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Boeing

Boeing is a major aerospace and defense firm. It operates in three segments: commercial airplanes; defense, space, and security; and Global services. Boeing's commercial airplanes segment competes with Airbus in the production of aircraft that can carry more than 130 passengers. Boeing's defense, space, and security segment competes with Lockheed, Northrop, and several other firms to create military aircraft, satellites, and weaponry. Global services provides aftermarket support to airlines.

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Elon Musk, CEO of Tesla Inc. and SpaceX, took to X on Thursday to criticize the Federal Aviation Administration for penalizing SpaceX while neglecting safety issues at Boeing.

Elon Musk Blasts FAA For Targeting SpaceX Over &#39;Petty Matters,&#39; While Ignoring Boeing&#39;s Safety Issues: This &#39;Puts Human Lives At Risk&#39;

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Boeing Braces For Turbulence As Strikes, Furloughs Send Stock Sliding, Bearish Signals Prevail

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Boeing has started temporary furloughs for thousands of employees as it grapples with the financial impact of a machinists union strike.

Boeing Enforces Temporary Furloughs Amid Strike, CEO Kelly Ortberg Announces &#39;Difficult Steps&#39; Like Pay Cuts As $1B Weekly Loss Looms

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Elon Musk, CEO of Tesla Inc. and SpaceX, took to X (formerly Twitter) on Thursday to criticize the Federal Aviation Administration for <a href="https://www.benzinga.com/news/24/09/40935722/spacex-ceo-elon-musk-says-anyone-can-go-to-mars-with-spacex-but-journey-would-be-like-a-long-sea-voy">penalizing SpaceX while neglecting safety issues</a> at Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).
What Happened: According to Musk&#8217;s post, the FAA has been focusing on &#8220;petty matters&#8221; concerning SpaceX, instead of addressing significant safety concerns at Boeing. He stated that this misallocation of resources endangers human lives.
Musk referenced a letter from SpaceX to Congress, highlighting the FAA&#8217;s inability to keep pace with the commercial spaceflight industry. The letter was addressed to key members of the U.S. Congress, including Rep. Frank Lucas (R-Okla.) and Rep. Zoe Lofgren (D-Calif.), Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) and Senate Commerce Committee Chair&nbsp;Maria Cantwell&nbsp;(D-Wash.).
SpaceX&#8217;s letter detailed alleged violations cited by the FAA, including the use of an unapproved propellant farm and an updated communications plan. SpaceX denied these allegations, asserting that the FAA&#8217;s actions were untimely and unrelated to public safety.
&#8220;This is deeply wrong and puts human lives at risk,&#8221; Musk wrote. 
The letter also pointed out that the FAA had approved the same propellant farm for other launches, questioning the consistency of the agency&#8217;s safety determinations. SpaceX emphasized its commitment to safety and criticized the FAA for its inefficiencies.
Musk&#8217;s post concluded with a call for change, stating, &#8220;Enough is enough,&#8221; and urging Congress to address the FAA&#8217;s shortcomings.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">SpaceX letter to Congress. The <a href="https://twitter.com/FAANews?ref_src=twsrc%5Etfw">@FAANews</a> leadership spends their resources attacking <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> for petty matters that have nothing to do with safety, while neglecting real safety issues at Boeing. This is deeply wrong and puts human lives at risk. NASA deemed the Boeing capsule… <a href="https://t.co/Y3A2F6xcv1">https://t.co/Y3A2F6xcv1</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836923457960919224?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/09/40892013/spacex-ceo-elon-musk-says-canadian-government-is-funding-starlink-rival-for-satellite-internet-despi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">SpaceX CEO Elon Musk Says Canadian Government Is Funding Starlink Rival For Satellite Internet Despite His Offer To Do It For &#8216;Less Than Half That Amount&#8217; As It Wants Its &#8216;Own System&#8217;</a>
Why It Matters: The recent criticism from Musk comes amid ongoing tensions between SpaceX and the FAA. On Thursday, Musk accused the FAA of imposing a $633,009 fine on SpaceX for regulatory violations, suggesting that the agency shows <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">favoritism towards Boeing</a>.
Musk&#8217;s comments were in response to a post by Mario Nawfal, who criticized the FAA&#8217;s actions against SpaceX. Musk questioned why Boeing was not fined despite NASA deeming their spacecraft unsafe for returning astronauts. 
Musk stated, "Amazingly, no Starliner fines for Boeing! The FAA space division is harassing SpaceX about nonsense that doesn&#8217;t affect safety while giving a free pass to Boeing even after NASA concluded that their spacecraft was not safe enough to bring back the astronauts."
Additionally, SpaceX <a href="https://www.benzinga.com/news/24/09/40932353/spacex-continues-to-prepare-for-future-starship-flights-despite-delays-in-faa-launch-clearance-elon">continues to prepare for future Starship flights</a> despite delays in FAA launch clearance. On Thursday, SpaceX tested the engines of its Starship launch vehicle for its sixth flight test, even while its fifth flight's timeline remains uncertain. 
In a broader context, SpaceX has been making significant <a href="https://www.benzinga.com/news/24/09/40916098/elon-musks-spacex-launches-90th-mission-in-2024-with-over-a-third-of-launch-target-still-to-go">strides in its mission goals</a>. On Wednesday, the company launched its 90th mission for the year with a Falcon 9 rocket, which carried the European Commission&#8217;s Galileo L13 mission to medium Earth orbit from Florida. Despite these achievements, SpaceX still has over a third of its launch target for the year yet to go.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;I&#8217;d Buy It In A Heartbeat&#8217;</a></li>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk Blasts FAA For Targeting SpaceX Over 'Petty Matters,' While Ignoring Boeing's Safety Issues: This 'Puts Human Lives At Risk'

