Investing.com – Stocks rose for the fourth day in the last five as investors were cheered by Boeing's hope to get its 737 Max jet back into the air and by gains in tech and retail stocks.
WASHINGTON (Reuters) - Boeing has been awarded a $999 million defense contract to replace the wings on A-10 close air support aircraft, the Pentagon said on Wednesday. The contract provides for up to 112 new A-10 wing assemblies and up to 15 wing kits, it said. (Reporting by David Alexander; Editing by Mohammad Zargham)
Hamel Associates Inc. raised its holdings in shares of Boeing Co (NYSE:BA) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,890 shares of the aircraft producer's stock after purchasing an additional 390 shares during the period. Boeing accounts for about 1.6% of Hamel Associates Inc.'s holdings, making the stock its 26th largest holding. Hamel Associates Inc.'s holdings in Boeing were worth $3,600,000 at the end of the most recent quarter. A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. NuWave Investment Management LLC grew its holdings
Boeing Co said on Tuesday it plans to add extra staff and hire “a few hundred” temporary employees at an airport in Washington state where it is storing many grounded 737 MAX jetliners, a key step in its best-case plan for resuming deliveries to airline customers in October. The world's largest planemaker, burning cash as one of the worst crises in its history stretches into a sixth month, said the workers will assist with aircraft maintenance and customer delivery preparations at Grant County International Airport. The hiring plans are the first publicly detailed steps Boeing will take as it works to deliver hundreds of grounded 737 MAX jets to airlines globally, an undertaking that would amount to one of the biggest logistical operations in modern civil aviation. Chicago-based Boeing has been unable to deliver any 737 MAX aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Indonesia and Ethiopia killed 346 people, cutting off a key source of cash and hitting margins.
The Boeing B-47 Stratojet represented a milestone in aviation history and a revolution in aircraft design. In fact it incorporated many advanced features for the time, including swept wings, jet engines in underwing pods, fuselage-mounted main landing gear and automated systems that reduced the standard crew size to three.Every large jet aircraft today is a descendant of the B-47.Thanks to all these features the Stratojet became an essential component of the U.S. Air Force’s Strategic Air Command (SAC) during the 1950s and early 1960s, both as a nuclear bomber and a reconnaissance aircraft.The B-47, which was developed to meet a 1944 requirement, began replacing the propeller-driven B-29s and B-50s in SAC’s medium bomber units in May 1951.Noteworthy while it could carry about the same bomb tonnage as the aircraft it replaced, the B-47’s top speed was more than 200 mph faster. Since the B-47 did not have the range of SAC’s heavy bombers (the B-36 and later the B-52), Stratojet units regularly deployed to forward air bases around the world on temporary duty.Initially these deployments lasted three months, but beginning in 1957 under the Reflex Action program, they were shortened to three weeks.In addition to its role as a nuclear strike bomber, the Stratojet’s speed and payload made it a useful strategic reconnaissance aircraft. Between 1952 and 1956, photographic reconnaissance B-47s conducted several overflights of the Soviet Union, providing detailed pictures of Soviet military and industrial facilities. Stratojets gathered intelligence about Soviet air defense systems and the Soviet intercontinental ballistic missile program. Weather reconnaissance versions of the B-47 not only collected weather data, but also took air samples of Soviet nuclear detonations. These essential RB-47 missions over and along the border of the Soviet Union were hazardous, and Soviet fighters damaged one reconnaissance Stratojet and shot down two, with the loss of seven USAF personnel killed and two temporarily imprisoned.Between 1947 and 1957, Boeing, Douglas and Lockheed built over 2,000 Stratojets. At its peak use in 1958, the USAF operated 28 B-47 bomb wings and four RB-47 reconnaissance wings, totaling 1,357 B-47s and 175 RB-47s.According to Robert Robbins, B-47 test pilot, “the best way to tell about the performance of the Stratojet was to say that any good crew could have flown it. It took no unusual ability or education. […] Rather, the credit should go to the men who carried out these visions on the drafting boards and the factory workers who made the visions a reality.”The USAF phased out its last B-47 bombers in 1965, and retired its last Stratojet, a WB-47E, in 1969.This first appeared in Aviation Geek Club here.
Analysts expect Boeing Co (NYSE:BA) to announce earnings of $2.33 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Boeing's earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $2.71. Boeing posted earnings of $3.58 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 34.9%. The business is scheduled to report its next earnings results on Wednesday, October 23rd. According to Zacks, analysts expect that Boeing will report full year earnings of $3.98 per share for the current financial year, with EPS estimates ranging from $2.70 to $5.30. For the next financial
The Pentagon is pulling the plug on a billion-dollar, technically troubled project to build a better weapon that would destroy incoming missiles. The move is aimed in part at considering new approaches to missile defense at a time of rapid technological change. The announced reason for canceling the Boeing contract, effective Thursday, was that the project's design problems were so significant as to be either insurmountable or too costly to correct.
Union wins first step against Boeing over fired workers A federal official is making Boeing defend itself against charges that it illegally fired workers for supporting a union at its South Carolina assembly plant. The regional director of the National Labor Relations Board ruled that there is enough merit to send the cases to trial in front of an administrative law judge. The International Association of Machinists and Aerospace Workers claims six workers were wrongly fired — five in retaliation for supporting the union — and others were disciplined at the plant in North Charleston, where employees build the Boeing 787. The federal official found no merit in a union claim over a Boeing training
(RTTNews) - Boeing has delivered the first 787-10 Dreamliner to Vietnam Airlines, the flag carrier of Vietnam, as part of the eight 787-10 Dreamliner airplanes to be delivered on lease through Air Lease Corp. Vietnam Airlines said the 787-10 Dreamliner, claimed by Boeing to be the most fuel-efficient twin-aisle airplane in the industry, will help it raise the customer experience on the Hanoi to Ho Chi Minh route as well as many international routes. Vietnam Airlines already operates an existing fleet of 787-9 jets. The airline is outfitting the 787-10 models with 367 seats, 24 in business class and 343 in economy class. The 787-10 also offers Asian operators the flexibility to fly to Europe,