Shares of Boeing (NYSE: BA) fell more than 5% on Monday morning following a series of analyst downgrades and speculation about potential cuts. The aerospace giant is still struggling to get out from under a crisis stemming from issues with its 737 MAX, which deepened last week after reports surfaced suggesting company employees misled the Federal Aviation Administration.
Boeing's hot-selling 737 MAX was grounded back in March after the plane was involved in a second fatal crash, and in the months since, the company has been working with regulators to refine the plane's flight control systems that were blamed for the incidents. The company was dealt a fresh blow last Friday after Reuters reported Boeing had turned over instant-message exchanges from 2016 that implied the company was not totally forthcoming with the FAA in regard to the system now being scrutinized.
Image source: Boeing.
Source Fool.com