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Shares of companies in the broader industrial space are trading higher following the Fed's announcement to cut rates by 50 basis points yesterday, which could support investment and economic growth.

Boeing Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) stock is flying low as the company battles a machinist strike that has forced tens of thousands of workers <a href="https://www.benzinga.com/quote/BA/news">off the job</a>. 
In a bid to cut costs, Boeing <a href="https://www.benzinga.com/markets/equities/24/09/40931613/boeing-enforces-temporary-furloughs-amid-strike-ceo-kelly-ortberg-announces-difficult-steps-like">has furloughed thousands</a> of U.S. employees, executives, and non-essential contractors. CEO Kelly Ortberg confirmed the furloughs in a memo, adding that these steps are necessary to preserve cash amid the ongoing labor disruption.
The strike began after more than 30,000 machinists in Seattle and Oregon rejected Boeing's latest contract offer, with 96% voting to walk off. Despite a 25% raise on the table, workers argued the offer failed to match the skyrocketing cost of living in the Seattle area. Negotiations remain tense, and the union's frustration is mounting.
<h2 class="wp-block-heading">Boeing Chart Suggests Turbulence Ahead</h2>
Boeing's stock price has been unable to lift off amid this chaos. At $155.30, BA is below its five, 20, and 50-day exponential moving averages (EMAs), signaling a strong bearish trend.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="623" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105209/Screenshot-2024-09-19-at-8.21.18-PM.png" alt="" class="wp-image-556505" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105209/Screenshot-2024-09-19-at-8.21.18-PM.png 623w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105209/Screenshot-2024-09-19-at-8.21.18-PM-300x219.png 300w" sizes="(max-width: 623px) 100vw, 623px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The eight-day simple moving average, at $157.91, and the 20-day SMA, at $164.06, all signal more downside ahead.
Additional dark clouds hover as the 50-day SMA is at $172.00, while the 200-day SMA sits at $192.33, indicating that Boeing's stock is technically bearish across the board.
Read Also: <a href="https://www.benzinga.com/news/24/09/40886979/boeing-stock-continues-to-fall-after-announcing-hiring-freeze-other-cost-cuts-amid-workers-strike">Boeing Stock Continues To Fall After Announcing Hiring Freeze, Other Cost Cuts Amid Workers&#8217; Strike</a>
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="623" height="454" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105213/Screenshot-2024-09-19-at-8.21.32-PM.png" alt="" class="wp-image-556506" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105213/Screenshot-2024-09-19-at-8.21.32-PM.png 623w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/19105213/Screenshot-2024-09-19-at-8.21.32-PM-300x219.png 300w" sizes="(max-width: 623px) 100vw, 623px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091924&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
The MACD (Moving Average Convergence/Divergence) is a negative 4.85, reinforcing the bearish momentum.
Boeing stock is currently nearing oversold territory, with an RSI of 36.57, indicating the potential for some short-term relief. However, this offers little comfort to investors at the moment.
Even the Bollinger Bands ($150.30 &#8211; $182.72) scream bearish, with Boeing stock trading in the lower band, signaling continued pressure.
As Boeing navigates this turbulence, investors may need to brace for further dips before clear skies return.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">Elon Musk Said SpaceX Competitors Only &#8216;Take Up Less Than We Do, And They Take Nothing Down, And They Get Paid Twice As Much&#8217; — 10 Years Later, Its Rival In Space Boeing Has Frozen Hiring And Is Weighing Furloughs</a></li>
</ul>
Photo: Shutterstock

