Boeing (BA) NewsBite - BA Falls on New 787 Delay

Posted: Tuesday, June 23, 2009 9:56 AM EDT

Boeing (NYSE: BA) opened at $44.39. So far today, the stock has hit a low of $43.55 and a high of $44.50. BA is now trading at $44.00, down $2.90 (-6.18%). Over the last 52 weeks the stock has ranged from a low of $29.05 to a high of $76.48. Shares of BA are declining this morning after the company postponed the first flight of its 787 Dreamliner to reinforce an area within the side-of-body section of the aircraft. The maiden voyage of the plane is already two years behind its original schedule. Technical indicators for the stock are neutral and S&P gives BA a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on BA the stock seems like it could be a candidate for an August out-of-the-money bear-call credit spread above the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]

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