Boeing - The Day After SEC Probe Into Accounting

Boeing Co.

shares are trading higher by $0.40 at $108.94 in Friday's session. The issue posted one its daily performances in years after it was revealed an SEC probe into the company's accounting. There is nothing like "accounting issues" that will have investors heading for the exit. On Thursday, the issue nosedived to $102.10 before recovering to end the session at $108,44. Off the open, the issue tumbled to $105, following a JP Morgan downgrade from Oveweight to Neutral. However, shorts used the downgrade to cover and instigated a rally beyond the close to $109.48. Boeing has had a horrible 2016, compared to the S&P 500 index. For the year, it is lower by 25 percent compared with index's decline of 7 percent.