<a href="https://www.defense.gov/News/Contracts/Contract/Article/3910169/" title="https://www.defense.gov/News/Contracts/Contract/Article/3910169/">https://www.defense.gov/News/Contracts/Contract/Article/3910169/</a>

Contracts

Reported September 18; Boeing Awarded $29.5M Contract For F/A-18 E/F Black III Windshield Panel Spares, Work To Be Completed By December 2029

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has started temporary furloughs for thousands of employees as it grapples with the financial <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">impact of a machinists union strike</a>.
What Happened: In a memo to employees, Boeing CEO Kelly Ortberg stated that the furloughs, affecting U.S.-based executives, managers, and employees, will occur one week out of every four until the strike concludes. Ortberg and his leadership team will also take pay cuts, The Washington Post <a href="https://www.washingtonpost.com/transportation/2024/09/18/boeing-furloughs-machinists-strike/">reported</a> on Wednesday.
"With production paused across many key programs in the Pacific Northwest, our business faces substantial challenges and it is important that we take difficult steps to preserve cash and ensure that Boeing is able to successfully recover," Ortberg stated. 
The strike, initiated by the 33,000-member International Association of Machinists and Aerospace Workers, began after rejecting Boeing&#8217;s offer. The union demands a 40% pay increase and the reinstatement of a pension program.
Despite the furloughs, work critical to quality, customer support, and key certification programs will continue. Production of the 787 jet in South Carolina remains unaffected.
Analysts estimate the strike could cost Boeing $1 billion weekly. The company could burn through $3.5 billion in cash if the strike extends through September, according to Bloomberg Intelligence.
Boeing&#8217;s financial measures include a hiring freeze, reduced capital and supplier spending, and an end to nonessential travel. The strike is the first by Boeing machinists in 16 years, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40893386/elon-musk-and-oracles-larry-ellison-begged-jensen-huang-for-nvidia-gpus-at-a-dinner-please-take-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk And Oracle&#8217;s Larry Ellison &#8216;Begged&#8217; Jensen Huang For Nvidia GPUs At A Dinner: &#8216;Please Take Our Money&#8217;</a>
Why It Matters: The strike&#8217;s origins trace back to Saturday, when over 30,000 workers walked off the job after rejecting Boeing&#8217;s offer of a 25% <a href="https://www.benzinga.com/news/24/09/40867999/over-30-000-boeing-workers-are-standing-shoulder-to-shoulder-union-leader-says-strike-could-go-on-fo">wage increase over four years</a>. Union leader Jon Holden emphasized the workers&#8217; resolve, stating, &#8220;They're standing shoulder to shoulder and they're ready. So it (the strike) could go on for a while.&#8221;
Subsequently, Boeing and the union returned to the negotiating table with federal mediators on Wednesday. The talks aim to resolve the wage and pension disputes that triggered the strike. The union&#8217;s demand for a 40% wage hike starkly <a href="https://www.benzinga.com/news/24/09/40913789/boeing-and-its-largest-union-return-to-table-with-federal-mediators-after-30k-workers-strike-over-fa">contrasts with Boeing&#8217;s 25% offer</a>.
Adding to the complexity, Elon Musk recently criticized the Federal Aviation Administration for <a href="https://www.benzinga.com/markets/equities/24/09/40912464/elon-musk-accuses-faa-of-fining-spacex-over-nonsense-that-doesnt-affect-safety-amazingly-no-star">allegedly favoring Boeing</a> over SpaceX in regulatory matters. 
Price Action: Boeing Co. closed at $155.11 on Wednesday, down 0.82% for the day. In after-hours trading, the stock gained 0.38%. Year to date, Boeing&#8217;s stock has dropped by 38.39%, according to <a href="https://pro.benzinga.com/dashboard?quote=AAPL">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40913080/shiba-inu-team-says-launching-k9-finance-liquid-staking-on-shibarium-tomorrow-are-shib-bur?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Team Says Launching K9 Finance Liquid Staking On Shibarium Tomorrow: Are SHIB Burns Set To Accelerate From Here On Now?</a></li>
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Boeing Enforces Temporary Furloughs Amid Strike, CEO Kelly Ortberg Announces 'Difficult Steps' Like Pay Cuts As $1B Weekly Loss Looms

