The Boeing CompanyNYSE
Fri, Dec. 2, 12:03 PM
- An all-star team of business leaders has been named to an advisory board that will talk to Donald Trump during his administration.
- The President's Strategic and Policy Forum will be chaired by Blackstone (NYSE:BX) CEO Stephen Schwarzman. Other members include General Motors (NYSE:GM) CEO Mary Barra, JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon, Wal-Mart (NYSE:WMT) CEO Doug McMillon, Disney (NYSE:DIS) CEO Bob Iger and former Boeing (NYSE:BA) CEO Jim McNerney.
- The impressive list is a bit short of Silicon Valley leaders, while hedge fund managers are completely MIA.
- The group is scheduled to meet for the first time in early February.
Wed, Nov. 30, 3:40 PM
- United Continental (UAL -0.4%) is considering whether to alter a $12.4B order for Airbus' (OTCPK:EADSF, OTCPK:EADSY) largest twin-engine jets, and is studying a swap of Boeing’s (BA -0.4%) smallest 737 for a longer version still on the drawing board, CFO Andrew Levy tells Bloomberg.
- UAL may convert some of the Airbus A350-1000s to smaller long-haul models, and is considering the Max 10X, a stretch of Boeing’s largest 737, to replace some of the single-aisle jet orders it recently deferred as part of a cost-savings push.
- Levy also says UAL is rethinking its share buybacks after announcing a $2B repurchase plan this summer that followed a $3B effort last year, explaining that the pace may need to slow because of increases in labor expenses from several new union contracts as well as rising fuel costs.
Wed, Nov. 30, 4:53 AM
- France says the U.S. must comply with the WTO ruling against Washington state's tax break for the Boeing (NYSE:BA) 777X jetliner, which it called a prohibited subsidy.
- "If not, the European Union will have the legal grounds to adopt retaliatory measures concerning goods coming in from the United States."
Tue, Nov. 29, 2:57 PM
- Boeing (BA +1.1%) could raise its dividend by 10%-15% after its upcoming Dec. 12 board meeting, which would lift BA’s projected yield to 3.2%-3.3% from the current 2.9%, Wells Fargo analysts predict.
- In recent years, Boeing also has replaced and expanded its share repurchase authorization at the time of its December board meeting, and the firm believes the two moves this year would be positive.
- Still, Wells is not particularly bullish on the shares, rating BA as Neutral with a $155-$160 valuation, given the slowing pace of orders and general macroeconomic concerns.
Mon, Nov. 28, 4:48 PM
- Boeing (NYSE:BA) looks on the bright side following the WTO's ruling against a Washington state tax break for its 777X jetliner, claiming the decision was "a victory for the United States, Washington state and Boeing" since the WTO rejected all but one of the European Union's challenges to the tax incentives.
- "In total, the EU claimed that Boeing had received $8.7B in subsidies. This claim was rejected by the WTO, which found future incentives totaling no more than $50M/year to be impermissible," Boeing said in a statement.
- Boeing says it expects the ruling will be overturned on any appeal, claiming to have the upper hand in the latest round of a long trade dispute placing it at odds with rival Airbus (OTCPK:EADSF, OTCPK:EADSY).
Mon, Nov. 28, 2:40 PM
- Kuwait plans to buy 28 Boeing (BA -0.2%) F-18 Super Hornets, and plans to return a number of outdated F-18s in its inventory as part of the purchase deal, a military official says.
- The U.S. State Department notified Congress 10 days ago of the possible sale of 40 of the warplanes.
- The fighter aircraft are increasingly important to Kuwait amid rising regional tensions between Saudi Arabia and Iran.
Mon, Nov. 28, 10:39 AM
- Airbus (OTCPK:EADSY -0.5%) is calling for a global agreement to set rules for the aerospace industry after the WTO partially ruled in Europe's favor in the latest round of a marathon subsidy dispute with Boeing (BA -0.7%).
- "I continue to think that the only way out of the ridiculous series of disputes initiated by the U.S. is to agree on a set of globally applicable rules for the support of the civil aircraft industry, which would benefit both sides of the Atlantic," Airbus CEO Tom Enders said in a statement.
- "The duopoly is no longer the framework of reference in the future," he said, noting recent support by the Quebec government for Canada's Bombardier ((OTCQX:BDRAF +0.1%), (OTC:BRDBF)).
Mon, Nov. 28, 10:21 AM
- The prohibited subsidy came in the form of a renewed cut in Washington state's main business tax for aerospace agreed in 2013, when Boeing (NYSE:BA) was considering where to base assembly for the long-haul jet. However, the WTO rejected a complaint by the EU against six further tax measures.
- While the trade organization didn't give a value for the banned aid, the EU estimated it at $5.7B out of an $8.7B package.
- The ruling, which can be appealed by either side, comes as the U.S. ponders potential sanctions against the EU over earlier WTO rulings against Airbus.
