Boeing -2.3% following downgrade, Airbus order cancellation

|About: The Boeing Company (BA)|By:, SA News Editor

Boeing (BA -2.3%) is easily the Dow's biggest decliner today following two pieces of bad news - one specific to Boeing, the other to the airline industry.

RBC downgraded BA shares to Sector Perform from Outperform, believing most of the good news already is out and reflected in the stock; Boeing "has become an execution/cash deployment vs. an upside to growth story, and this is likely to cap any multiple expansion from here," RBC writes.

Also, today's surprise cancellation of an Airbus (EADSF -2.9%) order raises questions over new aircraft demand, whether for the Airbus A350 or a more general wobble of confidence in a previously solid market that could also hit Boeing.