01.05.2020 Boeing Daily Analysis

01.05.2020 Boeing Daily Analysis

Boeing is trading at $141.02 today it went up with $2.02. This is mainly because investors pushed the shares despite the quarterly loss.  Boeing shares haived through 202 due to the coronavirus pandemic which halted the plane sales and curbed its production pipeline.  Boeing announced that during the first quarter  it burned through $4.3 billion in cash  and ended up losing $641 million which is its second profit shortfall in five years. Boeing pointed out that they will cut its plane segment and 10% of its workforce. Nonetheless Ryanair today announced that it has begun negotiations with Boeing on grounding more than 99% of its flights until July and cutting the number of aircraft deliveries over the next 24 months. The airliner is of the view that it would take at least two years for passenger demand to return to normal and this could result in the loss of up to 3000 mainly pilot and cabin crew jobs. More so, NASA announced that it will be cutting out Boeing from the spaceflight effort deals to blow to the aerospace giants space wing which for decades has been a key International Space Station contractor and more recently a secondary provider in NASA's efforts to launch humans to the station under its Commercial Crew Program. However NASA did not specify the reason for the removal of Boeing and other companies as bidders but it is of important to note that NASA in recent months has been quicker to call out Boeing for its fumbles on various agency programs, such as delays in its heavy-lift rocket Space Launch System that remains years behind schedule, billions over budget and has suffered dozens of engineering setbacks.