- Previously: Boeing may get hit with WTO sanctions (Nov. 28 2016)
Mon, Nov. 28, 7:20 AM
- Norway plans to order five Boeing (NYSE:BA) P-8A Poseidon maritime patrol planes to maintain its surveillance capacity and meet future security challenges, the NATO country's Defense Ministry said.
- The 9.83B Norwegian crowns ($1.15B) purchase will likely face only minor political opposition following an agreement in Norway's parliament to boost long-term military spending,
Mon, Nov. 28, 2:19 AM
- The World Trade Organization is set to rule this week that Boeing (NYSE:BA) received illegal tax breaks from Washington state to build its new 777X, the latest round in a long-running dispute between the U.S. and Europe over planemaker support.
- According to WSJ, the EU said Boeing had lined up more than $8B in prohibited subsidies for the long-range jetliner program, but American officials have called that figure inflated.
Fri, Nov. 25, 8:35 AM
- It's been a difficult year for Turkish tourism, and budget carrier Pegasus Airline is looking to cut costs. The company was set to take on five planes from Boeing (NYSE:BA) next year, but CEO Mehmet Nane tells Reuters it may just accept two for now.
- Pegasus at first hoped for 13-15% passenger growth this year, but this summer more than halved that guidance. Nane expects to beat that lowered forecast.
Wed, Nov. 23, 7:54 AM
Tue, Nov. 22, 3:37 PM
- With $4.5B of short interest, Exxon Mobil (NYSE:XOM) leads the way, followed by IBM at $3.7B. Rounding out the top ten: AT&T (NYSE:T), Caterpillar (NYSE:CAT), Chevron (NYSE:CVX), Boeing (NYSE:BA), GE, Procter & Gamble (NYSE:PG), Abbot Labs (NYSE:ABT) and Disney (NYSE:DIS).
- Most interesting from that list are Cat, Boeing, and Abbot Labs as their market caps are significantly smaller than the other seven.
- Of the top 50 short positions, there are two names in which the short interest rises to as high as 10% of the market cap: Freeport-McMoRan (NYSE:FCX) and Digital Realty Trust (NYSE:DLR).
- Previously: Goldman's list of stock longs mattering most to hedge funds (Nov. 22)
Tue, Nov. 22, 2:27 PM
- Canada's government is in talks to buy 18 Super Hornet aircraft from Boeing (BA +1.5%) as an interim measure in a planned overhaul of its legacy CF-18 fighter jet fleet, and will launch a competition process to replace the country's aging CF-18 program, the defense minister says.
- Separately, an executive with Pakistan International Airlines says the state-owned airline is evaluating an order for an unspecified number of widebody Boeing and Airbus (OTCPK:EADSF, OTCPK:EADSY) jets, including Boeing's 777X and Airbus' A330 and A350.
Mon, Nov. 21, 5:28 PM
- Boeing (NYSE:BA) says Ray Conner will step down as head of its commercial aircraft unit, to be replaced by GE Aviation Services (NYSE:GE) chief Kevin McAllister.
- The 61-year-old Conner is Boeing's vice chairman and has been president and CEO of Commercial Airplanes since 2012; he joined Boeing in 1977 as a mechanic and rose through the ranks to lead its 747 and 777 jet lines as well as leading the commercial unit sales and customer support operation.
- McAllister spent 27 years at GE Aviation, where he served since 2014 as president and CEO of GE Aviation Services; he had been VP and general manager of the unit's global sales and marketing since 2008.
Sun, Nov. 20, 4:30 AM
- "Given the outcome of the congressional election and learning more specifically who is (and isn’t) involved as space advisers, I anticipate a larger appetite for a change agenda and a better than expected potential to get at least some of their agenda accomplished," Lori Garver, former No.2 at NASA writes.
- Expected areas of change: i) NASA’s bureaucracy/infrastructure is much too large and expensive. ii) NASA shouldn’t be spending so much money on Earth sciences. iii) The Moon is a better and more important destination than Mars. iv) Entrepreneurial space should play a larger role in all aspects of space. v) Space activities cut across international, civil, military and commercial arenas and should be run out of the White House, by a National Space Council, reporting to Vice President Pence.
- She also takes a few parting shots at the departing administration: "NASA Administrator Charlie Bolden’s perceived lack of enthusiastic support of the White House agenda gave an opening to the opposition. Without a willingness to take on these special interests, the administration made a Faustian bargain to secure congressional support for Earth sciences, technology and commercial crew, in exchange for support of developing a large expendable rocket (the Space Launch System or SLS) and deep space capsule (Orion) for human spaceflight. While these parochial interests still exist, a Trump White House has the opportunity to more effectively defend its own agenda."
- Stocks potentially impacted: AVAV, B, BA, GLOB, HON, I, JEC, LMT, OTCPK:MDDWF, MOG.A, OA, SAIC, SPACE, T