The world’s largest aerospace company is celebrating its 100th anniversary this year. So far it’s off to a turbulent centennial: the company’s stock price has dropped 20% from an all-time high of nearly $160 per share in Feb. 2015. Investors are trepidatious after the company, which generates about two-thirds of its revenue from its commercial business and the rest from defense contracting, said it would deliver 740 to 745 commercial aircraft this year–less than the record 762 it delivered last year. The company also said it would lay off 4,000 workers in an effort to cut costs and that it would earn less than expected this year. Low oil prices have softened customer demand for the company’s latest and more fuel-efficient plane models, such as its costly 787 Dreamliner. Competition from rivals Airbus Group and Bombardier pose a threat to its lucrative single aisle 737 jetliner business. Meanwhile, the SEC is investigating multple years of the company’s accounting and financial filings.
News about Boeing
The stock crushed the Dow Jones industrial average--with some help from retirement savers.
The leaders of Canada and Mexico convinced him to renegotiate it instead.
Boeing accuses the Canadian jet maker of dumping its CSeries jets in the U.S. well below cost.
Many U.S. companies have been tightfisted about investing in new plants and equipment.
China, the world's top producer and consumer of the metal, is seriously concerned by the probe.
Videos about Boeing
Dennis Muilenburg called it “very productive.”
The completion of the airliner is a big step in China's plan to become a major aircraft manufacturer.