- Reuters Citing Spokesperson&nbsp;

Boeing Spokesperson Says Furloughs Will Impact Tens Of Thousands Of Employees

Boeing CEO Announces Temporary Furloughs Impacting US-Based Executives, Managers, And Employees; Leadership Team To Take Pay Reduction During Strike To Preserve Cash And Support Boeing's Recovery

Whales with a lot of money to spend have taken a noticeably bullish stance on Boeing.
Looking at options history for Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $99,730 and 9, calls, for a total amount of $6,605,479.
<h3>Projected Price Targets</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $180.0 for Boeing, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Boeing stands at 3379.67, with a total volume reaching 1,728.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Boeing, situated within the strike price corridor from $95.0 to $180.0, throughout the last 30 days.
<h3>Boeing Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726669030_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$67.85</td>
<td>$66.85</td>
<td>$67.7</td>
<td>$95.00</td>
<td>$6.0M</td>
<td>68</td>
<td style="text-align: right;">900</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$8.55</td>
<td>$8.4</td>
<td>$8.45</td>
<td>$155.00</td>
<td>$150.5K</td>
<td>3.0K</td>
<td style="text-align: right;">282</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$8.95</td>
<td>$8.2</td>
<td>$8.4</td>
<td>$155.00</td>
<td>$75.6K</td>
<td>3.0K</td>
<td style="text-align: right;">111</td>
</tr>
<tr>
<td>BA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$8.45</td>
<td>$8.2</td>
<td>$8.35</td>
<td>$155.00</td>
<td>$75.1K</td>
<td>3.0K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>BA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$8.65</td>
<td>$8.35</td>
<td>$8.35</td>
<td>$165.00</td>
<td>$73.4K</td>
<td>13.2K</td>
<td style="text-align: right;">104</td>
</tr>
</tbody>
</table>

<h3>About Boeing</h3>
Boeing is a major aerospace and defense firm. It operates in three segments: commercial airplanes; defense, space, and security; and Global services. Boeing's commercial airplanes segment competes with Airbus in the production of aircraft that can carry more than 130 passengers. Boeing's defense, space, and security segment competes with Lockheed, Northrop, and several other firms to create military aircraft, satellites, and weaponry. Global services provides aftermarket support to airlines.
Having examined the options trading patterns of Boeing, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Boeing</h3>
<ul>
<li>Currently trading with a volume of 890,678, the BA's price is up by 0.32%, now at $156.89. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 35 days.</li>
</ul>
<h3>Professional Analyst Ratings for Boeing</h3>
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $119.0.
<ul>
<li>An analyst from Wells Fargo has revised its rating downward to Underweight, adjusting the price target to $119. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Boeing, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Market Whales and Their Recent Bets on Boeing Options

Alaska Airlines CEO Says Boeing Strike Unlikely To Significantly Impact Carrier Unless Prolonged; Notes Significant Improvement At Boeing, Expects 737 MAX 10 Deliveries By Mid-2026

Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) will restart contract negotiations on Wednesday with its largest union.
What Happened: The talks will involve federal mediators after the two sides failed to agree on wages and pensions on Tuesday. The International Association of Machinists and Aerospace Workers (IAM), representing over 30,000 Boeing factory workers, has been on strike since last Friday.
The union is demanding a 40% wage increase over four years, significantly higher than Boeing&#8217;s 25% offer, which was overwhelmingly rejected, Reuters reported.
IAM expressed frustration on X, stating, &#8220;The company was not prepared and was unwilling to address the issues essential for ending this strike: Wages and Pension.&#8221;
The strike has disrupted the production of Boeing&#8217;s popular 737 MAX jets and other widebody aircraft, causing delays in deliveries to airlines. Boeing has announced a hiring freeze and is considering temporary furloughs to manage costs, as the company is already dealing with $60 billion in debt.
See Also: <a href="https://www.benzinga.com/news/24/09/40890618/peter-schiff-says-unlikely-that-fed-rate-cuts-will-lower-borrowing-costs-predicts-rising-mortgage-ra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says Unlikely That Fed Rate Cuts Will Lower Borrowing Costs, Predicts Rising Mortgage Rates And Dollar Collapse — Suggests 100 Basis Points Rate Hike As Cure</a>
Why It Matters: The strike by over 30,000 workers has already had significant repercussions. Boeing&#8217;s stock has been falling <a href="https://www.benzinga.com/news/24/09/40886979/boeing-stock-continues-to-fall-after-announcing-hiring-freeze-other-cost-cuts-amid-workers-strike">since the strike began,</a> exacerbated by the company&#8217;s announcement of a hiring freeze and potential furloughs. The measures were outlined by CFO Brian West, who emphasized the urgent need to preserve cash amid the strike.
The union&#8217;s demands for higher wages and better pensions are a critical sticking point. IAM President Jon Holden has indicated that the <a href="https://www.benzinga.com/news/24/09/40867999/over-30-000-boeing-workers-are-standing-shoulder-to-shoulder-union-leader-says-strike-could-go-on-fo">strike could last a while</a>. The machinists, who produce key aircraft models like the 737 Max and the 777, are standing firm on their demands.
Analysts have also weighed in on the situation. BofA Securities analyst Ronald J. Epstein suggested that Boeing might need to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40860003/boeing-may-need-to-offer-additional-concessions-to-end-strike-despite-multi-billion">offer additional concessions</a> to resolve the strike, despite the company&#8217;s multi-billion dollar debt. Epstein noted that the strike could further delay Boeing&#8217;s plans to ramp up production rates for its 737 jets, initially scheduled for September 2024 but now pushed to March 2025.
Price Action: Boeing closed at $156.39 on Tuesday, according to <a href="https://pro.benzinga.com">Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40867076/laura-loomer-faces-republican-wrath-over-racist-posts-is-donald-trump-defending-her?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Laura Loomer Faces Republican Wrath Over Racist Posts</a></li>
</ul>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

General

Boeing And Its Largest Union Return To Table With Federal Mediators After 30K Workers Strike Over Failed Wage And Pension Talks

