Boeing Grounded By Bank Of America Downgrade

Boeing Co.

shares are trading lower by $2.68 at $129 in Wednesday's session. The catalyst for the sharp decline is a downgrade from Neutral to Underperform. The downgrade comes after the issue has backed off from the high of recent run from its February 11 low ($102.10) to its recent high at $136.78. That is well shy of its all time high that was made in February 2015 at $158.83. At this time, the issue is holding its early morning low of $128.49. It's early morning high ($130.10) is quite a distance from the lower-end of Tuesday's range at $132.21.