Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Thursday, July 24, 2008 Boeing stock plummets on analyst's downgrade Labor negotiations, defense cuts, 787 risks concern Wall Street Herald staff The Boeing Co.’s stock has dropped nearly 6.5 percent Thursday, just a day after company officials reaffirmed Boeing’s financial outlook. An analyst from Cowen & Co. cut Boeing’s rating to neutral from outperform on Thursday forcing down Boeing’s stock by roughly $4.34 to $62.38. The analyst cited concerns over Boeing's commercial order exposure as well as risk to its defense programs. The broker also worried about the impact upcoming labor negotiations could have on Boeing. Ongoing risk with Boeing's 787 jet program factored into the analyst's downgrade as well. The move comes a day after Boeing reported lower than expected second quarter results. The aerospace giant’s stock on Wednesday closed down 3.77 percent. Boeing’s stock edged toward its 52-week low of $62.02, on July 15.

1. Big rig crash shuts down 41st Street onramp to I-5 2. Race for governor will be another close fight 3. Here's your 12-day Evergreen State Fair planner 4. IRS attempts to seize homes of Arlington woman accused of embezzlement 5. Longtime Herald photographer Jim Leo honored with lights and sirens 6. The Herald restructures, cuts 10 jobs 7. Big workload for Frye 8. Everett Guard members prepare for deployment to Iraq 9. Incumbent Eric Lucas holds slim lead over David Hulbert in Snohomish County Superior Court race 10. Rep. Rick Larsen and former sheriff Rick Bart advance in 2nd Congressional District race 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

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