Previous close | 10.50 |
Open | 8.90 |
Bid | 8.30 |
Ask | 10.15 |
Strike | 210.00 |
Expiry date | 2025-09-19 |
Day's range | 8.50 - 9.80 |
Contract range | N/A |
Volume | |
Open interest | 61 |
As 33,000 Boeing (BA) union workers take to the picket line and go on strike, rating agencies warn that a prolonged strike could result in a downgrade for the company. Gabelli Funds portfolio manager Tony Bancroft joins Market Domination hosts Julie Hyman and Josh Lipton to discuss what the strike means for the company and its investors. “We continue to believe in the secular thesis of the growth story of commercial aerospace and Boeing being, you know, a large participant in that,” Bancroft says. “In the near term, there's a lot of volatility going on right now,” since “this strike has made it unclear of the timeline to get the production rates back,” but in Bancroft’s view, the portfolio manager tells Yahoo Finance this event will be "more of a blip." While it’s difficult to measure the exact financial impact of the strike, Bancroft estimates the work stoppage will result in a loss of around $100 million for the company per day of the strike. “The best thing they can do right now is get the production in line and start that growing again.” The “Machinist Union makes great planes, Boeing makes great planes,” and “the airlines in the commercial aerospace industry need these planes," Bancroft lays out. The Boeing workers are represented by the International Association of Machinists (IAM) union, Districts 751 and W24. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Naomi Buchanan.
We recently published a list of Jim Cramer Thinks These 10 Stocks Deserve Your Attention. In this article, we are going to take a look at where The Boeing Company (NYSE:BA) stands against other stocks that Jim Cramer thinks deserve attention. In a recent episode of Mad Money, Jim Cramer advised investors to hold off on […]
Ryanair Group CEO Michael O'Leary said on Saturday a prolonged Boeing workers' strike may cut the number of aircraft it receives by next summer to 20 from an anticipated 25. O'Leary said his low-cost Irish airline, one of Boeing's largest customers, was supposed to receive 30 737 MAX aircraft before summer 2025 but Boeing's operational issues had already brought that number down to 25. But now, with this week's Boeing's workers' strike further threatening the airplane maker's turnaround, O'Leary said Ryanair might only receive 20 planes if the strike continues for three to four weeks.