Tesla Inc. and SpaceX CEO Elon Musk has publicly criticized the Federal Aviation Administration for <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">imposing a $633,009 fine</a> on SpaceX for regulatory violations, hinting at the <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">agency&#8217;s favoritism towards</a> Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).
What Happened: According to a post by Musk on X, he questioned why Boeing was not fined despite NASA deeming their spacecraft unsafe for returning astronauts. Musk&#8217;s comments were in response to a post by Mario Nawfal, who criticized the FAA's actions against SpaceX.
&#8220;Amazingly, no Starliner fines for Boeing! The FAA space division is harassing SpaceX about nonsense that doesn't affect safety while giving a free pass to Boeing even after NASA concluded that their spacecraft was not safe enough to bring back the astronauts,&#8221; Musk wrote. 
Musk also stated that resignations from FAA leadership are necessary.
Nawfal highlighted that the FAA had to go back a year to find violations against SpaceX, while Boeing faced no penalties for safety issues that left two American astronauts stranded at the ISS. Meanwhile, SpaceX plans to sue the FAA for regulatory overreach.
The FAA has proposed a fine against SpaceX for alleged violations during two launches in 2023, accusing the company of not adhering to license requirements. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Amazingly, no Starliner fines for Boeing! The FAA space division is harassing SpaceX about nonsense that doesn't affect safety while giving a free pass to Boeing even after NASA concluded that their spacecraft was not safe enough to bring back the astronauts. There need to be…
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1836151356668940762?ref_src=twsrc%5Etfw">September 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This comes amid ongoing scrutiny of Boeing&#8217;s safety and quality control issues, with FAA Administrator Mike Whitaker set to testify before Congress on Sept. 24 and 25 regarding the agency&#8217;s oversight of Boeing.
See Also: <a href="https://www.benzinga.com/news/24/09/40897703/former-tesla-exec-says-elon-musks-endorsement-of-trump-might-not-sway-upcoming-presidential-election?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Tesla Exec Says Elon Musk&#8217;s Endorsement Of Trump Might Not Sway Upcoming Presidential Elections: &#8216;Last Time Around He Endorsed Andrew Yang&#8217;</a>
Why It Matters: The tension between SpaceX and the FAA is not new. Recently, Musk highlighted that SpaceX&#8217;s competitors &#8220;take up less than we do, and they take nothing down, and they get paid twice as much,&#8221; referring to the <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">disparity in treatment between SpaceX and Boeing</a>. 
This statement <a href="https://www.benzinga.com/news/24/09/40899599/elon-musk-said-spacex-competitors-only-take-up-less-than-we-do-and-they-take-nothing-down-and-they-g">came amid Boeing&#8217;s decision</a> to freeze hiring and consider furloughs due to a strike by over 30,000 workers.
Adding to the context, former President Donald Trump recently praised Musk for his contributions to U.S. space development, stating that the <a href="https://www.benzinga.com/news/24/09/40890535/spacex-ceo-elon-musk-is-doing-an-amazing-job-says-trump-because-before-the-us-was-getting-lapped-in">U.S. was previously lagging behind China and Russia</a> in space but is now a leader, thanks to Musk&#8217;s efforts. 
Moreover, SpaceX has achieved significant milestones, including the recent return of the Polaris Dawn crew after a 5-day mission that featured the <a href="https://www.benzinga.com/news/24/09/40872104/polaris-dawn-returns-home-after-5-day-mission-including-first-commercial-spacewalk">first commercial spacewalk</a>. 
Musk&#8217;s dominance in space is further illustrated by SpaceX controlling nearly <a href="https://www.benzinga.com/news/24/09/40869627/elon-musk-now-controls-two-thirds-of-the-planets-satellites-and-spacex-is-just-getting-started-with">two-thirds of the planet&#8217;s satellites</a>, with plans to launch almost 40,000 more. This rapid expansion of the Starlink satellite network has positioned SpaceX as a formidable player in the global space industry. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40872989/mark-cuban-asks-elon-musk-he-can-directly-question-him-about-kamala-harris-economic-policies-but-wan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Asks Elon Musk He Can Directly Question Him About Kamala Harris&#8217; Economic Policies, But Wants This In Exchange</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Regulations

Global

Elon Musk Accuses FAA Of Fining SpaceX Over 'Nonsense' That Doesn't Affect Safety: 'Amazingly, No Starliner Fines For Boeing'

