BA Stock Falls But Boeing Deliveries Grow Ahead Of Paris Air Show
Boeing (BA) disclosed that deliveries rose in May while preparing to showcase its newest commercial jets at the Paris Air Show next week. BA stock tested a buy point Tuesday, while Airbus (EADSY) topped an entry.
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Boeing To Debut Newest Commercial Jets
The Dow Jones giant confirmed Monday that it will debut the Boeing 737 Max 10 and the Boeing 777-9, its newest commercial jets, during the weeklong air show. The event kicks off Sunday and concludes June 25.
On Tuesday, Boeing reported 50 deliveries last month, rising from 35 in April. Its 206 deliveries so far this year trail 244 for archrival Airbus, as production woes persist.
The Bestselling Jet For BA Stock
The 737 Max, a narrowbody, is Boeing's bestselling jet. The 777-9 is a successor to its top-selling widebody aircraft. It borrows advanced technologies from the 787 Dreamliner, Boeing says.
Recently, the Dow Jones aerospace giant paused or slowed both 737 and 787 deliveries due to manufacturing issues.
On Sunday, Boeing will also release its 2023 commercial market outlook.
Rival Airbus is also expected to showcase several of its most innovative aircraft.
Those are likely to include the latest members in the Airbus A321 family, a narrowbody rival to the Boeing 737 Max. It should also include the newest variations in the A330 and A350 families, widebody rivals to the Boeing 777 and 787.
BA Stock Action
Shares fell 0.5% to 220.38 on the stock market today. BA stock topped a 221.33 buy point from a flat base on Monday but closed below the entry Tuesday. Boeing stock cleared an early entry on June 8.
The Dow stock last broke out in November 2022 after it forecast rising jet deliveries.
Airbus shares gained 0.9% to 35.10 Tuesday. EADSY stock cleared a 34.85 buy point from a shallow double-bottom base.
Paris Air Show
The biennial Paris Air Show, one of the world's oldest and largest, returns after a four-year hiatus. It was canceled in 2021 due to the Covid-19 pandemic.
Boeing and other airplane manufacturers plan to meet with customers. They are likely to announce new orders during the event.
The company seeks to ramp up Max output following fatal plane crashes in 2018-19.
In Q1, Boeing delivered 130 airplanes, beating rival Airbus by three jets. Deliveries jumped almost 27% vs. a year ago, as demand rebounds across the industry.
But in April, Boeing said 737 Max deliveries will slow due to an issue with fuselages built by Spirit AeroSystems (SPR).
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Source: Investor's Business Daily
