Spirit AeroSystems and Boeing Stocks Are Falling Premarket - Here's Why
Portfolio Pulse from Vandana Singh
Spirit AeroSystems employees, represented by the International Association of Machinists and Aerospace Workers, have decided to strike, causing factory production suspension. This will impact Boeing, as the plant produces 70% of its narrow-body aircraft and defense and business jet structures. Both Boeing and Spirit AeroSystems stocks are falling in response to the news.
June 22, 2023 | 11:36 am
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NEGATIVE IMPACT
Boeing will be impacted by the Spirit AeroSystems strike, as the plant produces 70% of its narrow-body aircraft and defense and business jet structures. BA shares are down 3.46% at $204.75 during the premarket session.
Boeing relies on the Spirit AeroSystems plant for 70% of its narrow-body aircraft and defense and business jet structures. The strike and production suspension will impact Boeing's production, causing a drop in its stock price during the premarket session.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Spirit AeroSystems employees' strike will suspend factory production, negatively impacting full-year gross profit by $31 million. SPR shares are down 9.16% at $26.96 during the premarket session.
The strike by Spirit AeroSystems employees will suspend factory production, which will negatively impact the company's full-year gross profit by $31 million. This has led to a drop in the stock price during the premarket session.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100