The Boeing CompanyNYSE
Tue, Oct. 11, 2:39 PM
- Boeing (BA -1.7%) says it has delayed the first manned flight of its new space taxi for the second time this year and could take a financial charge against the program as early as its Q3 results.
- Boeing says supplier and technical issues will push back the first unmanned flight of its CST-100 Starliner to June 2018, with a crewed flight following in August.
- The admission of a further delay comes weeks after a government agency warned that both Boeing and SpaceX probably would have to push back their first crewed flights.
Tue, Oct. 11, 10:58 AM
- Boeing (BA -0.6%) and Atlas Air Worldwide (AAWW +0.6%) announce a deal to convert nine 767 passenger airplanes into converted freighters, up from an order of four planes previously announced at the Farnborough International Airshow in July that was attributed to an unidentified customer.
- Boeing's current market outlook forecasts a need for 400 widebody conversions over the next two decades, with strong demand for 767 freighter conversions due to a rise in e-commerce.
Sat, Oct. 8, 8:25 AM
- “This is the bottom” for Honeywell's (NYSE:HON) businesses exposed to the oil and gas industries, but troubles in the business jet industry “will get worse” next year, CEO David Cote said Friday, a day after the company cut its earnings and sales forecast, causing shares to slide 7.5% in their worst showing in five years.
- "This was a surprise," says William Blair's Nick Heymann, as HON had been considered a safe-haven stock amid sluggish industrial growth, on Cote's reputation and record of delivering on profit targets.
- Morgan Stanley analyst Nigel Coe compared HON’s announcement to a “paella bowl” dropped in front of investors and said “credibility is becoming a growing issue.”
- Other analysts are more confident: J.P. Morgan's Steve Tusa says "it's not that bad in the grand scheme," noting that HON’s profits are off ~5% YTD, roughly in line with its industrial peers.
- “While this quarter and maybe next quarter look to be a little bit worse than anticipated, we still believe they’re well positioned long term to benefit from growth opportunities," according to Edward Jones' Jeff WIndau.
- HON supplies parts to Textron (NYSE:TXT) and General Dynamics (NYSE:GD), which fell a respective 3.6% and 0.8% yesterday, while aerospace parts makers Heico (NYSE:HEI), B/E Aerospace (NASDAQ:BEAV) and TransDigm (NYSE:TDG) each slid more than 1%; also, GE slipped 0.6%, United Technologies (NYSE:UTX) fell 1.5%, and Boeing (NYSE:BA) lost 0.4%.
Fri, Oct. 7, 4:49 PM
- Boeing (NYSE:BA) says it landed an order for 30 787-9 Dreamliners and 10 777-300ERs, valued at $11.7B at list prices, from Qatar Airways.
- The airline also signed a letter of Intent to purchase up to 60 737 MAX 8s, valued at $6.9B at list prices; combined, it is the largest single order ever placed by the Gulf carrier.
- Qatar is making good on a threat to buy Boeing planes after rejecting initial A320neo deliveries from Airbus (OTCPK:EADSF, OTCPK:EADSY) because of engine problems.
Thu, Oct. 6, 12:28 PM
- Airbus (OTCPK:EADSF, OTCPK:EADSY) says it sold 49 jets in September but its net orders for the year were hit by the cancellation of jets ordered by India's Kingfisher Airlines.
- Airbus says it totaled 566 aircraft orders in the first nine months of the year but the net total fell to 380 from 438 a month earlier after 107 cancellations for Kingfisher.
- Also in September, Airbus delivered 62 aircraft, including eight of its A320neo jets and five A350s, bring the YTD total to 462.
- Boeing (NYSE:BA) sold 460 jets YTD through Oct. 4, or a net total of 380, leaving the companies nearly even after adjusting for cancellations.
Thu, Oct. 6, 11:20 AM
Wed, Oct. 5, 5:25 AM
- Meet the Boeings... CEO Dennis Muilenburg has sketched out a Jetsons-like future, envisioning a commercial space-travel market with dozens of destinations - like hotels and factories - orbiting the Earth and hypersonic aircraft shuttling travelers between continents in two hours or less.
- Boeing (NYSE:BA) also intends to be a key player in the initial push to send humans to Mars, maybe even beating SpaceX (Private:SPACE) and Elon Musk to his long-time goal.
Tue, Oct. 4, 2:40 PM
- Boeing (BA -0.2%) still believes it can reach its target of roughly matching jet deliveries with new orders this year, with deliveries expected to come in at 740-745 jets, CEO Dennis Muilenburg says.
- "We continue to trend towards a book to bill of about one," the CEO says, even though a YTD slowdown in sales of widebody jets has left Boeing less than half way to reaching its goal of a book-to-bill ratio of ~1.0.
- Muilenburg also says Boeing is making progress on a deal to provide more than 100 commercial airplanes to Iran, although none will be delivered in 2016.
