Boeing stock to blame for more than half of the Dow's pre-open loss

3 months ago 28
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Share of Boeing Co. BA, -3.16% dropped 2.2% to gait the Dow Jones Industrial Average's DJIA, -0.05% premarket losers, aft the aerospace and defence elephantine reported disappointing second-quarter deliveries and announced further delays successful delivering its 787 jets. The stock's implied terms nonaccomplishment would shave astir 32 points disconnected the Dow's price, portion Dow futures YM00, -0.08% were precocious down 62 points, oregon 0.2%. Boeing said earlier Tuesday that it delivered 79 craft successful the 2nd quarter, with expert Robert Stallard astatine Vertical Research Partners saying that fig was "way below" his forecast of 128. Stallard said Boeing's announcement that 787 accumulation complaint volition beryllium "temporarily little than 5 per month" is important arsenic that "ripples down done the proviso concatenation -- and the proviso concatenation cannot conscionable beryllium turned connected and disconnected similar a switch." Boeing's banal has already shed 5.9% implicit the past 3 months done Monday, portion the Dow has gained 3.9%.

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