Boeing's Cash Flow Goal May Be Pushed Back, Wells Fargo Says While Lowering Outlook
Portfolio Pulse from Michael Juliano
Wells Fargo has downgraded Boeing's stock, citing potential delays in achieving its cash flow target and significant debt issues. Boeing's shares fell over 8%, impacting related aerospace and defense ETFs.
September 03, 2024 | 10:26 pm
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NEGATIVE IMPACT
Wells Fargo downgraded Boeing to Underweight, citing potential delays in cash flow targets and significant debt. Boeing's shares fell over 8% following the downgrade.
Wells Fargo's downgrade and concerns about Boeing's cash flow and debt have directly impacted its stock price, causing a significant drop.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Direxion Daily Aerospace & Defense Bull 3X Shares dropped 10.31% as a result of Boeing's stock decline, indicating high sensitivity to Boeing's performance.
The leveraged nature of DFEN makes it highly sensitive to Boeing's stock movements, resulting in a significant drop.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Gabelli Commercial Aerospace and Defense ETF dipped 2.69% due to Boeing's stock decline, reflecting its exposure to Boeing.
Boeing's stock decline affected the Gabelli Commercial Aerospace and Defense ETF, which has exposure to Boeing.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The iShares U.S. Aerospace & Defense ETF fell 3.42% following Boeing's stock decline, as Boeing is a significant component of the ETF.
Boeing's stock decline negatively impacted the iShares U.S. Aerospace & Defense ETF, as Boeing is a major holding.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
First Trust Indxx Aerospace & Defense ETF slid 2.73% following Boeing's stock decline, reflecting its exposure to Boeing.
Boeing's stock decline negatively impacted the First Trust Indxx Aerospace & Defense ETF, which includes Boeing.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Invesco Aerospace & Defense ETF lost 2.98% due to Boeing's stock decline, indicating its exposure to Boeing.
Boeing's stock decline affected the Invesco Aerospace & Defense ETF, which has significant exposure to Boeing.
CONFIDENCE 90
IMPORTANCE 65
RELEVANCE 75