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Sterne Agee: Boeing Q1 deliveries slower than expected

  • Sterne Agee says that per their checks, Boeing's (BA +1.6%) Q1 deliveries are behind plan.
  • The "current delivery pace would result in flat year-over-year 1Q14 deliveries vs. double-digit growth," Sterne says.
  • "Sterne has been THE bull in the name," tweets Notable Calls. Sterne still rates Boeing at a Buy, "but the tid-bits they have picked up are cautious indeed."
  • In Q4, deliveries in the commercial airplanes division rose 4% to 172; the company's 2014 target is 715-725.
Comments (7)
  • joegillam
    , contributor
    Comments (339) | Send Message
     
    I would think that sooner or later they will get the kinks worked out of the 787 line in Charleston and with the new paint shop those birds should begin to roll!
    4 Mar, 11:27 AM Reply Like
  • thomas85225
    , contributor
    Comments (563) | Send Message
     
    The 787 that been in news where assembly in Everett
    the 787 was start on 3-28-2003 with 1000 orders and only 118 delivery to date

     

    Boeing is late delivery fee, the 787 being out service to the grounding and other problems
    Boeing is paying Air India 500 millions and LOT 33 millions

     

    Boeing Short-Circuiting 787 Shows Skills Gap, Norwegian Air Says
    http://buswk.co/1bercyd

     

    Many airlines are not replacing there exist Boeing aircraft, since Boeing CEO James McNerney, and GE CEO Jeff" Immelt are member of the board on the Import-Export Bank that made better loan to foreign airlines at a lower interest rate

     

    Delta, and other Airline Group have file law suits against The U.S. Export-Import Bank over Air India Loan Guarantees
    http://bloom.bg/19EVNoT-

     

    this has cause airline to buy from Airbus that beat Boeing in 2013

     

    Boeing Dreamliner Lawsuit Dismissal Upheld on Appeal - …
    http://bloom.bg/1eF3bpW may be the reason that airlines are ordering from Airbus

     

    Charleston and with the new paint shop ????? Boeing is fly the 787 to Texas to be painted
    4 Mar, 12:12 PM Reply Like
  • GarryGR
    , contributor
    Comments (173) | Send Message
     
    link for the Dreamliner Lawsuit Dismissal didn't work for me but I found it (Boeing Dreamliner Lawsuit Dismissal Upheld on Appeal:
    http://bit.ly/1hQSU9z

     

    interesting, there's much too much of this kind of lawsuit being filed against large companies just because of a possible big payout. Hopefully, the court will penalize the lawyers for their greedy attempt at enriching themselves. Fragment from that article:

     

    The U.S. Court of Appeals in Chicago also asked a trial- court judge to consider punishing lawyers for the City of Livonia Public Employees’ Retirement System in Michigan for failing to adequately investigate statements allegedly made by a confidential source they relied on. . . . .

     

    “Noting that none of the plaintiffs’ lawyers had met or talked to Singh until six months after they filed the second amended complaint, even though the first amended complaint had alleged reliance on internal Boeing communications, the judge thought their failure to attempt to verify the allegations in the investigator’s notes amounted to a fraud on the court,” the appeals court said today
    6 Mar, 03:54 PM Reply Like
  • thomas85225
    , contributor
    Comments (563) | Send Message
     
    Dismissal of Boeing 787 class-action suit upheld ... - The ...

     

    seattletimes.com/html/... - Similar

     

    Boeing Dreamliner Lawsuit Dismissal Upheld on Appeal - Bloomberg

     

    http://bloom.bg/1cI9sML... - Similar

     

    Boeing Dreamliner Lawsuit Dismissal Upheld on Appeal
    By Andrew Harris Mar 26, 2013 5:12 PM

     

    Boeing Co. (BA) won an appeals court ruling affirming the dismissal of an investor lawsuit accusing company officials of making misleading public statements about the readiness of its 787 “Dreamliner” aircraft.

     

    The U.S. Court of Appeals in Chicago also asked a trial- court judge to consider punishing lawyers for the City of Livonia Public Employees’ Retirement System in Michigan for failing to adequately investigate statements allegedly made by a confidential source they relied on.

     

    “The plaintiffs’ lawyers had made confident assurances in their complaints about a confidential source -- their only barrier to dismissal of their suit -- even though none of the lawyers had spoken to the source and their investigator had acknowledged that she couldn’t verify what (according to her) he had told her,” U.S. Circuit Judge Richard A. Posner wrote in the unanimous ruling by the three-judge appeals panel.

     

    The confidential source later denied making the alleged prior statements when questioned under oath by Boeing lawyers, according to Posner.

     

    Boeing’s 787 jet entered service in 2011 after three years of delays caused by supply-chain interruptions, assembly problems and a machinists strike. The U.S. Federal Aviation Administration grounded the plane in January after overheated lithium ion batteries on some planes began smoldering and emitting smoke.

     

    Executives Sued

     

    The Livonia pension plan class action, or group lawsuit, was filed in 2009 by San Diego-based law firm Robbins Geller Rudman & Dowd LLP. Named as defendants with Chicago-based Boeing were Chief Executive Officer W. James McNerney and Scott E. Carson, who led the company’s commercial airplane group.

     

    After an initial complaint was dismissed, U.S. District Judge Suzanne Conlon in Chicago allowed the plaintiffs to refile and then denied a subsequent defense motion for dismissal, according to the appeals court.

     

    Boeing renewed that request after questioning the source of the allegations, an engineer identified as Bishnujee Singh. Conlon granted the company’s request.

     

    “Noting that none of the plaintiffs’ lawyers had met or talked to Singh until six months after they filed the second amended complaint, even though the first amended complaint had alleged reliance on internal Boeing communications, the judge thought their failure to attempt to verify the allegations in the investigator’s notes amounted to a fraud on the court,” the appeals court said today.

     

    Darren Robbins, a partner in the firm’s San Diego office, and James Barz, a partner in its Chicago office, didn’t immediately reply to phone and e-mail messages seeking comment on the court’s decision.

     

    Allegations ‘Baseless’

     

    “Boeing is pleased that the Court of Appeals concluded, as did the district court, that the securities fraud allegations against Boeing were baseless and that it was the plaintiffs’ law firm that engaged in fraud -- fraud on the court,” John Dern, a company spokesman, said in an e-mailed statement.

     

    “Boeing looks forward to the hearings in the district court in which sanctions against the plaintiffs’ law firm will be considered,” Dern said.

     

    The case is City of Livonia Employees’ Retirement System v. Boeing Co., 12-1899 and 12-2009, U.S. Court of Appeals for the 7th Circuit (Chicago).

     

    To contact the reporter on this story: Andrew Harris in the Chicago federal courthouse at aharris16@bloomberg.net

     

    To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net
    7 Mar, 12:55 PM Reply Like
  • cjespo
    , contributor
    Comments (12) | Send Message
     
    It is at best a guess on where Boeing will be in 6 months to a year. The other big plane plyer Airbus has its share of issues too.
    4 Mar, 12:16 PM Reply Like
  • tarheelboy
    , contributor
    Comments (193) | Send Message
     
    Just another brokerage house trying to sound important. They don't know anything about what Boeing is doing. Words full of sound and fury, signifying nothing !
    4 Mar, 01:03 PM Reply Like
  • joegillam
    , contributor
    Comments (339) | Send Message
     
    Boeing's aircraft will sell, and sell good. Airbus and Boeing together will not be able to meet the world's demand for aircraft for the next 25 years.

     

    Joe In Georgia
    6 Mar, 06:34 PM Reply Like
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