SpaceX CEO Elon Musk is riding high on the success of the <a href="https://www.benzinga.com/news/24/09/40872104/polaris-dawn-returns-home-after-5-day-mission-including-first-commercial-spacewalk">first-ever private spacewalk</a>. This comes at a time when Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) has frozen hiring and is weighing furloughs as a strike by more than 30,000 workers has entered its fourth day.
What Happened: Boeing has announced it will halt issuing purchase orders for its 737, 767, and 777 programs an ongoing strike, supported by 96% of its workers&#8217; union.
"This strike jeopardizes our recovery in a significant way and we must take necessary actions to preserve cash and safeguard our shared future," Boeing CFO Brian West told employees in a letter on Monday, reported Reuters.
Beyond the concerns with its aerospace division, Boeing has also been plagued with issues on the aerospace side, with the most recent incident being the Starliner.
Two NASA astronauts, Sunita Williams, and Butch Wilmore, have been stranded on the International Space Station, or the ISS, due to safety concerns with Boeing's Starliner spacecraft. This is after the spacecraft was impacted by <a href="https://www.benzinga.com/markets/equities/24/05/38659763/boeings-starliner-crewed-test-flight-postponed-due-to-technical-issue-continuing-challenges-in-s">several delays</a> – the stranded astronauts' incident just closed the loop on a program that was marred by issues from the onset.
In a twist of irony, Musk's SpaceX <a href="https://www.benzinga.com/news/24/08/40665221/nasa-revamps-spacexs-crew-9-lineup-to-make-room-for-astronauts-stranded-at-iss-due-to-boeings-starli">will be the one to rescue</a> Williams and Wilmore – the two will hop on the Dragon spacecraft and join members of the Crew-9 mission to chart their journey back to Earth.
Musk's Digs At Rivals: Musk, on the other hand, has been vocal in calling out his rivals. He also thinks SpaceX would have <a href="https://www.benzinga.com/news/24/08/40306429/elon-musk-agrees-spacex-would-have-received-more-attention-had-it-faced-a-crisis-like-boeing-with-st">received more media attention</a> than Boeing has if his space company's launch vehicle had an issue.
In fact, Musk has been vocal in his <a href="https://www.benzinga.com/news/24/05/38664485/spacex-ceo-elon-musk-blames-boeings-starliner-delay-on-too-many-non-technical-managers">criticism of SpaceX rivals</a> for a decade now – in a speech during a 2014 event organized by US Export-Import Bank, Musk took a dig at rivals for being less efficient while still being paid twice as much as his space company.
"Our Dragon spacecraft is the only spacecraft capable of taking any significant cargo down from the Space Station," he said.
"They only take stuff up, they take up less than we do, and they take nothing down, and they get paid twice as much per mission as we do."
For context, Musk's SpaceX bagged a $2.6 billion contract for Crew Dragon, while Boeing won a $4.2 billion contract for the Starliner. The Dragon has already been in operation since 2020, having taken 10 trips, while this was the first trip for the Boeing Starliner.
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<iframe loading="lazy" title="2014 Annual Conference&#x7C; Discussion with Elon Musk" width="500" height="281" src="https://www.youtube.com/embed/5ImZXTRyszE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40546859/boeings-former-ceo-dennis-muilenburg-said-in-2017-his-company-will-beat-elon-musk-to-mars-7-years-la" target="_blank" rel="noreferrer noopener">Boeing's Former CEO Dennis Muilenburg Said In 2017 His Company Will Beat Elon Musk To Mars. 7 Years Later, It Has Been Forced To Abandon NASA Astronauts At ISS, Who Will Now Be Rescued By SpaceX</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

Elon Musk Said SpaceX Competitors Only 'Take Up Less Than We Do, And They Take Nothing Down, And They Get Paid Twice As Much' — 10 Years Later, Its Rival In Space Boeing Has Frozen Hiring And Is Weighing Furloughs

Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares fell Monday after the company announced a hiring freeze and delayed pay increases for its salaried workforce as the aerospace company faces increased cash drain during a <a href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike">worker strike launched Friday.</a>
The Details: Boeing CFO Brian West announced the measures in a memo to staff on Monday. West also said the company would cut back on orders for its 737, 767 and 777 jets and temporary furloughs for employees and executives are being considered.&nbsp;
"We are working in good faith to reach a new contract agreement that reflects their feedback and enables operations to resume," West said in his note. "However, our business is in a difficult period. This strike jeopardizes our recovery in a significant way and we must take necessary actions to preserve cash and safeguard our shared future."
Read Next: <a href="https://www.benzinga.com/news/24/09/40880306/alibaba-nio-other-chinese-stocks-on-watch-following-weak-economic-data-what-to-know">Alibaba, NIO, Other Chinese Stocks On Watch Following Weak Economic Data: What To Know</a>
The strike began Friday morning after 33,000 aircraft assembly workers walked off the job after rejecting a contract offer presented by Boeing and the International Association of Machinists and Aerospace Workers (IAM) that would have increased wages by 25% over four years. Jefferies aerospace analyst Sheila Kahyaoglu estimated a 30-day strike could cost the struggling aerospace giant $1.5 billion.
<h1 class="wp-block-heading">Will BA Stock Go Up?</h1>
When trying to assess whether or not Boeing will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $205.67 on Boeing. The Street high target is currently at $235 and the Street low target is $119. Of all the analysts covering Boeing, six have positive ratings, two have neutral ratings and one has a negative rating.
In the last month, one analyst adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/BA/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Boeing have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Boeing is 38.06% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Boeing, visit <a href="https://www.benzinga.com/quote/BA">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
BA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Boeing shares ended Monday's session 0.78% lower at $155.55.&nbsp;&nbsp;
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</ul>
Image: Shutterstock

Management

Movers

Boeing Stock Continues To Fall After Announcing Hiring Freeze, Other Cost Cuts Amid Workers' Strike

