Why Boeing Stock Dropped 6% This Morning
It's been a rough week for investors in Boeing (NYSE: BA). Stocks everywhere are falling today, but for Boeing, Wednesday marks the third day in a row that its share price is down. At $137 and change as of 12:45 p.m. EDT, Boeing stock was off 2.4% today (after being down nearly 6% earlier in the day) and was down more than 9% since the end of last week.
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On Tuesday, Boeing reported its final tally of orders taken and orders canceled for the month of March and year-to-date. Boeing collected firm orders for 49 aircraft in the first quarter of this year: a mix of 737s, 767s, and 787s. But the company also lost 196 orders due to cancellations, and had to advise investors that due to the potential insolvency of its airline customers, a further 160 orders for aircraft had to be withdrawn from its backlog due to uncertainty that the planes will actually be delivered.
Source Fool.com