Boeing’s order cycle sees peak, analyst says

At noon PST, the Boeing Co.’s stock had dropped more than 3 percent to$85.47. The decline came after a Wachovia analyst downgraded the company’s shares from “Outperform” to “Market Perform.” Analyst Joe San Pietro told the Associated Press that he downgraded Boeing’s shares for two reasons. First, he’s unconvinced that the 787 program is progressing as smoothly as Boeing officials maintain. Secondly, he believes the industry has hit its peak in terms of orders, based on order cycles over the past 20 years.

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