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Boeing stock gains more than 1% on Wednesday. On Tuesday, the announced return to 737 Max production pushed shares up 4.5%. Monday saw Boeing announce 400 layoffs in Washington State. For the first time since August, BA stock overtakes 100-day moving average.   Boeing (BA) stock made further gains on Wednesday, one day after the aerospace leader saw shares jump 4.5% as a long-running employee strike ended. BA stock had gained about 2% near lunchtime in New York but closed the day up 1.13%. The Dow Jones Industrial Average (DJIA), which hosts Boeing as one of the 30 companies included in its price-weighted index, fell 0.22% even as the tech-heavy NASDAQ surged 1.77%. The difference in performance stems from UnitedHealth Group (UNH), the Dow’s largest holding, face-planting after the US Senate took up a bill to force health insurers to sell off their pharmacy benefit managers. Boeing stock news More than a month following the end of the long strike by 33,000 machinists, Boeing announced on Tuesday that it has relaunched production of its best-selling 737 Max. Shares shot up on the move, and there is reason to believe that a return to normality may push the rally to continue. Boeing has a long road ahead of it to ramp up production to deliver 38 finished 737s per month, its goal before the strike started in September. Regulators at the US Federal Aviation Administration capped the number of 737 Max models that Boeing can produce per month back in January following the Alaska Airlines incident in which a door plug blew out of a 737 Max 9. Boeing has 4,200 bookings for 737 Max aircraft it is yet to deliver. The strike by the International Association of Machinists (IAM) lasted seven weeks and was the costliest US strike in a…

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Filed under: News - @ December 12, 2024 5:27 am