Boeing Eyes $15B Fundraise As It Struggles Due To Strikes And Mounting Losses: Report
Portfolio Pulse from Benzinga Neuro
Boeing Co. is planning to raise over $15 billion through common stock and convertible preferred shares to strengthen its financial position amid ongoing strikes and losses. The company faces challenges including a machinists' strike affecting 737 MAX production and regulatory scrutiny. Despite a $6 billion quarterly loss, Boeing secured a $10 billion credit agreement with major banks. A Goldman Sachs analyst remains optimistic about Boeing's long-term prospects, maintaining a Buy rating on the stock.
October 28, 2024 | 11:22 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Boeing is planning a $15B capital raise to address financial pressures from strikes and losses. The company is also considering asset sales to stay competitive. Despite challenges, a Goldman Sachs analyst maintains a Buy rating on Boeing.
Boeing's decision to raise $15B is a significant move to address its financial challenges, including a $6B quarterly loss and ongoing strikes. The capital raise, along with potential asset sales, indicates proactive steps to stabilize finances. The reaffirmed Buy rating by a Goldman Sachs analyst suggests confidence in Boeing's recovery, contributing to a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100