing in charge.
Shares of Boeing dropped 6.5% to $76.35 in afternoon trading following a report from The Wall Street Journal Tuesday that the aircraft maker would soon announce further delays to its 787 Dreamliner program.
South Korea-based Jeju Air ordered five Next-Generation 737-800s for $370 million. The 737s will be the first Boeing airplanes to enter the Jeju Air fleet. Jeju Air provides domestic flights between the resort island of Jeju and Korea's mainland.
Boeing Co.'s (BA) McDonnell Douglas Corp. was awarded an indefinite delivery/indefinite quantity contract with a 5-year waiting period for $1.3 billion. This contract is a follow-on contract to the PE/PI contract awarded in January 2001. The contract is for continued efforts associated with the analysis, study, plan, design, development and qualification/test and kit prototype of enhancements and improvements to the C-17 weapon system.
12/22/2007 - 12/23/07: GE Commercial Aviation Services announced the order of 39 Boeing planes valued at $5.34 billion dollars.
Amid concerns that Boeing's highly anticipated 787 Dreamliner aircraft will be further delayed following an announcement of a 6 month delay in October Boeing shares lost ground on a day that Wall Street rallied after heavy profit taking in response to a weak 25bps rate cut by the fed on Tuesday. This comes despite Boeing's announcement that production for the aircraft is still on schedule for early 2008 test flights.
The House Homeland Security Committee's chairman is pressuring federal officials to delay acceptance of Boeing Co.'s high-tech border-surveillance system because he isn't confident it will work as promised on the Arizona-Mexico border.
Boeing announces that the initial deliveries of the 787 will be delayed by 6 months due to assembly problems
The company announced that the test flight will be delayed, but that the first orders will still be delivered on time.
Boeing beats analysts expectations with 2nd quarter earnings of 1.1B or $1.35 per share, up 21 cents per share from the previous quarter
Boeing announces first quarter earnings up by 28% to $1.13 per shae
4/11/2007 - 4/12/07: Boeing submitted its proposal for the KC – 767, a new aerial refueling tanker. Boeing’s proposal competes with rival companies to build a new tanker for the US Air Force.
12/29/2006 - 1/1/07: Boeing finalized the purchase of C-Map. C-Map provides navigational systems, in particular maritime cartography.
Airbus, Boeing's largest competitor in the commercial airplane space, announces large delays to its flagship A380 airplane.
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