- Boeing is "in the final stages of working through the deal structure with our customers in Iran" while also working through the U.S. government licensing process, the CEO says.
Tue, Oct. 4, 11:11 AM
- Boeing (BA +0.1%) reportedly is close to selling eight Dreamliner 787s to Pakistan International Airways following a high-level lobbying and sales campaign by Boeing Commercial Airplanes President and CEO Ray Conner.
- Worth at least $1.8B at list prices, the order would help the Pakistani airline double its fleet and launch direct service to Kennedy airport in New York.
- The airline recently announced plans to retire five older Airbus (OTCPK:EADSF, OTCPK:EADSY) A310 aircraft.
Fri, Sep. 30, 6:55 PM
- United Launch Services, the joint venture between Boeing (BA +0.5%) and Lockheed Martin (LMT -1.1%), has won an $861M modification to a contract with the Air Force.
- The change applies to a contract for Evolved Expendable Launch Vehicle capabilities, for the Delta IV and Atlas V families of rockets.
- Work will happen in Centennial, Colo., and at Vandenberg AFB in California and Cape Canaveral in Florida, and should be complete by Sept. 30, 2017.
Thu, Sep. 29, 2:12 PM
- Boeing (BA -1%) is near an agreement with Qatar Airways for a multibillion-dollar commercial jet order, following U.S. government approval of a long-stalled sale of F-15 fighter jets to the country, Bloomberg reports.
- Qatar reportedly is in late-stage talks to acquire at least 30 Boeing widebody jets and would take 787 Dreamliner and 777 models, in an order that would be valued at ~$6.7B at catalog prices, although airlines typically negotiate discounts.
- Qatar Airways' CEO has signaled his growing frustration in recent months with Airbus (OTCPK:EADSF, OTCPK:EADSY) over struggles to meet delivery deadlines of the A350, which competes with the 787 and 777.
Wed, Sep. 28, 4:31 PM
- The U.S. government has approved $7B in sales of Boeing (NYSE:BA) fighter jets to Kuwait and Qatar, and has begun an informal notification process with U.S. lawmakers, Reuters reports.
- The sale reportedly includes 36 F-15 fighter jets to Qatar valued at ~$4B, and 28 F/A-18E/F Super Hornets plus options for 12 more to Kuwait in a deal valued at ~$3B.
- The sales had been pending for at least two years, amid concerns raised by Israel that arms sold to Gulf Arab states could be used against it.
- The government reportedly also approved the sale of F-16 fighter jets built by Lockheed Martin (NYSE:LMT) to Bahrain.
Wed, Sep. 28, 8:49 AM
- Boeing (NYSE:BA) has signed an agreement with Morocco's government that the North African kingdom hopes will create 8,000 jobs and an additional $1B a year in export revenue.
- The planemaker will support a plan to build up the nation's aerospace manufacturing sector, encouraging suppliers to set up or expand there.
- Moroccan Industry Minister Hafid El Alamy hopes it will bring 120 Boeing suppliers into the country.
Mon, Sep. 26, 6:31 PM
- Canada's not yet released much information on a pledge to open competition for its new fighter jets -- but the government is looking hard at data from bidders, says Boeing International's (BA -0.9%) Marc Allen.
- "The focus on data was very clear, very strong," he said. "It gave all of the suppliers a chance to set down in black and white what it is their platform does," adding that Boeing had been in a "ping-pong" set of questioning from the government.
- Canada's new Liberal government had pledged not to buy the Lockheed Martin (LMT -0.1%) F-35s that it had been, calling them expensive and unnecessary.
- Lockheed and Boeing are among five companies invited to submit data on areas including capabilities and economic benefits of competing programs.
- Boeing is selling the benefits of work opportunities that would be provided for Canadian firms, and Allen didn't rule out giving work to Bombardier (OTCQX:BDRAF -0.7%).
Fri, Sep. 23, 7:38 AM
- Boeing (NYSE:BA) is still studying whether to build a larger version of its best-selling 737 aircraft to counter runaway sales by Airbus of a large version of its competing plane.
- "We're looking at various alternatives... different varieties of engines, fuselage length," said Michael Teal, chief project engineer of the 737 MAX program. "It would enter service after the smallest version, the MAX 7, comes out in 2019."
- The A321neo can hold up to 240 passengers, compared with a maximum of 220 on the planned 737 MAX 9.
Thu, Sep. 22, 11:04 AM
- U.S. Trade Representative Michael Froman has declared "sweeping victory" in a long-running, multibillion-dollar trade dispute with the EU over subsidies to Airbus (OTCPK:EADSY), and urged the union to halt all subsidies "immediately."
- The U.S. said subsidized financing to Airbus amounted to almost $22B, and signaled it could seek to impose at least $7B in retaliatory tariffs.
- Sources told WSJ that the WTO in a future ruling is expected to find the U.S. similarly didn't sufficiently address concerns about subsidies benefiting Boeing (BA +1.1%).