Boeing posts solid Q4 profit but stumbles on jet delivery forecast
Washington
BOEING Co fell the most in 14 years after its forecast for declining jetliner deliveries and less-than-expected profit caught analysts off guard and stoked concerns that demand for new planes is waning amid global economic turmoil.
The company was the worst performer among the 30 members of the Dow Jones Average even though its fourth-quarter profit exceeded estimates by a wide berth. The stock plunged 8.9 per cent to US$116.58 at the close in New York, the steepest decline since October 2001.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US