Why Shares of Boeing Are Falling Today

Shares of Boeing (NYSE: BA) fell nearly 5% on Tuesday after the company released first-quarter commercial order and delivery information, including the cancellation of 150 orders for 737 MAX aircraft. It's by now obvious that the COVID-19 pandemic has had a profound effect on Boeing's business, but these numbers are fresh evidence that the impact will be long-lasting.

Boeing on Tuesday said customers had canceled orders for 150 MAX jets in March. Net cancellations spread over all programs for the month totaled 119, thanks to Boeing booking a few new orders for larger aircraft and for military planes.

For the year, Boeing has now recorded net cancellations of 307 planes.

Source Fool.com