Embraer S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>) shares are trading lower on Monday. The company disclosed that the pending arbitration with Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40878530/embraer-s-a-material-fact" rel="noreferrer noopener"> its affiliates has concluded</a>.
As per the agreement, Boeing will pay Embraer $150 million. Notably, the arbitration is related to Boeing&#8217;s termination of the Master Transaction Agreement (MTA) worth <a href="https://embraer.com/global/en/news?slug=1206709-embraer-says-that-boeing-wrongfully-terminated-the-master-transaction-agreement" target="_blank" rel="noreferrer noopener">$4.2 </a>billion transaction in April 2020.
At that time, Embraer contended that Boeing wrongfully terminated the MTA, using false claims to evade the deal&#8217;s closure, and alleged that Boeing&#8217;s delays and violations stemmed from its own financial and operational issues.
Last month, Embraer disclosed a contract to sell up to six A-29 Super Tucano aircraft <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40559289/embraer-sells-a-29-super-tucano-to-the-uruguayan-air-force" rel="noreferrer noopener">to the Uruguayan Air Force (FAU)</a>.
The deal includes one immediate purchase and a commitment for five more, with deliveries starting in 2025.
In the second quarter, Embraer&#8217;s adjusted free cash flow, excluding Eve, was negative $215 million due to increased working capital requirements to support a higher volume of<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40254537/embraer-earnings-results-2nd-quarter-2024" rel="noreferrer noopener"> deliveries in the second half of 2024</a>.
Investors can gain exposure to the stock via&nbsp;AdvisorShares Dorsey Wright ADR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AADR#NASDAQ">AADR</a>) and Clough Select Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBSE#NYSE">CBSE</a>).
Price Action: ERJ shares are down 3.69% at $35.59 at the last check Monday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40867999/over-30-000-boeing-workers-are-standing-shoulder-to-shoulder-union-leader-says-strike-could-go-on-fo" target="_blank" rel="noreferrer noopener">Over 30,000 Boeing Workers Are &#8216;Standing Shoulder To Shoulder,&#8217; Union Leader Says &#8216;Strike Could Go On For A While&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mid Cap

AADR

Changebridge Capital Sustainable Equity ETF

CBSE

Embraer-Empresa Brasileira De Aeronautica

Boeing Settles Deal Fallout With Embraer For $150M: Details

Boeing shares are trading lower after the company reportedly implemented a hiring freeze.

Boeing Says It Is Planning To Make Significant Reductions In Supplier Expenditures, Will Stop Issuing Majority Of Supplier Purchase Orders On 737, 767 And 777 Programs

<a href="https://www.cnbc.com/2024/09/16/boeing-freezes-hiring-cost-cuts-factory-worker-strike.html" title="https://www.cnbc.com/2024/09/16/boeing-freezes-hiring-cost-cuts-factory-worker-strike.html">https://www.cnbc.com/2024/09/16/boeing-freezes-hiring-cost-cuts-factory-worker-strike.html</a>

Boeing Implements Hiring Freeze And Announces Cash Preservation Measures Amid Strike

On September 13, 2024, Air Lease was notified by The Boeing Company&nbsp;that certain union factory workers announced a labor strike. Air Lease is unable to estimate the duration of the labor strike and its implications on Boeing&rsquo;s ability to deliver aircraft.
Furthermore, as reported in the Company&rsquo;s latest 10-Q filing on August 1, 2024, the Company expected to receive 12 Boeing aircraft for the remainder of 2024, represented by 5 Boeing 737 MAX aircraft and 7 Boeing 787 aircraft. During the third quarter 2024 and prior to the announcement of the labor strike, the Company purchased 2 Boeing 737 MAX aircraft and 3 Boeing 787 aircraft.
Due to the labor strike, the Company cannot currently estimate when it will receive the remaining 7 Boeing aircraft, which were expected to be delivered in 2024, and as a result, its capital expenditures for the remainder of 2024.

Air Lease Says It Is Unable To Estimate Impacts Of Boeing Labor Strike On Its Order Book; Says Cannot Currently Estimate When It Will Receive Remaining 7 Boeing Aircraft - Filing

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Boeing

Boeing (BA) Forecast

Boeing (NYSE:BA) Stock, Quote.Headers.trade-ideas