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. Boeing, Machinists union agree to talks 2. Crash injures 1, blocks highway near Granite Falls 3. Meridian Yachts to shut down; hundreds to lose jobs 4. 'Opus' creator to retire from drawing comic strips 5. Supreme Court ruling clears way for Dwayne Lane's Island Crossing plans 6. Few answers in fatal Snohomish fire 7. Horizon's request is no worry to Allegiant 8. U.S. 2 trestle to be closed Friday night 9. Fixes for Lake Stevens bus policy satisfy parent 10. Vikings' Dickinson practices, doubtful for showdown with M-P 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

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