Boeing battered again on Wall Street

Published 1:46 pm Wednesday, June 24, 2009

Another day, another decline in Boeing shares ..

Wall Street still was seething the day after Boeing announced another delay to its already tardy 787 Dreamliner jet.

Boeing’s stock dropped 5.8 percent, or $2.55, today to close at $41.32.

That’s on top of Tuesday’s decline of $3.03, nearly 6.5 percent. The company’s stock closed Tuesday at $43.87.

This morning, Morgan Stanley downgraded Boeing’s stock, saying it doesn’t believe Boeing will deliver the Dreamliner until 2011 – that’s a minimum nine months later than what Boeing promised (end of first quarter 2010) before this most recent setback.

The Dreamliner’s troubles aren’t solely responsible for Boeing’s Wall Street woes.

The Army put an end to the Boeing-led Future Combat Systems, headed up by the company’s Integrated Defense Systems. And Sea Launch Co., a satellite launch services provider in which Boeing has 40 percent stake, filed for bankruptcy earlier this week.

After Boeing’s latest delay, when will the company fly its 787?(online surveys)