Why Boeing Stock Just Dropped
Shares of Boeing (NYSE: BA) are slumping today, down by 2.3% as of 11:20 a.m. The plane manufacturer was the subject of a cautious note issued by an analyst yesterday, apparently raising concerns among investors. Bank of America's note commented on a Wednesday report that American Airlines' Allied Pilots Association is opposing moves to exempt Boeing from a requirement that it install "modern cockpit alerting" systems in its Boeing 737 MAX 7 and MAX 10 airplanes in order to receive certification from the Federal Aviation Administration (FAA). As Reuters explains, unless the FAA certifies the MAX 7 and MAX 10 for flight by December, the new cockpit alert requirements will kick in for Boeing.
