Why Is Boeing Stock Soaring On Monday?
Portfolio Pulse from Shivani Kumaresan
Boeing Co (NYSE:BA) shares are trading higher after a Reuters report indicated that its executives are unlikely to face criminal charges over the fatal crashes in 2018 and 2019. The five-year statute of limitations for prosecuting most federal crimes has likely expired. Boeing has until June 13 to present any disagreements with the Justice Department's findings, which will decide by July 7 whether to prosecute, extend the DPA, or pursue other options. Boeing stock has lost more than 14% in the last 12 months, but shares are up 2.27% on Monday.
June 03, 2024 | 5:19 pm
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POSITIVE IMPACT
Boeing shares are trading higher after a Reuters report indicated that its executives are unlikely to face criminal charges over the fatal crashes in 2018 and 2019. The five-year statute of limitations for prosecuting most federal crimes has likely expired.
The news that Boeing executives are unlikely to face criminal charges removes a significant legal overhang, boosting investor confidence and driving the stock price higher.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Boeing stock via IShares U.S. Aerospace & Defense ETF (BATS:ITA), which may see positive movement due to Boeing's stock rise.
As Boeing's stock rises, ETFs like IShares U.S. Aerospace & Defense ETF that hold Boeing shares are likely to see positive movement.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
Investors can gain exposure to Boeing stock via Invesco Aerospace & Defense ETF (NYSE:PPA), which may see positive movement due to Boeing's stock rise.
As Boeing's stock rises, ETFs like Invesco Aerospace & Defense ETF that hold Boeing shares are likely to see positive movement.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 30
NEGATIVE IMPACT
A panel blew off a new Boeing 737 MAX 9 jet during a January 5 Alaska Air Group Inc (NYSE:ALK) flight, raising concerns about ongoing safety and quality issues.
The incident involving a Boeing 737 MAX 9 jet during an Alaska Air flight raises safety concerns, which could negatively impact Alaska Air's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 50