The Boeing Company (NYSE:BA) shares are trading lower on Wednesday. The company is anticipated to release earnings next week on July 31 before the market opens.
What To Know: For the 2024 fiscal year second quarter, analysts estimate a loss of $1.76 per share and revenue of $17.26 billion.
Boeing stock traded higher on Tuesday, at a price of about $185.17, after Boeing received an order for 20 777-9 planes from Qatar Airlines. Macquaire AirFrance also ordered 20 737-8 MAX jets.
In early July, Boeing signed a plea deal with the Department of Justice where it agreed to plead guilty to criminal charges, pay a $243.6 million fine and invest $455 million into its safety and compliance programs. The case stems from two 737 MAX crashes from years prior that killed 346 people.
The Department of Justice originally offered Boeing a settlement agreement which allowed Boeing to avoid prosecution. The justice department claims that Boeing violated the settlement agreement. Prosecutors then decided to file criminal charges against the company.
In January, a door flew off an Alaska Airlines operated Boeing 737 MAX Jet during flight. The incident led to the Federal Aviation Administration (FAA) grounding 171 Boeing MAX 9 jets for the majority of January. In addition, the FAA started an audit of Boeing's production process and the incident led to a slowdown in deliveries of Boeing MAX 9 jets.
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BA Price Action: As of Wednesday morning, Boeing stock is trading down 1.71% at $183.29 per data from Benzinga Pro.
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